Home Login RADIO ONLINE RSS Facebook
Advertisement

Report: Clear Channel is ''Running Out of Options"


Clear Channel is ''running out of options,'' says the New York Post, after CC's outdoor unit failed to attract interest in a $3 billion debt offering. Clear Channel Outdoor was looking to sell the debt in two packages, with the first one paying 10% and the other paying 14%. But the lack of interest sets the stage for Clear Channel to fall out of loan compliance later this year, the newspaper speculates.

Clear Channel owns an 89% stake in publicly-traded Clear Channel Outdoor and the outdoor business owes Clear Channel about $2.5 billion. The debt offering could have allowed CC Outdoor to repay Clear Channel. Even so, if the outdoor unit raised the money, shareholders would likely protest if funds were used for the parent company. CC currently receives a 6% rate on the money it lent to the outdoor unit.

Advertisement

Latest Radio Stories

America's Top Testing Christmas Songs 2020
Are America's all-Christmas stations playing the right songs? P1 Media Group and MRC Entertainment tested the appeal of the 40 most-played and 40 most-streamed Christmas songs from the 2019 Holiday Season, according to BDSradio, a service that More

FCC Order Allows AM Stations to Broadcast All-Digital Signal
The FCC issued a Report and Order adopting rules to allow AM radio stations to broadcast an all-digital signal using the HD Radio in-band on-channel (IBOC) mode named MA3.1 The agency says that a voluntary conversion to all-digital broadcasting will More

Nielsen Webinar Discusses October 2020 PPM Data
Nielsen
Nielsen
Nielsen held a client webinar Tuesday on October, 2020 PPM data. This is the first monthly PPM data release that will see the results of its headphone adjustment and outlier mitigation enhancements, announced last month. The October PPM survey More
Advertisement

Townsquare Names Ish Johnson MP/CRO of Killeen-Temple, TX
Ishmael Johnson
Ishmael Johnson
Townsquare Media Inc. has named Ishmael Johnson Market President and Chief Revenue Officer for its Killeen-Temple local media cluster in addition to his current role of Market President and Chief Revenue Officer of Townsquare Lufkin. The cluster More

WIXV's Scott Honored With Outstanding Georgia Citizen Award
Don Scott and Rep. Carl Gilliard
Don Scott and Rep. Carl Gilliard
Cumulus Media has announced that WIXV-FM (I-95)/Savannah, GA Program Director and air personality Don Scott has been honored by the State of Georgia with the Outstanding Georgia Citizen Award for exemplary community service. The award is Georgia's More

Podchaser Pro Debuts Access to Reach, Contacts, Demos
Podchaser Pro
Podchaser Pro
Podchaser, a podcast database, has announced the release of its new service for podcast professionals entitled Podchaser Pro, bringing efficiency to the process of discovering, qualifying and contacting podcasts. The service builds upon its data set More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement