This was obvious from the day IHeartRadio was created, if you were paying attention to Clear Channel’s public statements – and especially if you know a lot about Bob Pittman.<\/p>\n
Clear Channel is dropping “radio” from its iHeartRadio name, now to become iHeartMedia which will probably spin off into other brands like iHeartPizza<\/p>\n
The IHeart brand is now the face of Clear Channel, sponsoring concerts and award shows. You can take it to the bank there will be a wildly successful iHeart IPO, which will use the proceeds to pay down the $20 billion in debt – or alternatively be split from Clear Channel, and send the radio stations and the $20 billion into bankruptcy court or “reorganization” by the lenders.<\/p>\n
Brands are big money, even if they make no profit. Wall Street chases anything that has a name people know. It’s all about building brands.<\/p>\n","protected":false},"excerpt":{"rendered":"
This was obvious from the day IHeartRadio was created, if you were paying attention to Clear Channel’s public statements – and especially if you know a lot about Bob Pittman. Clear Channel is dropping “radio” from its iHeartRadio name, now … Continue reading