44

iHeartMedia reorg might be imminent as Liberty begins buying debt


While the movement appears to be sudden, it is the result of speculation about iHeart’s financials that has lasted for a couple of years as the company has operated under a mountainous debt structure established during a previous reorganization 10 years ago. Coincidental timing is at play in today’s the new burst of information, as Liberty’s Q4 earnings call happened yesterday. CEO Greg Maffei was forthcoming with his vision of how iHeartMedia could fit into Liberty’s radio sprawl which includes a 19% ownership of Pandora.

Here is what Greg Maffei said about timing and resolution: “[The bankruptcy] filing of iHeart is likely to be somewhat near term and the full resolution of iHeart emerging whether it’s with our participation or on its own is more likely something that, it doesn’t happen till towards the end of the year.”

Maffei also divulged that some amount of debt purchase has started. “We have bought a position in the iHeart debt which we believe is economically attractive and I would note that we have bought a sufficient amount of debt to fund virtually all of our proposed equity commitment,” Maffei said.

The earnings call coincided exactly with iHeartMedia’s decision to default on a March 1 debt interest payment (a February 1 payment was also skipped, forcing a 30-day grace period), quickening the need for action of some kind. It seems likely that iHeart will proceed through a bankruptcy process, and that Liberty aspires to fund that, emerging on the other side with a near-half ownership of the radio behemoth.

Naturally investors on the call expressed considerable interest in the business rationale behind Liberty’s ambition to own a chunk of iHeartMedia. “I think there are potentially substantial synergies between iHeart and both Pandora and Sirius,” Maffei said. “The Sirius ones are probably more of a revenue nature, the opportunities are on cross-promotion around sharing personalities.” He also referred to reinforcing iHeart’s position in the automobile, where of course Sirius XM primarily (and successfully) operates. He mentioned protection the position that FM radio has in the car.

Shifting his comments to synergies with Pandora, the chief executive made comments about shared technology and leveraging sales forces. On that last point, Maffei said this: “The sales force at iHeart is a very powerful one and larger than substantially in the ad sales force of either Pandora or Sirius and much more focused on some of the local components.”

Stay tuned.

 

Brad Hill

44 Comments

  1. Norton is one such name which is widely accepted as “The Best Antivirus” worldwide. There are millions of Norton users who have faith in it. This software is widely recognized for giving the best of product and services to their valuable customers. Products offered by Norton are built with the high-quality security advantages which always results in a better way.

  2. Avg.com/Retail:- Know step by step process how to download, install and activate the AVG product. Enter your AVG license for AVG Retail registration and AVG antivirus installation online at www.avg.com/retail or Call AVG activation support number for further assistance by certified experts.

  3. Step by Step guide for Mcafee Activate, Download & complete installation online. We are providing independent support service if in case you face problem to activate or Setup Mcafee Retailcard.

  4. If you are looking for a printer that is good for your business and your personal use as well, then you should go for a Lexmark Printer. Lexmark International Inc.

  5. Kaspersky is word leading Antivirus and Cybersecurity Multinational company situated in Moscow, Russia. Kaspersky Lab is committed to work with their customers and provide the best security possible

  6. Do you know about Quicken? It is a personal finance management tool designed and developed by Quicken.Inc, previously, it was a part of the Intuit, Inc., which was associated with the software. Alternatively, it’s money management software which was released in 1983.

  7. Dell printer is a machine which accepts graphic and text output from a computer system and easily transfers information that you want to print to the paper, usually, the standard size sheet of papers such as A4. However, there are an array of printers available with a different name, cost, and features around the world.To get any of the printer Security Solution to the device, the users need to follow the three interrelated procedures that includes download, install, and activate printer.

  8. If you are having any kind of login problem in your Arlo camera while you login first time in your computer or mobile device then visit this website to solve your problem. https://arlologin.org/

  9. Arlo Support for Arlo Camera Setup Issues, Log In, Connection Issues, Multiple Devices Setup, Login Issues etc. Quick Fix for common issues. Call now at +1-844-456-4180 Toll Free Number for Arlo Support

  10. It contains the option of all in one printing option. So, it is advised that you should not ignore any measures when it comes to take Epson Printer Offline for getting the suitable outcome. Get the worthy contribution of our third party professional team so that any technical error in device cannot cast the bad impact on your business productivity. Dial our Epson Support for soon error recovery. In order to know more information.

  11. Wow really good blog need more information.
    Hey I am los Bassett we provide you AOL technical support to guidance and helps for all kinds of doubts and queries that a person can have.

