Rdio seeks approval of 90-day extension of exclusivity periods

By Mark Reccek

Bethlehem, Pa., Feb. 8 – Rdio, Inc. requested court authorization to extend its exclusive periods for filing a Chapter 11 plan of reorganization and soliciting votes on the plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Northern District of California.

The company is requesting an extension of its exclusive filing period through June 13 and an extension of its solicitation period through Aug. 12, 2016.

According to the motion, the 90-day extension is warranted to permit the company additional time “to continue to cooperate and negotiate with the committee and evaluate all filed claims after the claims bar date has passed, prior to filing and attempting to obtain approval of a plan, since the terms of any plan or other exit mechanism in this case may depend largely upon the outcome of these contingencies.”

A hearing is scheduled for Feb. 26.

Rdio is a San Francisco-based licensed music service. The company filed for bankruptcy on Nov. 16 under Chapter 11 case number 15-31430.

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