Zagreb's popular Radio 101 declared bankrupt, could shut down

ZAGREB, Croatia - Zagreb's Radio 101, which became known for its fierce opposition to Franjo Tudjman, the late authoritarian president, has been declared bankrupt and could be shut down.
The Zagreb Commercial Court has ruled that bankruptcy proceedings should begin, as the station's debt of 25 million kuna (€3.4 million), greatly exceeds its value.
Founded in 1984, Radio 101 became a symbol of free journalism in the 1990s. The government's effort to shut it down in 1996 triggered the country's biggest protest since it gained independence in 1991 — a mass show of opposition to Tudjman's rule.
A bankruptcy administrator was appointed Tuesday and the station will stay on air for a month. If no one buys it, its frequency will be given to another station.
Winnipeg Free Press