  12. Do you want to update Garmin GPS? Are you facing difficulties to update Garmin GPS? Do you want to use Garmin GPS to track unknown roads? If yes, our Garmin experts have higher level of knowledge of updating Garmin GPS in the right ways. You’re unable to track the road, you can call our Garmin experts to get the complete guidance to track the roads exactly. Our Garmin experts are available online to help you on how to update Garmin GPS. Our helpline number is open round the clock to provide quick help for any difficulty.

  13. Activate McAfee retail card now. Redeem your crucial 25-digit code on McAfee.com/activate and Download McAfee.
    McAfee.com/activate helps to activate any McAfee products for PCs, MAC, or other devices. McAfee download setup you can download and activate product key.
    Activate McAfee IS Retail card now. Redeem your 25-digit code on McAfee.com/activate. McAfee Antivirus, McAfee Livesafe, McAfee Total Protection, etc

  14. Thank you so much for sharing this information, it is easy to learn while reading such articles. Get the solutions to all the technical issues with all your Microsoft products at Microsoft Office 365 Support.

  15. Free Robux Generators is the website which provides you the chance to get free robux currency without spending a couple of money on the game’s online store to buy them. With the use of our website you can easily generate it from logging in to our website and get the gaming id entered into it. As soon the gaming id gets entered into the website you will got the option to generate the currency and after the successful generation of the currency you can transfur it to your game app and enjoy the new version of gaming with new character and their accessories.

  16. The best online website to generate the free robux currency used in the unlock of various gaming accessories and characters and bring a new touch to the online game.With a view to getting the access to the website you have to just login to the website and generate the currency for your online favourite game.

  17. use free vbucks generator tool to create unlimite free vbucks by these free vbucks you can unlock your favorite character in fortnite for more information you can visit our website.

  18. Robux is the currency that is gained by players on the Roblox platform by logging in to it. Free robux generator gives freedom to players to manipulate the game environment by earning robux.

  19. the best gaming IDE is here users can build their own game and also earn free robux in the right ways, no hack or other black techniques are needed.

  20. if you are facing any kind of error while using McAfee then you can simply visit our website where we cover all-most each and every error in details, also you can get help from our technical assistant. we are 24*7 available for our users.

  21. McAfee is an antivirus that is most commonly used, it is the most popular and the best antivirus, it is an antivirus that has been used since the first appearance of the virus. McAfee offers a full range of security products such as antivirus, firewall and anti-spyware programs that provide us protection against viruses, threats and malware.

  22. if you are looking for antivirus then we suggest you download Mcafee activate for total protection. if you had a premium version of mcafee and face any kind of technical error then you can visit our website.

  23. mcafee provides the best system security for your pc, laptop or tablet from online threats whether it is a virus, malware or spyware.it is prevents the malware and Secures the important information.visit now:-

  24. Mcafee.com/activate Antivirus software works to block viruses from entering your computer system and kill or quarantine viruses that have some broken.Download, Install and Activate your mcafee product card from mcafee live safe, mcafee total protection, internet security.

  25. Mcafee antivirus is used for securing data and devices such as computers, laptops, and mobile phones. It is highly suggested to have an updated antivirus to keep the system safe from threats.if you have any query related to then contact now.

  26. Norton antivirus is the principal decision of each antivirus client, who needs to shield their own framework or gadget from outside infections. Be that as it may, here and there, you have confronted any sort of issue identified with Norton Antivirus Setup and you need to get a moment arrangement, at that point you can contact our specialists by simply making a call or internet talking or visit our site.

  27. Webroot.com/safe: Avail world-class web-security on your

    computer with Webroot. Quickly download, install, and

    activate the product by visiting webroot site.

  28. Dear admin, first of all, thank you so much for sharing such useful information with us, I really like your writing style, you are doing such amazing work and your information is very useful for me, I have also something here to share.

  29. if you are looking for McAfee activate product key then you can simply visit our website where we cover the full process to get product key. if you have premium version of mcafee then you can visit our website and share your problem with our technical assistant. we will solve your problem related to
    mcafee.com/activate and we are 24*7 available for our users. for more help, you can call our technical assistant.we are 24*7 available for our users.

  30. if you need so many Free vbucks to unlock your favorite character or outfits then download vbucks generator tool by which you can create so many vbucks and use them in fortnite.

  31. you can use free robux generator to get robux. by using free robux you can get more features and powers to enjoy Roblox game

Leave a Reply

Your email address will not be published. Required fields are marked *