They NEED this money.
It’s $400 million for the equity owners who need to get out of their investment.
Already, there is a troubling pattern emerging in the wake of the anticipated sale of iHeart towers and real estate.
Here’s what we’re hearing.
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- The unbelievable multiple the buyer is willing to pay.
- How iHeart is basing that multiple on revenue – ever hear of a broadcast tower earning revenue (it’s the station!).
- The odd closing anticipated for this deal if it goes through.
- How Bain is looking to custom design the revenue figures to bend the deal to be most favorable for them – how Bain wants them to treat tower painting in the end deal.
- Market managers in numerous iHeart markets are shaking in their boots due to a directive from corporate after closing.
- Finally, the reason iHeart would be good with paying tower rent from now on in all of their markets and give up the rental income.
The answers start here.
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