iHeart Restructures - Departures

[Y2kTheNewOldies]

https://radioinsight.com/headlines/...-to-z100-eau-claire-three-weeks-after-layoff/

Hannah Cole returns to Iheart at Z100 Eau Claire.

 

[TheBigA]

This is an interesting story...perhaps the first time I'm aware that iHeart pre-paid some of its debt:

https://www.rbr.com/debt-repayment-move-follows-big-layoffs-at-iheart/

For ten years, iHeart had been laying off staff, but I never saw there they used any of that money to pay down debt. They just used it either to meet expenses or invest in other business. Now, they're addressing the $5 billion debt. $150 million is just a drop in the bucket, but it's a start and looks good to investors. BTW Cumulus did the exact same thing after its bankruptcy.

 

[umfan]

https://www.washingtonpost.com/technology/2020/01/31/iheartmedia-radio-artificial-intelligence-djs/


An interesting discussion offering additional perspective on the iHM cuts. The most surprising thing to me was that they were only paying some on air people $12 an hour. Columbus, while not a huge market, is not a tiny market either. For that to be the wage of someone on the air, is kind of surprising.

https://www.cleveland.com/entertain...be-the-beginning-of-local-radios-endgame.html


This article asks if the iHeart cuts indicate the end of broadcast radio is near. IMO, this indicates the opposite. Painful as they are the cuts demonstrate an industry willing to change which should allow the broadcast stations to endure.

 

[TheBigA]

The most surprising thing to me was that they were only paying some on air people $12 an hour.

My first on air job paid minimum wage. I was in a market slightly bigger than Columbus. That was when minimum wage was a whole lot less than $12 an hour. As I said back then, if you're in radio for money, it's the wrong reason.