{"id":31018,"date":"2018-03-01T22:32:52","date_gmt":"2018-03-02T02:32:52","guid":{"rendered":"https:\/\/swling.com\/blog\/?p=31018"},"modified":"2018-03-01T22:32:52","modified_gmt":"2018-03-02T02:32:52","slug":"iheart-prepares-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/swling.com\/blog\/2018\/03\/iheart-prepares-for-bankruptcy\/","title":{"rendered":"iHeart “Prepares for Bankruptcy”"},"content":{"rendered":"

\"\"<\/a><\/p>\n

(Source: Bloomberg<\/a> via Dave Zantow<\/a>)<\/p>\n

\n

IHeart Prepares for Bankruptcy as Soon as This Weekend<\/h2>\n

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.<\/p>\n

Advisers to some of iHeart\u2019s 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. Despite a year of negotiations on a restructuring plan, a formal support agreement still isn\u2019t in place with the most-senior lenders, and the creditors aren\u2019t in restricted talks with the company, said the people, who asked not to be identified discussing private negotiations. Creditors typically agree to restrict some of their activities in exchange for non-public information when talks heat up.<\/p>\n

A bankruptcy filing is all but certain, with iHeart and creditors each swapping proposals in recent weeks for a consensual restructuring. But pressure is mounting on iHeart after it missed a Feb. 1 interest payment, with a 30-day grace period about to run out. On top of that, the broadcaster on Thursday skipped payments on two more sets of bonds. If the company files without a pre-negotiated restructuring plan in place, the bankruptcy could turn into a free-fall, with some of the biggest and most contentious specialists in distressed companies potentially tussling for years over about $20 billion of debt.[…]<\/p>\n

Continue reading at Bloomberg…<\/a><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

