Basically, American Radio Is Being Suffocated By Billions in Debt & Could Implode Any Moment

Basically, American Radio Is Being Suffocated By Billions in Debt & Could Implode Any Moment

The two largest radio station owners in the United States—iHeartMedia (formerly Clear Channel) and Cumulus Media—both have billions in debt, are both looking to restructure that debt to avoid bankruptcy or default, and are both dealing with dwindling profitability. Even when the companies are able to post strong quarterly earnings, the interest on the debt they owe makes it impossible to see a way forward.