Author Topic: iHeart board 'elects not to make interest payment'  (Read 1719 times)

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iHeart board 'elects not to make interest payment'
« on: February 01, 2018, 02:36:02 PM »
https://www.allaccess.com/net-news/archive/story/173658/iheartmedia-s-board-elects-not-to-make-an-interest

There's no real way for iHeart to continue to operate with 850 or so stations. By 2019 some of the smaller and medium market stations will glut the market and find even fewer buyers than the few that have financing now.

Re: iHeart board 'elects not to make interest payment'
« Reply #1 on: February 01, 2018, 03:15:35 PM »
https://www.allaccess.com/net-news/archive/story/173658/iheartmedia-s-board-elects-not-to-make-an-interest

There's no real way for iHeart to continue to operate with 850 or so stations. By 2019 some of the smaller and medium market stations will glut the market and find even fewer buyers than the few that have financing now.

I would think they would have to renegotiate contracts like Hannity and Rush.

Re: iHeart board 'elects not to make interest payment'
« Reply #2 on: February 01, 2018, 03:28:25 PM »
One of my local stations recently just went off the air, they were your typical right wing whacko syndication network.

Re: iHeart board 'elects not to make interest payment'
« Reply #3 on: February 01, 2018, 03:36:49 PM »
One of my local stations recently just went off the air, they were your typical right wing whacko syndication network.

How about apologizing to bateman before posting in his thread? Yes, I know you were just trying to get listeners, but an apology is in order.

Re: iHeart board 'elects not to make interest payment'
« Reply #4 on: February 01, 2018, 03:46:55 PM »
I would think they would have to renegotiate contracts like Hannity and Rush.

They both got their contracts renewed last summer, and I know at least one of them was until 2020. Those 2 in particular are deemed untouchable in bankruptcy.

Re: iHeart board 'elects not to make interest payment'
« Reply #5 on: February 01, 2018, 03:55:24 PM »
The amount of debt that I-Heart owes is staggering, in the billions.  This missed interest payment is around 100 million, and their net income, I think last year, without looking at their financials was around 250,00 million for the year.  There is no way they can make those payments, and  in 2019, a balloon payment is owed. 

I definitely see a bankruptcy on the financial horizon with the impact on all of the radio industry being substantial.

Re: iHeart board 'elects not to make interest payment'
« Reply #6 on: February 01, 2018, 03:56:23 PM »
I'm not a radio person but it seems like they thought they were too big to realize that what their consumers wanted was important to their business.

I started working for them in 2004 when they were ClearChannel, and I can assure you they never cared about what consumers wanted. They bought up as many stations as they could, all financed, and made nearly every small or medium-market station a syndication mule. They then turned around and sold the whole mess to private equity firms who were dumb enough to buy and masturbated into piles of money.

Re: iHeart board 'elects not to make interest payment'
« Reply #7 on: February 01, 2018, 03:57:57 PM »
The amount of debt that I-Heart owes is staggering, in the billions.  This missed interest payment is around 100 million, and their net income, I think last year, without looking at their financials was around 250,00 million for the year.  There is no way they can make those payments, and  in 2019, a balloon payment is owed. 

They owe something like $22 billion total, $8.5 of which comes due at the end of the year. They'll be in bankruptcy court within 6 months.

I definitely see a bankruptcy on the financial horizon with the impact on all of the radio industry being substantial.

Lots of stations will flood the market. Today's best multiple is about 6x cash flow but it will be rare to see that number. 3-4x will probably be the norm as the industry continues to tank. Keep in mind this is all happening while the economy is booming, just wait until things cool off.

Re: iHeart board 'elects not to make interest payment'
« Reply #8 on: February 01, 2018, 03:59:44 PM »
I started working for them in 2004 when they were ClearChannel, and I can assure you they never cared about what consumers wanted. They bought up as many stations as they could, all financed, and made nearly every small or medium-market station a syndication mule. They then turned around and sold the whole mess to private equity firms who were dumb enough to buy and masturbated into piles of money.

As a listener, that sounds about right. I'm glad the internet came around so they can eat shit. I now can listen to what I want with few to no commercials.

