{"id":31237,"date":"2018-03-18T07:57:37","date_gmt":"2018-03-18T11:57:37","guid":{"rendered":"https:\/\/swling.com\/blog\/?p=31237"},"modified":"2018-03-18T07:57:37","modified_gmt":"2018-03-18T11:57:37","slug":"at-20-billion-in-debt-iheartmedia-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/swling.com\/blog\/2018\/03\/at-20-billion-in-debt-iheartmedia-files-for-bankruptcy\/","title":{"rendered":"At $20 billion in debt, iHeartMedia files for bankruptcy"},"content":{"rendered":"

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

(Source: NPR<\/a>)<\/p>\n

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

iHeartMedia, the country’s largest radio broadcaster with around 850 stations and a leading outdoor advertising company, is filing for bankruptcy after spending years trying to manage its $20 billion in outstanding indebtedness. (For some context, per that November statement, iHeartMedia was obligated to pay $1.8 billion in interest over that coming year.)<\/p>\n

The company writes in a press release that it has reached “an agreement in principle with holders of more than $10 billion of its outstanding debt and its financial sponsors” that will essentially cut its debt in half, and that it has filed motions with the court to be allowed to operate normally through the restructuring. The bankruptcy follows, by two months, the bankruptcy of the country’s second-largest radio company, Cumulus, which offloaded $1 billion in debt.[…]<\/p><\/blockquote>\n

Read the full story at NPR.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

(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 bankruptcy after spending years trying […]<\/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":[4097,1584,4904,5306],"class_list":["post-31237","post","type-post","status-publish","format-standard","hentry","category-am","category-broadcasters","category-fm","category-news","tag-am","tag-fm","tag-iheart-media","tag-iheart-radio"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pn3uc-87P","jetpack-related-posts":[{"id":31018,"url":"https:\/\/swling.com\/blog\/2018\/03\/iheart-prepares-for-bankruptcy\/","url_meta":{"origin":31237,"position":0},"title":"iHeart “Prepares for Bankruptcy”","author":"Thomas","date":"March 1, 2018","format":false,"excerpt":"(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\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\/2016\/03\/iHeartMedia.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":17972,"url":"https:\/\/swling.com\/blog\/2016\/03\/iheartmedia-may-collapse-under-debt-and-low-revenue\/","url_meta":{"origin":31237,"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":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":31237,"position":2},"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":[]},{"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":31237,"position":3},"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":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":31237,"position":4},"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":42571,"url":"https:\/\/swling.com\/blog\/2020\/03\/radio-waves-the-future-of-on-air-djs-sdr-comparison-radios-that-never-were-and-an-internet-radio-player-for-linux\/","url_meta":{"origin":31237,"position":5},"title":"Radio Waves: The Future of On-Air DJs, SDR Comparison, Radios That Never Were, and an Internet Radio Player for Linux","author":"Thomas","date":"March 31, 2020","format":false,"excerpt":"Radio Waves:\u00a0 Stories Making Waves in the World of Radio 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 Radio Waves, a\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\/2019\/04\/AM-Tower-Blue-WHKY-1024x658.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2019\/04\/AM-Tower-Blue-WHKY-1024x658.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/swling.com\/blog\/wp-content\/uploads\/2019\/04\/AM-Tower-Blue-WHKY-1024x658.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\/31237","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=31237"}],"version-history":[{"count":0,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/posts\/31237\/revisions"}],"wp:attachment":[{"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/media?parent=31237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/categories?post=31237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swling.com\/blog\/wp-json\/wp\/v2\/tags?post=31237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}