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posted by mrpg on Friday March 16 2018, @03:33AM   Printer-friendly
from the sad-to-hear-you-go dept.

Largest U.S. radio company iHeartMedia files for bankruptcy

IHeartMedia Inc filed for Chapter 11 bankruptcy on Thursday as the largest U.S. radio station owner reached an in-principle agreement with creditors to restructure its overwhelming debt load.

The company, which filed for bankruptcy along with some of its units, said it ā€¨reached the agreement with holders of more than $10 billion of its outstanding debt for a balance sheet restructuring, which would reduce its debt by more than $10 billion.

IHeartMedia, which has struggled with $20 billion of debt and falling revenue at its 858 radio stations, said cash on hand and cash generated from ongoing operations will be sufficient to fund the business during the bankruptcy process.

iHeartMedia.


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  • (Score: 2) by ilPapa on Friday March 16 2018, @06:27AM (1 child)

    by ilPapa (2366) on Friday March 16 2018, @06:27AM (#653414) Journal

    Even the guy running a pizzeria gets nailed for having music in his place.

    While I still listen to radio, its mostly talk shows I will listen to.

    Screw corporate radio, but don't give up on music radio. And especially don't give up on locally owned and operated stations. I've moved across the country in the past three years, and I've found everything from a station in Pittsburgh that plays deep cut doo-wop from the Golden Age to a station in Connecticut that plays very hip East Coast garage rock to several cool stations down in Houston that play zydeco or blues or gospel or serious classic country music (not country hits, not contemporary country, but the good old good ones).

    Now I'm in California's central coast and I've got two (three when the weather's right) college stations that play all the crazy stuff the kids are listening to, and sometimes reggae or sometimes experimental electronic stuff and no fewer than three public stations that play classical, jazz and have pretty interesting talk shows during the day. There's even a station - and I'm not exactly sure where it's coming from - that plays Hawaiian music in the morning (slack key, Brudder Iz, like that) and surf instrumentals in the afternoon. I don't think I've ever heard a commercial on that station. Somebody with low power engaged in an act of love. I just switched the radio on at random and one of my presets is playing late-70s/early-80s punk rock. "Oh Bondage, Up Yours by X-Ray Spex just ended and TV Eye by the Stooges (a live version!) is just kicking off.

    Two things are required if you're gonna explore the tasty underside of terrestrial radio though: First, you need a decent radio. I've got a nice Tecsun and an older C Crane that can pull in the far-off stuff. Second, you should get your hands on an HD-Radio. There are cool stations that stay below the radar because so few people have the HD-radios.

    --
    You are still welcome on my lawn.
    Starting Score:    1  point
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  • (Score: 0) by Anonymous Coward on Friday March 16 2018, @07:56AM

    by Anonymous Coward on Friday March 16 2018, @07:56AM (#653445)

    I get Blues and Bluegrass from Pacifica's KPFT in Houston.
    Audio Archive [kpft.org]
    Playlists [kpft.org]
    I also like Lone Star Jukebox and their Americana thing.
    I once heard their Martini Time and thought that was fun.
    They just started carrying an hour of Baroque and Beyond.

    Not music, but something for folks who are tired of what passes for political reporting from Lamestream Media: They put Jimmy Dore on, twice a week.
    (Monday's is the unbleeped version.)
    I find that comedians often do a better job of telling me what's happening than do "journalists".

    They have Professor Richard Wolff's Economic Update, David Barsamian's Alternative Radio, and Ralph Nader too.

    .
    Pacifica's KPFA in Berkeley has some repeaters.
    You might be getting some of the broadcasts of their numerous music shows.

    I'm in California's central coast
    [...]
    a station - and I'm not exactly sure where it's coming from - that plays Hawaiian music

    One day when the atmospherics were just right, I caught a bit of a show that was playing really old jazz from 78s.
    A bit of Googling and it turned out to be a station in Avalon (Santa Catalina Island).

    -- OriginalOwner_ [soylentnews.org]