Reuters reported on Friday the 21st that a group of iHeartMedia lenders have signed a cooperation agreement to oppose the debt overhaul of the largest owner of U.S. radio stations and the parent company of Clear Channel Outdoor. Insider has previously reported on iHeart and their proposed debt swap. The proposal […]
Tag: iHeart Media
iHeart Media Stock Is Moving Up
Since we reported on the iHeart Media debt swap proposal, there have been some signs of how the market might react. iHeart Media is a privately held company with Bain Capital and Thomas H. Lee Partners owning the bulk of the old Clear Channel Radio since 2008. However, there is […]
iHeart and Clear Channel Outdoor May Be Separating
First, the press release. San Antonio, TX, March 15, 2017 – iHeartCommunications, Inc. (“iHeartCommunications”) today commenced private offers (the “Term Loan Offers”) to lenders under the Company’s Term Loan D and Term Loan E facilities (“Existing Term Loans”) to amend the Existing Term Loans and/or exchange them for new term […]
Creative and Ad Industry Leaders join with the Ad Council to Stop Texting and Driving
NEW YORK, March 1, 2017 – Prominent leaders from the advertising, media, entertainment and social entrepreneurship industries are teaming up to prevent texting and driving in partnership with Project Yellow Light, a national public service advertising (PSA) contest and scholarship program. The panel of judges will include actress, YouTuber and […]
Clear Channel Outdoor Pays Dividend
As previously announced, on February 9, 2017, the Board of Directors of Clear Channel Outdoor Holdings, Inc. (the “Company”) declared a special cash dividend payable on February 23, 2017 (the “Payment Date”) to Class A and B stockholders of record at the closing of business on February 20, 2017 (the “Record Date”), in an […]
iHeart and Existential Questions About CDS
An Insider shout out to Gabe Oliverio at Johnsen, Fretty & Company who sent us the following DebtWire Radio podcast on iHeart Media and a discussion of their options as they came upon a mid-December payment deadline on a $250 million debt payment. As you may know iHeart Media, Inc. is the […]
Updates On iHeart Media & Clear Channel Outdoor
Two new updates on Clear Channel Outdoor and their parent company iHeart Media. First, some good news for iHeart. iHeartMedia Inc. won dismissal of Gamco Asset Management’s claims that iHeart shortchanged investors by improperly diverting revenue from its billboard-advertising unit. Gamco couldn’t make the case that iHeart media executives violated legal […]
Clear Channel Outdoor Holdings, Inc. Sells Interest in Adshel to Joint Venture Partner APN News & Media for AUS $268.4 Million
October 24, 2016 09:50 PM Eastern Daylight Time SAN ANTONIO–(BUSINESS WIRE)–Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), a subsidiary of iHeartMedia, Inc. (PINK:IHRT), announced today that its Clear Channel Outdoor International segment will sell its interest in Australian out-of-home media company Adshel to joint venture partner APN News & Media (ASX, […]
iHeart Seeks Additional $500 Million
In a recent 8-K filing with the SEC, iHeart Communications, Inc. the commencement of a consent solicitation to seek the consent of holders of its outstanding Senior Notes due 2021 to a proposed amendment to the indenture governing the Notes. The proposed amendment, if adopted, would amend their senior credit […]
Gamco Not Happy with iHeart
Insider has reported frequently on iHeart Media’s debt problems as they own 90 percent of the equity of publicly traded Clear Channel Outdoor Holdings, the nation’s largest billboard company. Mario Gabelli’s Gamco Asset Management owns 10 percent of the publicly traded shares. Gamco has not been happy with iHeart, owned […]