The question I always get is how can Clear Channel – reborn as iHeartMedia – get to run up so much debt and still remain in business?
That’s more debt than the debt-ridden city of Detroit.
$20 billion is more money than the radio industry makes all together in a year.
And it’s billions higher than Lee & Bain paid for Clear Channel.
How do they stay in business?
Why would anyone keep lending them money?
Isn’t anyone watching their extravagant spending?
Why are layoffs the only cost cutting that keeps lenders happy?
Why does iHeartMedia want to do just about anything but local radio, which would solve a lot of their money problems?
If you’ve been thinking about subscribing and would like to access this story, Let’s answer all of these questions right now.
Access this story now and try a monthly subscription here.
Become an annual member and also access 2,800 previous stories, here. Search Stories.
$100 a month awarded for the best news tip. My confidential Witness Protection Program is the safest way to report news or share emails and memos in confidence here.
Talk to Jerry privately here.
Share this story below.
Recent Posts
- The Company Cleaning iHeart’s Clock
- The End of Consolidation
- The Return of Payola
- iHeart Scraping Competitors’ Business
- The Hurry-Up Cumulus Bankruptcy Plan
- Urban One’s Managed Decline
- An Urgent Behind-the-Scenes Cumulus Pivot
- GM Secretly Taking Back In-car Entertainment
- The Podcast Reckoning
- Beasley’s Nepo Problem