Tag: "debt default"
iHeartRadio’s Darren Davis Testifies Bankruptcy Threat Is ‘Disrupting’ Company’s Business. The debt default trial underway in Texas pitting iHeartCommunications against Benefit Street Partners LLC is being covered by Bloomberg’s Laura Brubaker Calkins. Yesterday’s star witness for iHeart was iHeartRadio president Darren Davis and in his testimony, he painted a picture of a company that was able to make its debt payments as it works to build a global digital music service, that is, until the debt default was declared. Calkins reports that Davis said as it stands now, the company’s line of credit has been reduced, its relationships with partners are strained, and it’s affecting iHeart’s ability to attract top, and in some cases, critical employees. The upshot is that the debt default issue is hampering the company’s goal of building iHeartRadio into the global content service that it believes it can be. The case stems from iHeartCommunications’ transfer of $500 million of Clear Channel Outdoor stock into the shell company Broader Media Inc. iHeart says the transfer was legal, and Benefit Street Partners LL says it was not. Read Calkins’ Bloomberg piece here.
WPRO, Providence’s John DePetro Ties with Rhode Island Governor as ‘Most Divisive.’ The Rhode Island digital publication GoLocalProv.com published a list of what it calls the state’s “Ten Most Divisive” personalities. Most of the 10 are politicians or are very involved with the state’s political process. However, tied for #1 with Rhode Island Governor Gina Raimondo is WPRO, Providence late morning talk show host John DePetro. The publication defines the list’s occupants as those who “generate the greatest emotion.” See the feature here.
The Presidential Race, Islamic State Iraq Bombings, Iran Nuclear Deal Hearing, Bathroom-Gender Laws, Facebook Anti-Conservative Allegations, Brazil and Venezuela Troubles, and NBA-NHL Playoffs Among Top News/Talk Stories Yesterday (5/17). The activities of the candidates for president, the Oregon and Kentucky primaries and Megyn Kelly’s Donald Trump interview; the recent deadly bombings in Baghdad by Islamic State; the House Oversight Committee hearing on the Obama Administration’s Iran nuclear deal; ongoing controversy over public restroom laws and gender identification; allegations Facebook’s trending stories are biased against conservative topics; the political and economic turmoil in Brazil and Venezuela; and the NBA and NHL playoffs were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
George Noory to Present Live Stage Version of ‘Coast to Coast AM’ in June. The event will take place on Saturday, June 18 at Lindenwood University in St. Louis beginning at 7:00 pm local time. Tickets are available for the show that will include a VIP meet-and-greet. It’s being produced by Emmis-owned KFTK-FM, St. Louis and Danheiser Entertainment. Guests on the show will include ufologist and nuclear physicist Stanton Friedman, rock historian and author R. Gary Patterson, St. Louis Radio Hall of Famer Mark Klose of KFTK, and Mark Farley, founding member of the St. Louis Paranormal Society and frequent guest of KFTK’s Dave Glover show. It’ll be available as a pay-per-view event as well.
CMG Names Heather Boethin to Gamut Sales Director Post. Named to the director of sales south for Gamut is Cox Media Group sales pro Heather Boethin. She’s based in Dallas and will oversee the territory of Atlanta, Dallas, and outlying areas. She’ll also work closely with CoxReps Digital on “driving high-level strategic initiatives between the two companies.” Gamut is a digital media services company owned by CMG.
WTMJ, Milwaukee Sends 140 Veteran to DC on ‘Stars and Stripes Honor Flight.’ Last Saturday (5/14), Scripps-owned news/talk WTMJ, Milwaukee sent 140 veterans on a trip from the city to Washington, DC to visit their war memorials. WTMJ afternoon host John Mercure led a “WTMJ Cares” fundraising project last October and the station’s listeners donated more than $250,000 to fund the flights. “WTMJ’s Operation Parallel” featured Mercure interviewing Veterans to tell their stories and what a trip to their war memorial would mean to them. The money was donated through two radiothon events and online giving. Stars and Stripes Honor Flight vice president Karyn Roelke says, “We are humbled by the absolutely incredible support of WTMJ Radio. Many of our veterans have already told us that, aside from their wedding day and the birth of their children, their Honor Flight day was the best day they have ever had. We owe such a debt of gratitude to the listeners and staff of 620 WTMJ for making this possible.” Pictured above are the veterans along with WTMJ staffers.