With iHeartMedia now in bankruptcy and much speculation on the eventual fate of Clear Channel Outdoor, Insider caught up with Max Drachman, V.P. at Kalil & Co., to get his thoughts on the possibilities. Max, there has been a lot of early speculation about what happens to Clear Channel Outdoor. […]
Now is a good time to refinance and extend your out of home company’s credit lines. Bank loan chargeoffs have been extremely low for the past 4 years. In response, banks are loosening credit terms and reducing loan spreads. Lower cost loans and easy credit terms will disappear when the […]
Insider reported on Monday that IHeartMedia and their lenders had entered into a Forbearance Agreement that gave iHeart until Thursday March 8th at 12:59 AM Eastern time to come up with a $106 million interest payment or enter into a restructuring agreement that they have been continuing to negotiate with their […]
Today’s update on iHeartMedia is via a Form 8-K filed March 5th noting that iHeart had entered into a Forbearance Agreement related to the interest payment that was due on February 1st in the amount of $106 million. As a part of that loan agreement iHeart had a 30 day […]
Lamar has outperformed the S&P 500, the S&P Media Index and the REIT Index over the past four years. Outfront and Clear Channel Outdoor have underperformed over the same time frame. Lamar is blue, Outfront is purple and Clear Channel Outdoor is yellow in the chart below. Source of Chart: […]
Since details are moving very quickly on Clear Channel Outdoor’s parent company iHeartMedia, Inc., Insider wanted to provide a couple of updates of interest before the weekend. In two separate 8-K Filings, iHeart Media shared: The Board of Directors has elected not to make interest payments due on March 1, 2018 […]
Lamar’s fourth quarter 2017 financials can be summarized in this Sean Reilly quip: “We under-achieved on top-line growth, but its also fair to say, we did an outstanding job managing expenses.” Here are the highlights from Lamar’s fourth quarter 2018 earnings release and Seeking Alpha earnings call transcript. Revenue increased […]
Outfront reported flat fourth quarter 2017 organic revenues but increased cashflow due to controlled expenses. Here are the highlights from the 4Q 2017 press release and the Seeking Alpha earnings transcript. Revenues increased 1% to $401 million during the fourth quarter of 2017. Organic revenue, adjusting for acquisitions and currency […]
In an SEC 8-K filing dated February 9th, it appears that iHeart Communications and the Lender group, representing $20 billion in debt, may be very close to a deal. The filing indicated that on February 8th, the Lender group provided to iHeart the following term sheet which includes: A Pre-packaged/Pre-arranged […]
NEW YORK, Feb. 5, 2018 /PRNewswire/ — Vector Media, an innovative media company specializing in large-format transit media, traditional Out-of-Home (OOH) media and the creation of interactive brand experiences, today announced the acquisition of Direct Media USA, one of the nation’s largest municipal transit advertising companies. The combined company will maintain transit […]
