After a great deal of bluster and promises to eliminate federal funding for the arts and public broadcasting, Donald Trump signed a $1.3 trillion spending bill that actually increases funding for the threatened programs last week. In February, Trump released a proposed budget that threatened to cut the Corporation for…
Category archives: Broadcast & Satellite
TOP POSTS: This Week’s Most Read Posts On Hypebot
In our most popular posts on Hypebot this week, we covered in detail the woes of a bankrupt iHeartMedia, Sony discusses a purchase of EMI Music Publishing, Spotify is revealed to be losing millions on underpriced subscriptions, and more. iHeartMedia Bankruptcy Talks Extended Yet Again Bankrupt iHeartMedia Owes Musicians Millions…
Bankrupt iHeartMedia Owes Musicians Millions
Included in the mountains of documents filed in preparation for last night’s iHeartMedia bankruptcy were lists of unpaid bills. Alongside $20 billion in debts to bondholders were performing rights organizations, record labels, a music streamer, and others that return revenue to musicians. Here’s a partial list of the millions of…
iHeartMedia Files Chapter 11 Bankruptcy
iHeartMedia has filed a Chapter 11 Bankruptcy plan that includes reduction of its $20.8 billion debt by $10 billion. The expected filing, which comes after months of haggling with creditors, falls short of earlier proposals that would have reduced overall debt by $15 billion, and does not include a cash…
NME and The Accelerating Decline Of Print Publications
Venerable music industry magazine NME announced the end of its print edition last week, following in the fated footsteps of many similar publications. It’s demise was inevitable, says analyst Zach Fuller of MiDIA, in large part because the print advertising apocalypse is gathering speed. ________________________________ Guest post by Zach Fuller…
iHeartMedia Bankruptcy Talks Extended Yet Again
A new forbearance filed with the SEC on Wednesday morning gives iHeartMedia yet another day to come to terms with its $20 billion in creditors. Today marks the sixth extinction in talks in the last two weeks. iHeartMedia’s latest bankruptcy deadline is 11:59PM CST on Wednesday March 14, 2018. The…
iHeartMedia Bankruptcy Talks Extend To Midnight Tonight
[TUESDAY 3.13.18 8AM ET] The bankruptcy and reorganization of iHeartMedia has been postponed for another 24 hours, according to an SEC filing overnight. Creditors have agreed to a forbearance agreement granting the nation’s largest radio broadcast group until 11:59PM CT today to reach terms for a reorganization. iHeartMedia owns 855…
iHeartMedia Admits It Has No Deal With $20B In Creditors, Bankruptcy Deadline Looms
iHeartMedia admitted in a Monday morning SEC filing that is has been unable to come to terms with its $20 billion in creditors despite weeks of negotiations. Unless an agreement is reached or the creditors grant another extension by 11:59 CST today, Monday 3/12, the countries biggest radio group would…
iHeartMedia Bankruptcy Delayed To Today For Awards Show
iHeartMedia’s likely bankruptcy was reportedly pushed to later today to avoid distracting from the company’s signature iHeart Radio Awards show, which was televised live on Sunday night. The delay also gave negotiators more time to prepare for an organized restructuring of the company’s $20 billion in debt. On Friday, the…
iHeart Radio Music Awards 2018 – Full Winners List
One day before a looming bankruptcy deadline for parent iHeartMedia, Thomas Rhett, Sam Hunt, and Luke Combs were among the big winners at the fifth iHeartRadio Music Awards last night. The evening was hosted by Hailey Baldwin and DJ Khaled and included live performances from Ed Sheeran, Eminem featuring Kehlani,…