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Capstar TX, LLC, As Debtor in Possession??

L

leoingle

I see Capstar, who's parent is iHeartMedia, has file for bankruptcy but still controls C101. Does anyone know anything on this deal? Does that put C101 in jeopardy?
 
leoingle said:
I see Capstar, who's parent is iHeartMedia, has file for bankruptcy but still controls C101. Does anyone know anything on this deal? Does that put C101 in jeopardy?
Click to expand...

iHear's stations are licensed to dozens of wholly owned subsidiaries; names were never changed as there was no reason to spend the money on a purely legal matter that did not affect listeners or the business.

iHeart is working on a packaged Chapter 11 to, in its simplest terms, reduce debt. This is done in part by giving equity to debt holders and in part by negotiating the loan amounts. None of this should affect the actual day to day workings of the radio stations. It will, though, put iHeart in a position to buy additional stations if wanted.
 
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