iHeart Being Evicted From Offices/Studios

It’s not nice to run up $20.5 billion in debt.

Or to make landlords feel like you’re going to file for bankruptcy.

Employees may have no choice when their careers are ended unceremoniously, but landlords are far shrewder than that when they get that creepy feeling they might be stiffed out of their rent.

I know what you’re thinking.

Some chicken shit landlord in some teenie weenie iHeart market is threatening to evict The Evil Empire.

You would be wrong.

Think bigger. More massive.

One of the lease problems they have is in a huge market.

What comes around goes around.

  • The embarrassing eviction even iHeart employees don’t know about in one of iHeart’s big ego markets.
  • The tricky ways landlords are showing iHeart the door (oddly enough this dirty trick is exactly what Bob Pittman would do to them if they didn’t think of it first).
  • How badly some landlords want out of their iHeart leases – does their counteroffer (revealed here) sound like they want to keep iHeart as a tenant?
  • iHeart’s cheap Plan B for when it finds itself homeless.
  • The laughable negotiations that are being ordered from corporate to get the cheapest rent deals possible – not even Cumulus would stoop to this.

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