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?
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