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TexasTowelie

(117,467 posts)
Thu Aug 3, 2017, 09:26 PM Aug 2017

iHeartMedia edges closer to bankruptcy with $174 million 2Q loss

iHeartMedia Inc. lost $174 million in the second quarter as the radio, billboard and digital giant edged closer to bankruptcy, struggling under more than $20 billion in debt, the company said Thursday.

The San Antonio-based company’s second-quarter loss narrowed from $278.9 million during the same three months last year, the company said in releasing its earnings results Thursday. It was the company’s 28th loss over the last 29 quarters.

Revenue dropped to $1.59 billion in the second quarter, from $1.62 billion a year ago, a 1.5 percent decline.

Analysts right now aren’t concerned about profits as its been more than seven years since the company has been solidly profitable. They are, instead, keeping a close watch on iHeartMedia’s cash flow, which is key to its ability to stay afloat.

iHeartMedia, which owns more than 850 radio stations and sponsors popular music festivals across the U.S., reiterated its April 20 warning to investors that it may not survive another year.

Read more: http://www.mysanantonio.com/business/local/article/iHeartMedia-narrows-second-quarter-loss-to-174-11730883.php

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iHeartMedia edges closer to bankruptcy with $174 million 2Q loss (Original Post) TexasTowelie Aug 2017 OP
Let's all remember iHeartRadio used to be ClearChannel... regnaD kciN Aug 2017 #1
Looks like iHeartMedia gets no love. n/t PoliticAverse Aug 2017 #2
Douche Limbabble AZ8theist Aug 2017 #3
Remember Clear Channel Wellstone ruled Aug 2017 #4

regnaD kciN

(26,639 posts)
1. Let's all remember iHeartRadio used to be ClearChannel...
Thu Aug 3, 2017, 09:28 PM
Aug 2017

...and was right up there with Faux as purveyors or the Right-Wing Noise Machine.

AZ8theist

(6,553 posts)
3. Douche Limbabble
Thu Aug 3, 2017, 10:16 PM
Aug 2017

Isn't iHeart Douche Limbabbles' employer? It would be such a travesty, such a shame that the fat anti-American lying sack of pedophilia shit bag loses his employer....
I for one, would be SOOOO UPSET!!!

 

Wellstone ruled

(34,661 posts)
4. Remember Clear Channel
Thu Aug 3, 2017, 10:41 PM
Aug 2017

was owned by Red McComb previous owner of the Vikings and Georgie the least's personal friend. The same Guy who received special Federal waivers to build a Rich Guy's Housing Project north of Pagosa Springs Colorado.

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