Brace Yourselves, Change Is In The Air!
Adrian J Cotterill, Editor-in-Chief
Earlier this week Clear Channel UK, not only called an all-staff meeting but also called in, all of the key media specialists in London for a series of briefings.
Everyone is (rightly) being tight-lipped about all of this but our guess is that the top level meetings that took place earlier this week were ‘brace yourselves’ meetings.
Last night, parent iHeartCommunications, Inc. slipped out a press release ‘iHeartCommunications, Inc. Announces Extension Of Private Offers To Holders Of Its Five Series Of Priority Guarantee Notes And Its Senior Notes Due 2021 To Exchange Such Notes For New Securities‘ basically extending its debt swap deadline from today to 16/2/18.
The reason being a BIG ONE and that is because, by Wednesday this past week, ONLY USD36.7m or 0.4% of outstanding debt notes had been tendered for exchange.
Change in ownership is inevitable and surely imminent?
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