So, it finally happened: iHeartMedia, owner of 850 radio stations nationwide – including eight in Los Angeles – announced on March 14th that it had entered into a court-supervised restructuring through a Chapter 11 bankruptcy filing.
This comes just weeks after giving bonuses to top-level executives.
Interestingly, many observers miss the point. CNN reported, for example, that “The company has struggled with falling revenue. It was down in 2015, barely grew in 2016 and fell in the...