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Future of iHeartRadio

X

xradyo

Story posted today on MarketWatch that iHeartRadio may not last another year. This would have a huge impact in some markets though Boston just has 3 FMs owned by the group. Given consolidation rules, could be interesting to see who jumps on these and what happens to WBWL which is still a weak signal in the suburbs. Is it optimistic of me to hope this sells back to an operator that would bring back another independent signal? I still miss WFNX.

http://www.marketwatch.com/story/ih...not-survive-another-year-2017-04-21-121035436
 
xradyo said:
Story posted today on MarketWatch that iHeartRadio may not last another year. This would have a huge impact in some markets though Boston just has 3 FMs owned by the group. Given consolidation rules, could be interesting to see who jumps on these and what happens to WBWL which is still a weak signal in the suburbs. Is it optimistic of me to hope this sells back to an operator that would bring back another independent signal? I still miss WFNX.
Click to expand...

iHeart has been attempting to renegotiate its debt. They made an offer that the lenders did not like and, thus, turned down. iHeart is now raising the spectre of a Chapter 11 filing, which might wipe out the unsecured creditors.

Normal, day to day operations would continue and to the listener the negotiations with lenders will be totally invisible. Chapter 11 includes dismissal of many obligations and reorganization under a court nominated receiver.
 
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