Wednesday, May 7, 2014

Debt Forcing Clear Channel Toward Default

$21 billion in debt is not that bad says Clear Channel.

Things will get better by 2016.

That’s the garbage Clear Channel is feeding the happy talk radio trade press.

But the reality is, Bob Pittman is scared shitless and is planning some dire moves.

If you’ve been thinking about subscribing and would like to access this story, let me tell you what you will get.

  1. The new RIF rotation – how often, who and when the next one hits.
  2. How bad is Clear Channel’s financial crisis in the minds of financial people who study these things.
  3. How much interest Pittman paid to get $850 million in loans to kick a very small part of his $21 billion debt load for only a few years – the best that he could do.
  4. Bain Capital is so worried about their investment in Clear Channel that …
  5. The Clear Channel hiring freeze that Pittman doesn’t want to talk about.
  6. Clear Channel Outdoor – part of their magical multiplatform company – is taking gas.  Here are the changes coming to Outdoor and when.
  7. To keep employees from leaving before Clear Channel is ready to fire them they are approaching people and telling them this.
  8. What’s up with those new quarterly performance reviews and why are they doing them now.

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This article was made possible by information from several sources close to the situation. When you report news, you are automatically in my Witness Protection Program, which has never revealed a source. 

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