iHeartMedia bankruptcy means a stop to raiding Clear Channel Outdoor for capital (Seeking Alpha)
iHeartMedia has used Clear Channel Outdoors, which it controls, as its own personal piggybank for years. The company's bankruptcy likely means little recovery on the $1,051mm promissory note, but it at least puts a stop to raiding of the company for capital. Clear Channel Outdoors is a great cash-generating business with high margins, but iHeartMedia has allowed the leverage to get out of control. […]
Fri, Mar 23, 2018 at 4:05 PM