Inside Music MediaJerry Del Colliano

But what is the ruse that is keeping them out of bankruptcy? How iHeart’s real financial situation is on life support …

Today I am going to warn of the consequences ahead for Bob Pittman’s apparent inability to make a profit.

iHeart is now robbing Peter to pay Paul.

This is a well-orchestrated attempt to bury huge losses and vanishing cash while remaining in business.

You’ll read a few thoughts on…

• How close they came to be plum out of cash after the current quarter.
• The amazing steps Pittman is about to take to drastically cut expenses in a way that is even more draconian than he has done before.
• The date for all this to happen – cuts, layoffs and efficiencies. Yes, this is another heads up warning.
• How incompetent Pittman has been since he has been running the iHeart show – if you look at the financials, and we have, it is laughable except that people are getting hurt.
• The markets that are most likely to be devastated – and devastated is the word I’m using because in these situations Pittman needs to get as close to zero employees and zero expenses as possible. Here’s a three-month range where the bomb drops.

The answers start here.

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Please save the date -- April 6, 2016 for my next Media Solutions Conference in Philadelphia.

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