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iHeart Prepares for Bankruptcy

Discussion in 'Article Discussion' started by Melody Bot, Mar 2, 2018.

  1. Melody Bot

    Your friendly little forum bot. Staff Member

    This article has been imported from chorus.fm for discussion. All of the forum rules still apply.

    Bloomberg:


    Embattled iHeartMedia Inc. is circulating documents for a bankruptcy filing that could come as soon as this weekend for the biggest U.S. radio broadcaster.

    Advisers to some of iHeart’s senior creditors have been shown bankruptcy papers that would be used on the first day of court proceedings, according to people with knowledge of the matter.

     
  2. I have been so confounded by this brand and it's seemingly overnight existence. When I heard of the first iHeartRadio fest and the lineup they had, I though to myself "WHO IS THIS?" So strange.
     
    IATAvalanche, Brent and heymattrick like this.
  3. heymattrick

    Denver, CO

    They were previously known as Clear Channel, if that helps.
     
  4. Of COURSE they were. Makes sense now.
     
  5. EarthShifts

    Trusted

    I did not realize they were once Clear Channel. They just bought some stations in Boston, including the local AM news station I listen to each morning. As lame as that sounds, I’ll be bummed if they’re forced off air.
     
    Brent likes this.
  6. Brent

    Destroy What You Create Prestigious

    I won a trip for two to their country festival in Austin on a radio text in contest a couple years back. So much fun. Sucks for bankruptcy though.
     
  7. heymattrick

    Denver, CO

  8. CyberInferno

    Line below my username Supporter

    Sorry, I'm sleep deprived. Ignore me. Was confusing my media conglomerates.
     
  9. latortuga

    Regular Supporter

    Bankruptcy protection allows them to get protection from their creditors while trying to prove they can change the business in such a way as to make it profitable again. So they aren't necessarily going away, this is them trying to stay alive.
     
  10. josh-

    Twitter: @joshcaraballin

    The local "alt" station here is owned by them and still plays the same 10 fucking songs that they have the last 20 years. I'm surprised there's still a single out there that still listens to them.
     
    coleslawed and David Parke like this.
  11. CyberInferno

    Line below my username Supporter

    That was my comment about the alt-rock station here in Dallas that was shut down (well, "merged" with a classic rock station, but the other station kept its name). I would flip it on and hear the Toadies and a bunch of other bands from the 90's and early 2000's. The only recent stuff they were playing was also playing on pop stations like Imagine Dragons. I knew then that the station was going to die.
     
  12. DearCory

    Regular

    Just in time for their iHeartRadio Music Awards this weekend lol
     
    Raku likes this.