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iHeartRadio Files for Bankruptcy

Old 03-15-18, 10:00 PM
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iHeartRadio Files for Bankruptcy

America's largest radio company had over $20 billion in debt
https://pitchfork.com/news/iheartrad...ankruptcy/amp/

iHeartMedia, Inc., the parent company of iHeartRadio, the largest radio broadcasting network in the United States, has filed for bankruptcy, the corporation announced. The company says that it has reached an agreement with creditors to restructure more than $10 billion in debt, cutting down its debt from over $20 billion. A press release notes that despite the bankruptcy, iHeartMedia “will continue operating the business in the ordinary course as a leading global multi-platform media, entertainment and data company.”

iHeartRadio owns 850 stations across the country, as well as a streaming service. They also run the IHeartRadio Music Awards and other live events. The corporation had 14,300 employees at the end of 2016, according to Reuters.
I wonder how long they'll last. This is happening at the same time Spotify is about to go public.
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Old 03-15-18, 10:05 PM
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Re: iHeartRadio Files for Bankruptcy

But they do awards shows and festivals and whatnot. I guess that’s where all the money went. But then again I’ve never used it before.
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Old 03-15-18, 10:55 PM
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Re: iHeartRadio Files for Bankruptcy

No, this is the same deal as TRU, Bain came in, bought them with borrowed money (a leveraged buyout) put all that debt on the business in the hopes of selling it for a profit, and didn't find a buyer. I mean they were in trouble before which is why there was a buyout in the first place, but still reprehensible.

Here's an article talking about it being destined to fail when the buyout happened:

http://observer.com/2017/04/iheart-r...buyout-doomed/
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Old 03-16-18, 07:25 AM
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Re: iHeartRadio Files for Bankruptcy

There are too many different options for iheartradio.com too be successful.

At least TuneIn carries all the major sports radio broadcast's which is a big plus in my books. Their music selection's are horrible but at least they have sports too save the day.
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Old 03-16-18, 10:00 AM
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Re: iHeartRadio Files for Bankruptcy

This isn't just about the app. It's the entire "iHeartMedia" organization. As the article says, "iHeartRadio owns 850 stations across the country, as well as a streaming service."
They used to be known as Clear Channel.

I never expected their app to gain any ground, but I didn't think the whole company was doing this bad. fujishig's linked Observer article is good at giving that history.
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Old 03-16-18, 10:26 AM
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Re: iHeartRadio Files for Bankruptcy

Good. Fuck 'em. They successfully destroyed American radio over the course of the last two decades. "Local talent? Fire them! We got syndicated right wing talk radio and sports! MANAGE MARGINS!!"
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Old 03-16-18, 10:47 AM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by Hokeyboy View Post
Good. Fuck 'em. They successfully destroyed American radio over the course of the last two decades. "Local talent? Fire them! We got syndicated right wing talk radio and sports! MANAGE MARGINS!!"
They've been around for two decades?! I honestly never heard of them until just a few years ago.
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Old 03-16-18, 10:57 AM
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Re: iHeartRadio Files for Bankruptcy

^ They didn't rename to iHeartRadio until late 2014.
They were Clear Channel from 1972 to 2014.
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Old 03-16-18, 11:20 AM
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Re: iHeartRadio Files for Bankruptcy

I don't care what they call themselves, they will always be Clear Channel to me. An odiously repugnant organization if there ever was one.
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Old 03-16-18, 11:31 PM
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Re: iHeartRadio Files for Bankruptcy

Hmm, I was at our local iHeart building today doing an install for them. That check better clear.
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Old 03-17-18, 12:48 PM
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Re: iHeartRadio Files for Bankruptcy

The failure of Clear Channel will be a benefit to radio.
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Old 03-17-18, 07:57 PM
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Re: iHeartRadio Files for Bankruptcy

