RadioInsight for Tuesday 24 May 2016
 

RadioInsight

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Politico: Is Rush Limbaugh in Trouble?

Posted: 24 May 2016 10:20 AM PDT
http://www.politico.com/magazine/sto...k-radio-213914





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Wheatstone Interviews the Broadcast Industry

Posted: 24 May 2016 10:06 AM PDT
http://wheatstone.com/wheatstone-int...dcast-industry





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iHeartMedia Wins Debt Transfer Lawsuit

Posted: 24 May 2016 08:33 AM PDT
https://radioinsight.com/blog/headli...-debt-lawsuit/



iHeartMedia has won its lawsuit over the transfer of debt that couldve
forced the company into default.

Texas state District Judge Cathleen Stryker ruled that the bondholders
suing over December 2015 transfer of assets to Broader Media, Inc. in order
to raise capital cannot file default notices against iHeart. The company
had transferred 100 million shares of Clear Channel Outdoor Holdings to
Broader Media for the purpose of issuing new debt to pay back its expiring
debt in an attempt to pay off the $20.75 billion it owes.

The bondholders issued default notices in March prior to iHeart winning a
temporary restraining order leading into the trial. iHeartMedia released
the following statement following its courtroom victory:

Today, the State District Court in Bexar County, Texas ruled in our favor
when it determined that our contribution of Clear Channel Outdoor Holdings,
Inc. stock to our subsidiary Broader Media, LLC was a permitted investment
under our financing agreements.

The strong performance of our operating business provides us with the
flexibility to manage our capital structure in a prudent manner. In full
compliance with our financing agreements, we will continue to evaluate
opportunities to strengthen our balance sheet.

We look forward to constructive discussions with our lenders as we continue
to position iHeartMedia for long-term growth.