The online radio content provider and owner of roughly 800 terrestrial stations, iHeartRadio is struggling with its debt load and has been unable to renegotiate borrowing terms with creditors.
“The company has almost $350 million of debt coming due this year, which comes fromĀ a massive $20 billion debt load it took on as part of a $24 billion leveraged buyout of then Clear Channel Communications Inc. by private-equity firms Bain Capital and Thomas H. Lee Partners in 2008. It has another $8.3 billion of debt coming due in 2019.”
Bain Capital – Mitt Romney.
They can’t service their debt yet their stations broadcast so many ads!
Talk Radio isn’t exactly an up and coming technology.
Romney hasn’t been involved with Bain for years that I
Know of. What is Bain Capital? A dog whistle?
I hope iHeartRadio survives. I use it every weekday
Good old Mitt-Dumber than pencils without erasers.
Are they going to replace the iHeart Radio button on my smart TV’s remote? I want a new function for that button. Never did sign up with their BS. Only Pandora.
Speaking of radio, I’m never going to get a car with XM radio in it again. If it comes with, it will get ripped out by the dealer or I’m not buying the car.
Those SOBs send me a please come back letter twice a week and call 3 times a week all thanks to the free 3 month trial that ended 4 months ago. Every damn time I say NO BITCHES and they won’t stop. “But it’s too good of a deal to pass up, sir.” I don’t pay for radio, the answer is and will remain NO.
With debt like that, it has to be run by Democrats.
Warning: If you have iHeart on for more than four hours, seek immediate medical attention.
And not soon enough, too bad so glad.
Too slow, clunky, drops out and un-radio like. Not only that, but they are always trying to get you to sign up. Other internet radio apps work better. Most of the radio stations on iHeart radio are locked up to it. As a result I wind up listening to other stations using TuneIn, MyTuner and Simple Radio instead.
$350 million debt and they’re still on the air.
Dude, I could retire way before I hit 10 million. Thanks for the tip.