iHeartMedia and Creditors Still at Odds Over Asset Shift. According to a report from Bloomberg, iHeartMedia and a number of its creditors have broken off talks to try to resolve the rancor over iHeartMedia’s shift of 100 million shares of Clear Channel Outdoor to a new subsidiary called Broader Media. Creditors including D. E. Shaw, Canyon Capital, Franklin Advisers and Franklin Mutual sued iHeartMedia over the move claiming that it violates the debt covenants. iHeartMedia argues that’s not the case and the move is designed to allow the company to deal more effectively with its $20 billion in debt. iHeartMedia told a Texas judge that if the creditors’ bond defaults are allowed to proceed, it would cause as much as $15 billion of the company’s debt to come due quickly and that would force the company into bankruptcy protection. The creditors argue that is not what they are trying to accomplish. iHeartMedia SVP and treasurer Brian Coleman says the company’s maneuvers are part of its Project Indigo, a long-term strategy designed to allow it to study ways to deal with its debt.
The Panama Papers, The Presidential Race/Wisconsin Primary, Iran Arms Shipment Case, North Korean Nuke Threats, Tennessee Bible Bill, and NCAA Championship Among Top News/Talk Stories Yesterday (4/4). The so-called “Panama Papers” that reportedly link numerous world leaders to schemes to hide wealth in off-shore accounts; the activities of the candidates for president and today’s Wisconsin primary; the capture of illegal arms being shipped by Iran; the threats of nuclear attacks by North Korea; the controversial Tennessee bill that makes the Bible the official state book; and Monday evening’s NCAA Men’s Basketball championship were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Eric Zane Lands at Sports WBBL, Grand Rapids. After exiting the nationally syndicated “Free Beer and Hot Wings” show based at Townsquare Media’s rock WGRD, Grand Rapids, Eric Zane has landed the morning show gig at Cumulus Media’s crosstown sports talk WBBL, effective April 7. Zane officially left the show in mid-February after being absent from the program without explanation. It appears Zane’s departure was the result of a contract dispute. Now, he’ll compete in the Grand Rapids market directly with his former co-hosts Gregg “Free Beer” Daniels and Chris “Hot Wings” Michels. The “Free Beer and Hot Wings” show is syndicated nationally by Compass Media Networks.
Lineup at ‘Altitude Sports’ in Denver to Launch on Friday. The newest sports talk radio station in the Denver market will officially launch on Friday, April 8 – the home opener day for the Colorado Rockies. Much of the news about Stan Kroenke-owned KRWZ, Denver (recently purchased from Entercom) is not really news as it’s been rumored and reported in the Denver media for some time. Here’s the lineup: Josh Dover hosts “The Morning Lineup” from 6:00 am to 7:00 am; the morning show will feature Tom Helmer, Lauren Gardner (an Altitude TV reporter), and former Denver Nuggets star Scott Hastings. Middays will be hosted by Vic Lombardi and Kyle Keefe. The station will also carry play-by-play of the NBA’s Nuggets, the NHL’s Avalanche; the MLS’ Colorado Rapids; and the National Lacrosse League’s Colorado Mammoth.
Odds & Sods. There’s been a morning show and midday program re-build at CBS RADIO’s KHTK, Sacramento. Carmichael Dave is now joined by Kayte Christensen and former midday host Nate Goodyear. In middays, Jason Ross is partnered up with newcomers Ken Rudolph and Damien Barling. Jay Johnson joins the station as executive producer…..Long Nine Inc.-owned news/talk WMAY, Springfield, Illinois adds an FM translator to its broadcast with the addition of W234CC, Sherman, Illinois at 94.7 FM.
Dr. Toni Grant Dead at 72. The cause of death is unknown at this time, but the Los Angeles Times is reporting that former radio talk show host and psychologist Dr. Toni Grant died in Beverly Hills on March 27. Grant’s radio career was launched on KABC, Los Angeles in 1975 in the overnight daypart. Her show eventually moved across town to KFI. It went into syndication and at its height was heard on some 180 affiliates. She was off the air from 1990 to 1997 when she re-entered the business. She last worked on air at KABC in 2001. Read the Times’ obit here.
Cool Job Opportunity. “PowerTalk 1360 and 1280” is searching for a local talk show host for afternoon drive in California’s Central Valley. Applicants must have spoken-word experience. General necessities include a passionate, opinionated, outspoken, larger-than-life personality with decidedly conservative values, obsession for news, politics, pop culture, and sports. The ideal candidate will bring an intuitive understanding of the unique values, morals and issues of the California Central Valley and be in sync with those values and perspectives. You must have the ability to speak to the audience as one of them; put a voice to their thoughts and beliefs…much more important than professional polish or experience. In a perfect world you have spent time working in the Central Valley but you don’t have to presently live in the Modesto/Stockton area. You will fully embrace the role of a LOCAL personality: specifically address and engage the LOCAL community issues, organizations, and interests, capitalize on endorsement opportunities, serve as station ambassador, be visible at all community functions, spearhead station and cluster community outreach. You must understand and dedicate your performance to the bottom line: your goals are ratings and unique visitors. See required skills and submit resume and demo here.