The parent company of Reno radio station KQLO has filed for reorganization under Chapter 11 of the federal bankruptcy code.
The longtime owner of the Spanish-language station said he's confident the business will weather the reorganization without affecting its relationships with listeners, advertisers or the community.
KQLO broadcasts at 1590 AM as "Radio Universal."
In its filing in federal bankruptcy court in Reno, Universal Broadcasting Inc. the parent company of the station says it owes the Internal Revenue Service $40,635 and owes $6,000 to Broadcast Music Inc., the outfit that collects royalties on the music that radio stations play.
It lists assets of less than $10,000.
Baudilio Liriano, president of Universal Broadcasting, said he expects the company to emerge from its reorganization on better financial footing but he doesn't come to work with dreams of big profits.
"I've always been in this business more for passion than for money," he said.
A meeting of the creditors of Universal Broadcasting has been set for April 23.