Nbadan
04-20-2010, 11:49 PM
Looks like the evil-empire is on the brink of collapsing in on its own debt all the while over-paying gass-bags who lecture us 24-7 about a govt that is on the brink of collapse on its own debt...now that's irony for all you wingnuts!
The New York Post reports that if Clear Channel, the nation’s largest radio owner, is unable to restructure their debt in the next few years it will likely collapse.
A source tells the newspaper that CC, which also operates the highly-successful WLTW/Lite-FM and WKTU, has not done well in negotiating with lenders to refinance their exorbitant debt.
Private-equity owners Bain Capital and THL Partners bought CC in a $24 billion leveraged buyout in 2008. If the company can’t manage to change its capital structure, sources say, it will ultimately default on the $18.4 billion debt.
A lender says Clear Channel generates $1.4 billion in cash flow while paying $1 billion in interest and spending $200 million on capital expenditures. Therefore, the company has only $200 million in yearly cash flow available.
Clear Channel has a $700 million bill coming due in May 2011 and $4.5 billion due in July 2014. Sources tell the Post, that CC should have $2 billion in disposable cash that should help them make it through 2011, however getting to, and beyond, 2014 is a tougher issue.
Examiner (http://www.examiner.com/x-5468-NY-Media-Examiner~y2010m4d14-Report-Clear-Channel-on-verge-of-collapse)
Looks like wing-nut radio isn't self-sufficient after all! I think the Spurs should make the move to KTSA now, DUEL!
The New York Post reports that if Clear Channel, the nation’s largest radio owner, is unable to restructure their debt in the next few years it will likely collapse.
A source tells the newspaper that CC, which also operates the highly-successful WLTW/Lite-FM and WKTU, has not done well in negotiating with lenders to refinance their exorbitant debt.
Private-equity owners Bain Capital and THL Partners bought CC in a $24 billion leveraged buyout in 2008. If the company can’t manage to change its capital structure, sources say, it will ultimately default on the $18.4 billion debt.
A lender says Clear Channel generates $1.4 billion in cash flow while paying $1 billion in interest and spending $200 million on capital expenditures. Therefore, the company has only $200 million in yearly cash flow available.
Clear Channel has a $700 million bill coming due in May 2011 and $4.5 billion due in July 2014. Sources tell the Post, that CC should have $2 billion in disposable cash that should help them make it through 2011, however getting to, and beyond, 2014 is a tougher issue.
Examiner (http://www.examiner.com/x-5468-NY-Media-Examiner~y2010m4d14-Report-Clear-Channel-on-verge-of-collapse)
Looks like wing-nut radio isn't self-sufficient after all! I think the Spurs should make the move to KTSA now, DUEL!