Our local classic rock station is I Heart Radio. If ya wanna hear Who Are You, Another Brick in the Wall (pt 2), Sweet Emotion, Runnin' Down a Dream, and Sweet Child o' Mine several times a day, it's definitely your go-to station.
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Old 03-17-18, 10:53 PM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by Hokeyboy View Post
Good. Fuck 'em. They successfully destroyed American radio over the course of the last two decades. "Local talent? Fire them! We got syndicated right wing talk radio and sports! MANAGE MARGINS!!"
Completely agree. These fuckers at Clear Channel have been the downfall of radio and it's diversity.
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Old 03-18-18, 02:12 AM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by Hokeyboy View Post
I don't care what they call themselves, they will always be Clear Channel to me. An odiously repugnant organization if there ever was one.
Which is why they rebranded and changed names. Many music fans loathed the Clear Channel company.
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Old 03-18-18, 09:15 AM
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Re: iHeartRadio Files for Bankruptcy

Pandora is worse then iHeartradio.com.

No matter what radio station I would form it was guaranteed to have Lynyrd Skynyrd song many times over.

Plus after a few hours Pandora would ask you if you were still listening(even though you paid for their service). This is basically the main reason I stopped listening(plus too much repeat music).

Haven't listened to iheartradio.com in awhile but I never recalled them stopping the music to ask if you were still listening.
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Old 03-18-18, 11:33 AM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by dvd-4-life View Post
Pandora is worse then iHeartradio.com.

No matter what radio station I would form it was guaranteed to have Lynyrd Skynyrd song many times over.

Plus after a few hours Pandora would ask you if you were still listening(even though you paid for their service). This is basically the main reason I stopped listening(plus too much repeat music).

Haven't listened to iheartradio.com in awhile but I never recalled them stopping the music to ask if you were still listening.
Say you know how every classic rock station plays the same Zeppelin, Bad Company, Foghat, Steve Miller Band, etc. songs over and over and over again with ZERO deviation from the standard tired, boring, dead playlist that hasn't budged since 1989?

You can thank iHeartRadio / Clear Channel for that.
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Old 03-18-18, 02:33 PM
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Re: iHeartRadio Files for Bankruptcy

It sounds like one of my Brennan B2 playlists.
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Old 03-18-18, 04:27 PM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by Hokeyboy View Post
Say you know how every classic rock station plays the same Zeppelin, Bad Company, Foghat, Steve Miller Band, etc. songs over and over and over again with ZERO deviation from the standard tired, boring, dead playlist that hasn't budged since 1989?

You can thank iHeartRadio / Clear Channel for that.
That's only part of it. Stations got their albums free from the record companies. When the switch was made to cd they had to go out and purchase replacements. With only so much money they bought the "best of cds" instead of the whole back catalog.
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Old 03-18-18, 06:05 PM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by rw2516 View Post
That's only part of it. Stations got their albums free from the record companies. When the switch was made to cd they had to go out and purchase replacements. With only so much money they bought the "best of cds" instead of the whole back catalog.
That may have played a minor role, but it was almost entirely driven by marketing execs. Those station playlists were programmed and mandated via corporate focus groups and the push was for immediate recognition and extending TSL at all costs.
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Old 03-18-18, 06:16 PM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by Hokeyboy View Post
That may have played a minor role, but it was almost entirely driven by marketing execs. Those station playlists were programmed and mandated via corporate focus groups and the push was for immediate recognition and extending TSL at all costs.
Even without mandated playlists, the stations don't have the music. To deviate from the playlists the DJ would have to bring in their personal copy of a cd.
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Old 03-18-18, 11:41 PM
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Re: iHeartRadio Files for Bankruptcy

I wanted to work in radio way back when- this company is one reason why I'm glad I didn't. Their "replacement" name is certainly ironic as they DON'T "heart" (love) radio.
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Old 03-19-18, 05:04 AM
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Re: iHeartRadio Files for Bankruptcy

Originally Posted by Red Hood View Post
Completely agree. These fuckers at Clear Channel have been the downfall of radio and it's diversity.
+2 or 3

I didn't know that they changed their name to iHeartwhatever.
But yeah, Clear Channel sucks. Good riddance.
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