Wednesday, March 21, 2018
In The IHeartMedia Bankruptcy, Expect A Major Selloff Of Radio Stations
Gene Ely, Contributor
20 March 2018
The deal was struck in just the nick of time, hours before the radio giant was set to be shut down by its creditors, and it could well save iHeartMedia, allowing it to be reborn and thrive again.
But be assured, the iHeartMedia that emerges from the prearranged bankruptcy worked out last week with creditors will be a very different company—and a lot leaner.
Expect to see a dramatic shedding of radio stations, likely hundreds, many at rock-bottom prices.
Never mind statements put out by the company that stations will not be sold off. That’s intended to quell fears among employees and stem any flood of talent.
A station selloff is all but assured for a variety of reasons.
Additional story at: https://www.forbes.com/sites/geneely/2018/03/20/in-the-iheartmedia-bankruptcy-expect-a-major-selloff-of-radio-stations/#1ac4042312bd