iHeartRadio Files for Bankruptcy
03-15-18 | 09:00 PM
#1
Thread Starter
DVD Talk Hero
iHeartRadio Files for Bankruptcy
America's largest radio company had over $20 billion in debt
https://pitchfork.com/news/iheartrad...ankruptcy/amp/
I wonder how long they'll last. This is happening at the same time Spotify is about to go public.
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.
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.
03-15-18 | 09:05 PM
#2
Banned by request
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.
03-15-18 | 09:55 PM
#3
DVD Talk Godfather
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/
Here's an article talking about it being destined to fail when the buyout happened:
http://observer.com/2017/04/iheart-r...buyout-doomed/
03-16-18 | 06:25 AM
#4
DVD Talk Legend
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.
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.
03-16-18 | 09:00 AM
#5
Thread Starter
DVD Talk Hero
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.
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.
03-16-18 | 09:26 AM
#6
DVD Talk Legend
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!!"
03-16-18 | 09:47 AM
#7
DVD Talk Special Edition
Re: iHeartRadio Files for Bankruptcy
They've been around for two decades?! I honestly never heard of them until just a few years ago.
03-16-18 | 09:57 AM
#8
Thread Starter
DVD Talk Hero
Re: iHeartRadio Files for Bankruptcy
^ They didn't rename to iHeartRadio until late 2014.
They were Clear Channel from 1972 to 2014.
They were Clear Channel from 1972 to 2014.
03-16-18 | 10:20 AM
#9
DVD Talk Legend
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.
03-16-18 | 10:31 PM
#10
DVD Talk Godfather
Re: iHeartRadio Files for Bankruptcy
Hmm, I was at our local iHeart building today doing an install for them. That check better clear.
03-17-18 | 06:57 PM
#12
DVD Talk Legend
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.
03-17-18 | 09:53 PM
#13
Banned
Re: iHeartRadio Files for Bankruptcy
Completely agree. These fuckers at Clear Channel have been the downfall of radio and it's diversity.
03-18-18 | 01:12 AM
#14
DVD Talk Hero
Re: iHeartRadio Files for Bankruptcy
03-18-18 | 08:15 AM
#15
DVD Talk Legend
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.
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.
03-18-18 | 10:33 AM
#16
DVD Talk Legend
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.
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.
You can thank iHeartRadio / Clear Channel for that.
03-18-18 | 01:33 PM
#17
DVD Talk Legend
Re: iHeartRadio Files for Bankruptcy
It sounds like one of my Brennan B2 playlists.
03-18-18 | 03:27 PM
#18
Re: iHeartRadio Files for Bankruptcy
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.
You can thank iHeartRadio / Clear Channel for that.
03-18-18 | 05:05 PM
#19
DVD Talk Legend
Re: iHeartRadio Files for Bankruptcy
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.
03-18-18 | 05:16 PM
#20
Re: iHeartRadio Files for Bankruptcy
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.
03-18-18 | 10:41 PM
#21
DVD Talk Reviewer & TOAT Winner
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.
03-19-18 | 04:04 AM
#22
