02-04-2018, 02:52 PM
Right-wing media giant.
iHeartMedia on the ropes: Limbaugh, Hannity distributor tries to stay alive.
Laden with $20 billion in debt, talk-radio giant iHeartMedia is trying desperately to save its failing business
https://www.salon.com/2018/02/03/iheartm...tay-alive/
Portent of the demise of right-wing media as they now constitute themselves? Growing costs but shrinking revenue? That is a bad reality in any business. When the customers leaving the business are not being replaced by new ones, that business is doomed to failure unless it can rectify the situation by getting new customers.
I am satisfied that there will be some new conservatism among Millennial adults inn the 2030s, but not of the Limbaugh-Hannity variety that insults anyone capable of rational thought. iHeart media will probably be defunct long before then.
iHeartMedia on the ropes: Limbaugh, Hannity distributor tries to stay alive.
Laden with $20 billion in debt, talk-radio giant iHeartMedia is trying desperately to save its failing business
Quote:iHeartMedia, the struggling company that owns hundreds of radio stations and distributes the talk programs of Sean Hannity, Rush Limbaugh and Glenn Beck, took another step toward bankruptcy by formally notifying its bondholders that it would invoke a 30-day "grace period" clause to avoid paying a $106 million interest payment that was due on Thursday.
In announcing the delay, iHeart insisted that it had the cash but needed more time to complete a reorganization that it said would "proactively and comprehensively address iHeart's capital structure."
The move spooked financial analysts. S&P Global downgraded iHeart's stock to its lowest rating and warned investors that the radio giant was likely to default on its debts. Several analysts have begun speculating that iHeart will file for bankruptcy protection during the grace period.
iHeart, which was formerly known as Clear Channel Communications, suffered another setback in late December when its billboard advertising division, a separate publicly traded company, was sued for extending more than $1 billion in cut-rate loans to iHeart, which were supposed to be paid in full by Dec. 15.
Instead of paying its debt, iHeart, which owns about 90 percent of Clear Channel Outdoor's shares, forced its subsidiary to postpone the due date to May 15 of next year.
In a filing in the Delaware Court of Chancery, a Massachusetts county pension fund alleged that iHeart has been utilizing Clear Channel's steady revenue stream as the primary means of financing itself because iHeart is unable to attract investment. The lawsuit was first reported by the Courthouse News Service.
https://www.salon.com/2018/02/03/iheartm...tay-alive/
Portent of the demise of right-wing media as they now constitute themselves? Growing costs but shrinking revenue? That is a bad reality in any business. When the customers leaving the business are not being replaced by new ones, that business is doomed to failure unless it can rectify the situation by getting new customers.
I am satisfied that there will be some new conservatism among Millennial adults inn the 2030s, but not of the Limbaugh-Hannity variety that insults anyone capable of rational thought. iHeart media will probably be defunct long before then.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.