(Source: Bloomberg via Dave Zantow) IHeart Prepares for Bankruptcy as Soon as This Weekend 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\u2019s senior creditors have been shown bankruptcy papers that would be used on […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[373,56,3781,3],"tags":[4904,5306],"class_list":["post-31018","post","type-post","status-publish","format-standard","hentry","category-am","category-broadcasters","category-fm","category-news","tag-iheart-media","tag-iheart-radio"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pn3uc-84i","jetpack-related-posts":[{"id":31237,"url":"https:\/\/swling.com\/blog\/2018\/03\/at-20-billion-in-debt-iheartmedia-files-for-bankruptcy\/","url_meta":{"origin":31018,"position":0},"title":"At $20 billion in debt, iHeartMedia files for bankruptcy","author":"Thomas","date":"March 18, 2018","format":false,"excerpt":"(Source: NPR) The \"substantial doubt\" that iHeartMedia's corporate leaders expressed around the company's likelihood of surviving another year, mentioned in its quarterly financial report last November, has been put to rest. iHeartMedia, the country's largest radio broadcaster with around 850 stations and a leading outdoor advertising company, is filing for\u2026","rel":"","context":"In "AM"","block_context":{"text":"AM","link":"https:\/\/swling.com\/blog\/category\/am\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2017\/08\/AM-Radio-Tower-Dark.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2017\/08\/AM-Radio-Tower-Dark.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2017\/08\/AM-Radio-Tower-Dark.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2017\/08\/AM-Radio-Tower-Dark.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17972,"url":"https:\/\/swling.com\/blog\/2016\/03\/iheartmedia-may-collapse-under-debt-and-low-revenue\/","url_meta":{"origin":31018,"position":1},"title":"iHeartMedia may collapse under debt","author":"Thomas","date":"March 30, 2016","format":false,"excerpt":"(Source: MediaFire) At first glance, iHeartMedia looks like the model 21st century media conglomerate, truly a colossus with interests across media: owner of 858 radio stations; Clear Channel Outdoor, one of the world\u2019s largest outdoor companies; Premier Networks, the top U.S. radio network; and iHeartRadio, among the nation\u2019s top digital\u2026","rel":"","context":"In "AM"","block_context":{"text":"AM","link":"https:\/\/swling.com\/blog\/category\/am\/"},"img":{"alt_text":"iHeartMedia","src":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2016\/03\/iHeartMedia-300x300.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11986,"url":"https:\/\/swling.com\/blog\/2015\/01\/radioshack-prepares-for-bankruptcy\/","url_meta":{"origin":31018,"position":2},"title":"RadioShack prepares for bankruptcy","author":"Thomas","date":"January 15, 2015","format":false,"excerpt":"(Source: ARS Techinica via WSJ) \"It's a move many have predicted for some time: RadioShack is probably going to file for bankruptcy protection. According to a\u00a0Wall Street Journal\u00a0report\u00a0citing unnamed sources, the cash-poor retailer could submit its filing as soon as February 2015.\u00a0A RadioShack spokesperson e-mailed Ars to say, \"We decline\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/swling.com\/blog\/category\/news\/"},"img":{"alt_text":"1280px-RadioShack_Exterior_Modified","src":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2014\/06\/1280px-RadioShack_Exterior_Modified.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2014\/06\/1280px-RadioShack_Exterior_Modified.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2014\/06\/1280px-RadioShack_Exterior_Modified.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":57341,"url":"https:\/\/swling.com\/blog\/2023\/07\/radio-waves-am-vehicle-act-passes-committee-iheart-supports-am-swan-island-and-equatorial-guinea\/","url_meta":{"origin":31018,"position":3},"title":"Radio Waves: AM Vehicle Act Passes Committee, iHeart Supports AM, Swan Island and Equatorial Guinea","author":"Thomas","date":"July 29, 2023","format":false,"excerpt":"Radio Waves:\u00a0 Stories Making Waves in the World of Radio Welcome to the\u00a0SWLing Post\u2019s Radio Waves, a collection of links to interesting stories making waves in the world of radio.\u00a0Enjoy! Many thanks to SWLing Post contributor Dennis Dura and Tracy Wood for the following tips: Senate Committee Passes \u201cAM For\u2026","rel":"","context":"In "AM"","block_context":{"text":"AM","link":"https:\/\/swling.com\/blog\/category\/am\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2018\/10\/Zenith-Transoceanic-R-7000-2-angle-e1540388449299.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2018\/10\/Zenith-Transoceanic-R-7000-2-angle-e1540388449299.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2018\/10\/Zenith-Transoceanic-R-7000-2-angle-e1540388449299.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2018\/10\/Zenith-Transoceanic-R-7000-2-angle-e1540388449299.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":41807,"url":"https:\/\/swling.com\/blog\/2020\/02\/radio-waves-capitol-code-clays-corner-the-buzzer-iheart-layoffs-and-australian-hams\/","url_meta":{"origin":31018,"position":4},"title":"Radio Waves: Capitol Code, Clay’s Corner, The Buzzer, iHeart Layoffs, and Australian Hams","author":"Thomas","date":"February 2, 2020","format":false,"excerpt":"Radio Waves:\u00a0 Stories Making Waves in the World of Radio\u00a0 Because I keep my ear to the waves, as well as receive many tips from others who do the same, I find myself privy to radio-related stories that might interest\u00a0SWLing Post\u00a0readers.\u00a0 To that end:\u00a0Welcome to the\u00a0SWLing Post\u2019s\u00a0Radio Waves, a collection\u2026","rel":"","context":"In "AM"","block_context":{"text":"AM","link":"https:\/\/swling.com\/blog\/category\/am\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2017\/07\/JRC-NRD-93-Dial-1024x678.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2017\/07\/JRC-NRD-93-Dial-1024x678.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2017\/07\/JRC-NRD-93-Dial-1024x678.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":41622,"url":"https:\/\/swling.com\/blog\/2020\/01\/radio-waves-iheart-layoffs-%e2%80%a2-radio-jk-fm-%e2%80%a2-2nd-chance-for-pirates-%e2%80%a2-invisible-war\/","url_meta":{"origin":31018,"position":5},"title":"Radio Waves: iHeart Layoffs \u2022 Radio JK FM \u2022 2nd Chance for Pirates \u2022 Invisible War","author":"Thomas","date":"January 16, 2020","format":false,"excerpt":"Radio Waves:\u00a0 Stories Making Waves in the World of Radio\u00a0 Because I keep my ear to the waves, as well as receive many tips from others who do the same, I find myself privy to radio-related stories that might interest SWLing Post readers.\u00a0 To that end: Welcome to the SWLing\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/swling.com\/blog\/category\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2019\/10\/Dial-1024x768.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2019\/10\/Dial-1024x768.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2019\/10\/Dial-1024x768.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/posts\/31018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/comments?post=31018"}],"version-history":[{"count":0,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/posts\/31018\/revisions"}],"wp:attachment":[{"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/media?parent=31018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/categories?post=31018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/tags?post=31018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}