Re: iHeart board 'elects not to make interest payment'
« Reply #9 on: February 01, 2018, 04:02:35 PM »
I started working for them in 2004 when they were ClearChannel, and I can assure you they never cared about what consumers wanted...
I am stunned, sir.  Stunned!


Re: iHeart board 'elects not to make interest payment'
« Reply #10 on: February 01, 2018, 04:04:02 PM »

Re: iHeart board 'elects not to make interest payment'
« Reply #11 on: February 01, 2018, 04:13:39 PM »
lol

Is that a species of a "Syndication Mule?"

Re: iHeart board 'elects not to make interest payment'
« Reply #12 on: February 01, 2018, 04:40:27 PM »
Charge $1 million for every Harry's razor/pillow guy spot. Problem solved.

Re: iHeart board 'elects not to make interest payment'
« Reply #13 on: February 01, 2018, 04:54:20 PM »
How about apologizing to bateman before posting in his thread? Yes, I know you were just trying to get listeners, but an apology is in order.

why would I apologize to that half a fag for?

Re: iHeart board 'elects not to make interest payment'
« Reply #14 on: February 01, 2018, 05:05:36 PM »
why would I apologize to that half a fag for?

Because you were rude to him for no reason. It's obvious to us that he's more talented than you so that's why you were trying to punch up. It must suck to not be able to be as good as him.

Re: iHeart board 'elects not to make interest payment'
« Reply #15 on: February 01, 2018, 05:06:05 PM »
Because you were rude to him for no reason. It's obvious to us that he's more talented than you so that's why you were trying to punch up.

When was I rude to him, are you his mother?

Re: iHeart board 'elects not to make interest payment'
« Reply #16 on: February 01, 2018, 05:07:18 PM »
When was I rude to him, are you his mother?

No, I just think he's talented and hot. Sorry (not sorry) you have a shitty memory. Being an asshole doesn't stop just because you forgot you were an asshole.

Re: iHeart board 'elects not to make interest payment'
« Reply #17 on: February 01, 2018, 05:10:06 PM »
No, I just think he's talented and hot. Sorry (not sorry) you have a shitty memory.

That's some logic you got there lol

Re: iHeart board 'elects not to make interest payment'
« Reply #18 on: February 01, 2018, 05:11:00 PM »
why would I apologize to that half a fag for?

Spoken like a full fag. ;D

Re: iHeart board 'elects not to make interest payment'
« Reply #19 on: February 01, 2018, 05:11:06 PM »
That's some logic you got there lol

Care to elaborate? Didn't think so. You've got nothing.

Re: iHeart board 'elects not to make interest payment'
« Reply #20 on: February 01, 2018, 05:12:07 PM »
Because you were rude to him for no reason. It's obvious to us that he's more talented than you so that's why you were trying to punch up. It must suck to not be able to be as good as him.


I'm rude to everyone for no reason what so ever, get with the program you dumb cunt.

Re: iHeart board 'elects not to make interest payment'
« Reply #21 on: February 01, 2018, 05:13:24 PM »

I'm rude to everyone for no reason what so ever, get with the program you dumb cunt.

ooh, so edgy. How 2010 of you. Maybe try having a reason.

Re: iHeart board 'elects not to make interest payment'
« Reply #22 on: February 01, 2018, 05:13:54 PM »

Re: iHeart board 'elects not to make interest payment'
« Reply #23 on: February 01, 2018, 05:24:26 PM »
Spoken like a full fag. ;D

This guy has a point.

Re: iHeart board 'elects not to make interest payment'
« Reply #24 on: February 01, 2018, 05:25:32 PM »
I guess

Why is it so difficult for you to apologize for being an asshole for no reason? If you don't remember you can just go into your past posts. I could point it out to you if you really need the help.

Re: iHeart board 'elects not to make interest payment'
« Reply #25 on: February 01, 2018, 05:26:12 PM »
Why is it so difficult for you to apologize for being an asshole for no reason? If you don't remember you can just go into your past posts.

It's part of my charm.



Re: iHeart board 'elects not to make interest payment'
« Reply #28 on: February 01, 2018, 05:32:57 PM »
Senda looks normal there.

Of course he does, dear.

Re: iHeart board 'elects not to make interest payment'
« Reply #29 on: February 01, 2018, 05:35:09 PM »
Of course he does, dear.

He looks better than you I'm sure.