Clear Channel Facing 2016 Debt Issues
December 4, 2012

Clear Channel Communications is facing major debt issues in its future, as over $10 billion in debt is slated to come due in 2016. Moody's and Reuters report that this massive debt will be due without CC being forced into a restructuring of the company's balance sheet.

While Clear Channel has managed its short-term debt, by 2016 the media giant "will have debt levels that are greater than its expected asset value." According to Moody's analysts, "The possibility of a restructuring or a distressed exchange remains high." Also, Moody's believes that CC's "efforts to avoid a restructuring and refinance or extend its debt load will likely depend on the receptivity of the financial markets and moderate underlying interest rates."

In January 2016, $8.2 billion in bank debt will come due for CC, followed by another $1.9 billion later in the year. Moody's analyst Scott Van den Bosch says that if Clear Channel " is to have a realistic chance of refinancing $10.1 billion in debt in 2016, its operating performance will need to improve well above current levels."

Reuters notes that CC has made multiple moves in 2012 to reduce its debts and move maturing debt out of this year into the future, including Clear Channel Outdoor issuing new notes, allowing the company to make over $1.9 billion in cash to pay down debts that would have been due in 2014.




 
Breaking News
CBS Corporation Extends Chairman/President/CEO Les Moonves
KDMX (102.9 NOW)/Dallas Adds Kannon In Afternoon Drive
Entercom-Charlotte Signs Contract Extension with Matt & Ramona Show
May 19, 2017
Cumulus Media Oxnard/Ventura Names Matthew "Doughboy" Florence PD For KVYB
Westwood One Presents Backstage at the BBMAs
May 18, 2017
iHeartMedia St. Louis Names Maurice DeVoe PD For KMJM (100.3 The Beat)
May 17, 2017
Atlantic Records Promotes Dionnee Harper & Marsha St. Hubert To SVPs of Urban Marketing
Entercom San Diego & Portland Form Partnership With Pearl Jam's Vitalogy Foundation
Vevo Announces New Hires On Original Content Team
May 16, 2017
Universal Music Group & Tencent Music Entertainment Group Enter Stategic Agreement
B96/Chicago To Host Niall Horan, Stream Live Performance
May 15, 2017
Cumulus Reports First Quarter Results
National Radio Hall of Fame Announces 2017 Nominees
Heidi Raphael Named VP/Corporate Communications for Beasley Media Group
Beasley Media Group & jacapps To Debut Customized WRIF iPhone Stickers
May 12, 2017
eQB NOW
Cumulus Media Promotes Troy Hanson To VP/Operations For Chicago Station Group
May 11, 2017
iHeartMedia New Orleans Names Steve McNair Market President
Emmis Announces Fourth Quarter and Full-Year Earnings
98.5 KLUC/Las Vegas Promotes Jon Que To Music Director
In Brief - May 11, 2017
May 10, 2017
iHeartMedia Denver Names JoJo Turnbeaugh Regional SVP/Programming
Music News
It's a Sign of the Times: Harry Styles Debuts at #1
Drake Dominates Billboard Music Awards
Chris Cornell's Wife Issues Statement on His Death
Rocker Chris Cornell Dead at 52
The Entertainment World Remembers Chris Cornell
FMQB Photo Pass: Metallica
Katy Perry Announced as First Judge for American Idol Reboot
Katy Perry Announces New Album Witness, North American Tour
Rapper Logic Debuts Atop Billboard 200
Quick Hits: Beyonce, Kendrick Lamar, Paramore
Jay Z Inks $200 Million Deal with Live Nation
iHeartRadio Streaming Exclusive Harry Styles Station
Jay Z, Chili Peppers & Gorillaz Headlining New York's Meadows Music and Arts Festival
Quick Hits: Miley Cyrus, SIA, The National, Modest Mouse
Quick Hits: The Grammy Awards, Imagine Dragons, Calvin Harris, Harry Styles, Katy Perry, The Rolling Stones, Snoop Dogg / Linkin Park
FMQB NOW

Nicki Farag,
SVP of Promotion,
Def Jam Recordings

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!