Bleak predictions for future of iHeartRadio
SAN ANTONIO -- iHeartRadio is giving more bleak predictions about its future, and the Department of Justice is putting forth big demands to approve the AT&T-Time Warner merger. It’s all in today’s Jane King Report.
San Antonio-based iHeartRadio says it may not be able to last another year.
In its latest filing with the Securities and Exchange Commission, the media company is warning investors it could be overwhelmed by its debt.
The company has $20 billion of debt related to a leveraged buyout with Clear Channel back in 2008.
The company is trying to restructure that debt so it can survive.
- KJ97 (Country)
- Q 101.9 (Soft Rock)
- 96.1 NOW (Top 40 & Pop)
- 104.5 (Latino Hits)
- WOAI Radio (News & Talk)
- The Bull (Country)
- Ticket 760 (Sports)
- KZEP-HD2 (Classic Rock)
- La Preciosa 105.7 (Spanish)
AT&T – Time Warner Deal
The Trump Administration is saying that in order for the $85 billion AT&T - Time Warner merger to go through, Time Warner has to sell a group of channels, including CNN.
They could also sell off DirecTV, which is unlikely as AT&T just bought it.
Some are crying foul, saying President Trump’s personal issues with CNN is at the heart of the demand. But the Department of Justice says the merger would be too much consolidation in media.
Kroger vs Amazon
Kroger is thumbing its nose at Amazon.
It is using Google and Microsoft’s cloud service to store data instead of Amazon.
CNBC reported that Kroger’s executives say why support Amazon’s business when it is competition through its purchase of Whole Foods.
Tinder App a Big Hit
Dating app Tinder says its new premium service is a big hit.
Tinder gold added a record 476,000 paying members last quarter.
Now 2.5 million customers pay for tinder. Tinder Gold costs $9.99 a month.
It lets customers see who they've matched with as soon as they open the app.
Facebook in the Nude
Facebook is asking users for nude photos – for or a good reason?
Facebook is trying to fight revenge porn by asking users for naked photos. This is just being done in Australia at the moment.
If a person is concerned about this, they fill out a form and send a picture. Facebook can tag it to prevent it from showing up on the site.