Local First Media - Sale Process

NOTICE OF SOLICITATION AND SALE PROCESS

in the Receivership Proceedings of Local First Media Group Inc., Local First Properties Inc., BTC USA Holdings Management Inc., Local First Properties USA Inc., Alaska Broadcast Communications, Inc., Frontier Media LLC and Broadcast 2 Podcast, Inc.

(collectively, “Local First Media”) 

NOTICE IS HEREBY GIVEN that on February 21, 2025, FTI Consulting Canada Inc. was appointed receiver and manager (the “Receiver”) of the assets, undertakings and property of Local First Media, pursuant to an Order of the Court of King’s Bench of Alberta.

On July 8, 2025, the US Bankruptcy Court for the Eastern District of Taxes, Texarkana Division, entered an Order Granting Petition for Recognition as Foreign Main Proceeding, which recognized the Receiver as foreign representative under Chapter 15 of the US Bankruptcy Code.

On October 23, 2025, the Court of King’s Bench of Alberta granted an Order (the “Sale Process Order”) authorizing the Receiver to conduct a solicitation and sale process (the “Sale Process”) for the solicitation and sale of certain of Local First Media’s assets and property.

PLEASE TAKE NOTICE THAT on October 27, 2025, consistently with the Sale Process Order, the Receiver launched the Sale Process to solicit interest in, and opportunities for, a sale of all or part of the business, property, assets and undertakings of the Local First Media, a group of Canadian and United States companies operating radio stations in the United States. The Sale Process includes a bid process whereby binding offers to purchase must be received by December 9, 2025. All bids must be received by the Receiver via mail, email, or fax no later than 12:00 p.m. (Mountain Time) on the respective deadline date.

FURTHER INFORMATION on the Sale Process including the full Sale Process procedures can be found on the Receiver’s website.