But what is the ruse that is keeping them out of bankruptcy? How iHeart’s real financial situation is on life support …
Today I am going to warn of the consequences ahead for Bob Pittman’s apparent inability to make a profit.
iHeart is now robbing Peter to pay Paul.
This is a well-orchestrated attempt to bury huge losses and vanishing cash while remaining in business.
You’ll read a few thoughts on…
- How close they came to be plum out of cash after the current quarter.
- The amazing steps Pittman is about to take to drastically cut expenses in a way that is even more draconian than he has done before.
- The date for all this to happen – cuts, layoffs and efficiencies. Yes, this is another heads up warning.
- How incompetent Pittman has been since he has been running the iHeart show – if you look at the financials, and we have, it is laughable except that people are getting hurt.
- The markets that are most likely to be devastated – and devastated is the word I’m using because in these situations Pittman needs to get as close to zero employees and zero expenses as possible. Here’s a three-month range where the bomb drops.
The answers start here.
Report newstips or suggest a story here.
Talk to Jerry privately here.
Please save the date -- April 6, 2016 for my next Media Solutions Conference in Philadelphia.
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