IHeart/Clear Channel bankruptcy gets final signoff

The Federal judge in Texas has agreed to the proposed plan to bring iHeart out of bankruptcy. The asset rich Clear Channel Outdoors (billboards, airport displays, European transit stops) will be split from IHeart and be given to creditors, who will likely launch an IPO and get at last some of their money back.

https://radioinsight.com/headlines/173949/bankruptcy-court-approves-iheartmedia-restructuring-plan/

Getting rid of the debt obligations might allow iHeart to have cash flow beyond paying interest on their debt, however look for Pittman to “do more deals” with the cash rather than paying down the remaining debt.

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1 Response to IHeart/Clear Channel bankruptcy gets final signoff

  1. briand75 says:

    Pittman kind of reminds me of that scene where Slim Pickens rides the nuclear bomb all the way down to detonation.

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