This now triggers a 30 day window in which iHeart would likely need to file for bankruptcy protection to stop creditors from picking apart the company.
So what do you think will happen now? Do you think the creditors will try to work with them?
The creditors have not wanted to budge thus far. I feel that protection thru bankruptcy may be the only option now. This is just like what Cumulus is doing right now.
If a bankruptcy does happen, will there be any immediate impact on the Chicago cluster?