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https://www.engadget.com/2018/03/15/iheartradio-owner-iheartmedia-bankruptcy/
18h ago
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iHeartRadio owner files for bankruptcy, but you won't feel it
It'll be business as usual for the media giant.
Mariella Moon, @mariella_moon
22h ago in Internet
4 Comments
204 Shares
Sponsored Links by Taboola10 Luxurious Cars You Never Knew You Always Wanted To DriveBest Cars InfoTop-6 Best Places To Stay In ThailandTime-journal.comDigital cameras: Aiming for recoveryThe Straits Times
gilaxia via Getty Images
Radio giant iHeartMedia has filed for bankruptcy after years of dealing with a massive debt worth $20 billion. Don't worry, though: you might not even feel that the company is going through Chapter 11 proceedings. In its announcement, the media corporation said it has reached an agreement with the holders of over $10 billion of its outstanding debts. The agreement does require a "comprehensive balance sheet restructuring," but the company isn't shutting down. Debtwire analyst Seth Crystall told Variety that "f you were listening to iHeartRadio, or going to iHeart concerts" you won't be affected by what's going on behind the scenes.
In addition to operating the music streaming service iHeartRadio, iHeartMedia runs over 850 stations, stages music festivals and produces events and concerts. It's unclear if its "balance sheet restructuring" would put some of its less popular properties off the air, but the company believes that the cash it has on hand along with the money its ongoing projects will generate will be enough to support its business during the bankruptcy proceedings.
iHeartMedia chief Bob Pittman also sounds optimistic, since this means the company "only" has another $10 billion in debt to worry about. He said in a statement:
"The agreement we announced today is a significant accomplishment, as it allows us to definitively address the more than $20 billion in debt that has burdened our capital structure. Achieving a capital structure that finally matches our impressive operating business will further enhance iHeartMedia's position as America's #1 audio company."
Via: Variety
Source: iHeartMedia
In this article: bankruptcy, bankruptcy court, entertainment, iheartmedia, iheartradio, internet, radio
204 Shares
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https://tw.news.yahoo.com/全球最大擁858電台-iheartradio集團宣告破產-103421850.html
全球最大擁858電台 iHeartRadio集團宣告破產
聯合新聞網
3.1k 人追蹤
聯合線上
2018年3月16日 下午6:34
身為全球規模最大娛樂公司之一的iHeartRadio電台集團，經過幾個月的延遲、協商，還有倒數時刻企圖扭轉命運的最後掙扎，終究還是逃不調走上聲請破產之路；14日晚間，iHeartRadio電台集團向法院聲請破產法第11章保護，長達數月的破產傳聞終於得以落幕。
2008年的併購案，讓規模傲人的這家電台集團，在十年內累積了高達200億元的債務，結果拖垮經營。
總部位於德州聖安東尼奧、旗下擁有全美858家電台的iHeartRadio集團，曾主辦包括 iHeartRadio Music Awards音樂獎等在內的大型活動。
電台網站發布聲明指出，電台已經與資金贊助者以及100多億債務的債權人達成基本協議。
根據協議內容，原本200億元的債務得以減半，雖然負債壓力因此減輕不少，但聲請破產保護之後，各種法律程序即將展開，預料將有一段漫長道路。
電台可能宣告破產的耳語，好幾個月之前就已經傳出，近來則是每周都有最新的壞消息出現，言之鑿鑿破產已經迫在眉睫。
上個月，iHeartRadio電台集團原本應該償還債務利息，但限期過了卻仍繳不出來，當時就有消息指出，下一步就是聲請破產。
不過，部分媒體報導則指出，多家企業表態願意伸出援手，提供資金讓電台得以周轉，具體作法則考慮透過借貸或入股方式。
★ 更多追蹤報導" data-reactid="19">★ 更多追蹤報導
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18h ago
View
iHeartRadio owner files for bankruptcy, but you won't feel it
It'll be business as usual for the media giant.
Mariella Moon, @mariella_moon
22h ago in Internet
4 Comments
204 Shares
Sponsored Links by Taboola10 Luxurious Cars You Never Knew You Always Wanted To DriveBest Cars InfoTop-6 Best Places To Stay In ThailandTime-journal.comDigital cameras: Aiming for recoveryThe Straits Times
gilaxia via Getty Images
Radio giant iHeartMedia has filed for bankruptcy after years of dealing with a massive debt worth $20 billion. Don't worry, though: you might not even feel that the company is going through Chapter 11 proceedings. In its announcement, the media corporation said it has reached an agreement with the holders of over $10 billion of its outstanding debts. The agreement does require a "comprehensive balance sheet restructuring," but the company isn't shutting down. Debtwire analyst Seth Crystall told Variety that "f you were listening to iHeartRadio, or going to iHeart concerts" you won't be affected by what's going on behind the scenes.
In addition to operating the music streaming service iHeartRadio, iHeartMedia runs over 850 stations, stages music festivals and produces events and concerts. It's unclear if its "balance sheet restructuring" would put some of its less popular properties off the air, but the company believes that the cash it has on hand along with the money its ongoing projects will generate will be enough to support its business during the bankruptcy proceedings.
iHeartMedia chief Bob Pittman also sounds optimistic, since this means the company "only" has another $10 billion in debt to worry about. He said in a statement:
"The agreement we announced today is a significant accomplishment, as it allows us to definitively address the more than $20 billion in debt that has burdened our capital structure. Achieving a capital structure that finally matches our impressive operating business will further enhance iHeartMedia's position as America's #1 audio company."
Via: Variety
Source: iHeartMedia
In this article: bankruptcy, bankruptcy court, entertainment, iheartmedia, iheartradio, internet, radio
204 Shares
Popular Conversations
https://tw.news.yahoo.com/全球最大擁858電台-iheartradio集團宣告破產-103421850.html
全球最大擁858電台 iHeartRadio集團宣告破產
聯合新聞網
3.1k 人追蹤
聯合線上
2018年3月16日 下午6:34
身為全球規模最大娛樂公司之一的iHeartRadio電台集團，經過幾個月的延遲、協商，還有倒數時刻企圖扭轉命運的最後掙扎，終究還是逃不調走上聲請破產之路；14日晚間，iHeartRadio電台集團向法院聲請破產法第11章保護，長達數月的破產傳聞終於得以落幕。
2008年的併購案，讓規模傲人的這家電台集團，在十年內累積了高達200億元的債務，結果拖垮經營。
總部位於德州聖安東尼奧、旗下擁有全美858家電台的iHeartRadio集團，曾主辦包括 iHeartRadio Music Awards音樂獎等在內的大型活動。
電台網站發布聲明指出，電台已經與資金贊助者以及100多億債務的債權人達成基本協議。
根據協議內容，原本200億元的債務得以減半，雖然負債壓力因此減輕不少，但聲請破產保護之後，各種法律程序即將展開，預料將有一段漫長道路。
電台可能宣告破產的耳語，好幾個月之前就已經傳出，近來則是每周都有最新的壞消息出現，言之鑿鑿破產已經迫在眉睫。
上個月，iHeartRadio電台集團原本應該償還債務利息，但限期過了卻仍繳不出來，當時就有消息指出，下一步就是聲請破產。
不過，部分媒體報導則指出，多家企業表態願意伸出援手，提供資金讓電台得以周轉，具體作法則考慮透過借貸或入股方式。
★ 更多追蹤報導" data-reactid="19">★ 更多追蹤報導
[/a]性騷風暴 溫斯坦電影公司要申請破產
美加州奧克蘭港碼頭申請破產
引進"姜虎東" 格亨集團驚傳倒閉
中山北建商驚爆破產 日商大咖都遭殃
