- The stock prices for America’s two largest radio station owners have fallen 93% and 78% respectively over the last year.
- iHeartMedia carries $20.6 billion in debt alone.
- Companies are spending profits simply on paying the interest on their debts.
It was inevitable, and it is inevitable. With the largest owners of American radio stations carrying around such an incredible debt burden, and working under an outmoded business model, the implosion and reorganization of the radio business is not a question of “if,” but “when.” And it might be happening sooner than later.
The two largest radio station owners in the United States—iHeartMedia (formerly Clear Channel) and…