Sr. Lenders Take Control of Bustos Media with NAP

RADIO ONLINE | Wednesday, June 30, 2010 | 11:03pm CT

Bustos Media has filed to transfer all of its 28 radio and television licenses to NAP Broadcast Holding, a group formed by its senior lenders NewStart, Atalaya and Prudential. CEO Amador Bustos and VP/Operations John Bustos both resigned as part of the merger agreement. Broadcast Management & Technology President Jay Meyers will serve as interim CEO.

Meyers says that no format changes are planned and all of its employees will remain in place. In a memo to the staff, Amador and John Bustos expressed confidence that "with the support of the new ownership the staff will continue to build these stations to their fullest potential."

Amador Bustos is also the founder of Z-Spanish Radio Network, which merged with Entravision in 2000 where he served as COO of its radio division until 2001.