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The iHeartMedia Bankruptcy


Gene Steinberg

Forum Super Hero
Staff member
As many in the radio industry expected, the network that brings you Rush Limbaugh and CoastToCoast AM has filed for bankruptcy. So much for trying to buy up all the radio stations and dominating an entire industry with humongous debt.

This is what our network informed me would come. It means GCN is going to try to pick up some of the scraps and that might, finally, give us more chances to make real money.

Largest US radio company iHeartMedia files for bankruptcy
 
A fish trying to be the biggest & baddest fish in the tank. Not surprising. But they have more nerve than me....I wouldn't invest in anything to do with the word "radio" in it. To me, it's like investing in a company that specializes in land line phones.
 
Bain Capital took them over. That's the company once run by Mitt Romney.

They were heavily leveraged, trying to buy almost every station in a market to overwhelm the competition. It's an example of greed and utter stupidity. I agree radio is changing a lot, which hurts our chances to pull in substantial money. But it's not dead.
 
Bain Capital took them over. That's the company once run by Mitt Romney.

They were heavily leveraged, trying to buy almost every station in a market to overwhelm the competition. It's an example of greed and utter stupidity. I agree radio is changing a lot, which hurts our chances to pull in substantial money. But it's not dead.
It kind of reminds me of Clear Channel. I'm not sure where they stand today (Clear Channel) - but I know at one point it seemed like almost every billboard & radio station in the U.S. was owned by Clear Channel. These days I don't really hear much about them.
 
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