Liberty now reportedly owns 30-35% of iHeart debt and counting that can be turned into equity.
Even the poison pill iHeart swallowed after hours on Friday can’t kill John Malone’s ambitions.
This means it is just a matter of time before Bain, Pittman, Bressler and company lose the company to a shrewd media tycoon.
There will be a new strategy on layoffs and furloughs when Liberty gets control.
The markets that are most vulnerable to this takeover by a satellite radio company have no idea what is coming their way.
As iHeart top management protects itself, we get a preview of what iHeart will look like for the unprotected.
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