Clear Channel & CBS will file Bankruptcy

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Posted by JunkBond on February 11, 2009 at 18:01:29:

In Reply to: Big Media Debt Headaches: Clear Channel Today, CBS Next Week? posted by chicagomedia.org on February 11, 2009 at 11:37:34:

The writing is on the DJ bathroom wall! Clear Channel just borrowed $1.6 billion to try to make it through this year. And their advertising revenues are still down. February 20th is coming up with more LAYOFFS.

CBS has 1.6 billion bond that matures next year, and about $500 million cash. They are down 25% in advertising revenue from this time last year, and it's not getting better. CBS will soon be filing for bankruptcy. Probably before Clear Channel does. The Pink Slip man is coming!

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: The writing is on the DJ bathroom wall! Clear Channel just borrowed $1.6 billion to try to make it through this year. And their advertising revenues are still down. February 20th is coming up with more LAYOFFS. : CBS has 1.6 billion bond that matures next year, and about $500 million cash. They are down 25% in advertising revenue from this time last year, and it's not getting better. CBS will soon be filing for bankruptcy. Probably before Clear Channel does. The Pink Slip man is coming!

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