I heart bankruptcy...and moving forward

[Wimmmex]

This article in Forbes tends to think that iHeart will start a "major selloff" of their radio stations.

https://www.forbes.com/sites/geneel...major-selloff-of-radio-stations/#556ce06212bd

Expect to see a dramatic shedding of radio stations, likely hundreds, many at rock-bottom prices.

I would have thought if they had bottom dwellers or stations actually LOSING money, they would have sold them off a long time ago.

What do you think we will see from the (new) iHeart?

 

[TheBigA]

If you search the writer Gene Ely, you'll find a lot of similar anti-iHeart comments. Pittman addressed the story last week:

In an internal memo to employees Thursday, Pittman and Bressler took aim at an opinion piece that appeared in Forbes this week, from a writer with a history of bashing the company, who, without any proof, said many iHeart stations were going to be sold off. Pittman and Bressler referred to the writer as “sadly misguided and uninformed.” Nobody really knows what will happen once iHeart (and Cumulus) are restructured, however, everyone agrees these restructures were exactly what was needed.

https://radioink.com/2018/03/23/pittman-bressler-pump-up-the-troops/

If there were lots of potential owners out there, you would have seen more of a fight over WLUP in Chicago. Instead it went to EMF.

As you know, there are lots of iHeart stations available at rock bottom prices right now in the Ocean Trust.

I agree with you: If they had stations to sell, they would have gone by now. The main thing they need to get rid of is debt, and that's what this is about.