With the court’s blessing iHeart Media has emerged from bankruptcy and reduced their debt from $16 billion to a much lower number -- $5.75 billion.
iHeart says it’s back to business as usual but what does that look like after bankruptcy?
Will they now be able to service the $5.75 billion in debt at unfavorable interest rates in a declining ad market for radio?
iHeart split Clear Channel Outdoor and the radio division and that comes with new pros and cons.
The real question is, is the focus back to terrestrial radio?
How do they service even reduced debt when it is so high?
And is a buyer ready to move in and take over?