Inside Music Media

iHeart stations continue to miss their revenue targets in Q1, debt mounting over the $20.5 billion range.
Next week’s “Summit” takes place in Las Vegas Monday with the atmosphere of a mortician’s convention.
Pittman has expanded the group of attendees to include regional market execs.
He may risk sounding like “Happy the Clown” because of his pie in the sky public attitude, but the attendees are going to see the darker Darth Vader side of Pittman.
More cuts even though they are a pimple on Bob’s behind and salaries are definitely not the problem – why do it, then?
How these cuts will be decided – why those who took the company’s recent “employee survey” are worried.
Pittman’s plan to run 800 plus stations on the minimum number of people.
Programmatic media buying being sped up to replace relationship selling.
Rate cutting will continue with repercussions for iHeart’s competitors and the entire radio industry.
And the growing influence of Marc Chase – the Randy Michaels dirty tricks artist who Pittman is elevating above his own excellent programmers to run iHeart like Jacor – what’s that all about?
Bankruptcy cannot be avoided with debt spinning out of control and Pittman’s plan has bankruptcy front and center.