SiriusXM looking to acquire part of iHeartRadio?
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I don't have an answer either just guesses. There must be some assets, some agreements that would benefit them. Maybe another avenue to subscribe and listen to SiriusXM using the Iheart App, maybe they want access to more radio stations.
All this holding company stuff makes my head spin. Whoda thunk that IHeartMedia would own a billboard company (Clear Channel Outdoor)?
I wonder if they'll ever unravel the corporate rat's nest that is John Malone.
I wonder if they'll ever unravel the corporate rat's nest that is John Malone.
wondering the same thing guys the folks who use the DTS play-fi app using iheart radio i wonder what is going to happen to them?
more news
Liberty Media Offers To Acquire 40% Stake In IHeartMedia.
Liberty Media has submitted a proposal to acquire a 40% stake in a restructured iHeartMedia that would give the investment firm four seats on the company’s board of directors. Under the proposal, submitted on Saturday, Liberty would invest $1.159 billion in cash in iHeart. Liberty and Sirius XM Radio, which Liberty owns a majority stake of, would equally split 40% of newly issued shares in the recapitalized company.
The offer comes as a grace period triggered by a loan payment iHeart intentionally skipped is set to expire later this week. An iHeart spokesperson had no comment on the bid, which could be one of several which investors make as iHeart continues to negotiate a potential chapter 11 bankruptcy reorganization plan with its lenders.
Liberty Media Offers To Acquire 40% Stake In iHeartMedia.
more news
Liberty Media Offers To Acquire 40% Stake In IHeartMedia.
Liberty Media has submitted a proposal to acquire a 40% stake in a restructured iHeartMedia that would give the investment firm four seats on the company’s board of directors. Under the proposal, submitted on Saturday, Liberty would invest $1.159 billion in cash in iHeart. Liberty and Sirius XM Radio, which Liberty owns a majority stake of, would equally split 40% of newly issued shares in the recapitalized company.
The offer comes as a grace period triggered by a loan payment iHeart intentionally skipped is set to expire later this week. An iHeart spokesperson had no comment on the bid, which could be one of several which investors make as iHeart continues to negotiate a potential chapter 11 bankruptcy reorganization plan with its lenders.
Liberty Media Offers To Acquire 40% Stake In iHeartMedia.
It seems almost likely that Liberty drove SiriusXM's participation in this deal.
The only difference I see is that I Heart Radio perhaps doesn't pay royalties on recordings released prior to 1972 and SiriusXM pays on everything they play. In contrast, broadcast radio pays no music royalties.
That is one thing. Is there some kind of a loophole for SiriusXM, if they broadcasted songs on an FM outlet? I don't think so, but I'm trying to think of any possible angle.
Clear Channel Outdoor would be an entire division that would be removed from Clear Channel's holdings. You typically can't own stock in individual divisions.
You probably shouldn't look at this as a buy-back either.
I don't think that FM stations pay royalties on their Internet broadcasts so that's probably not a reasonable explanation.
The whole question of royalties has been controlled by the terrestrial broadcast radio lobby so it doesn't seem likely that they'll open any doors to relieve SiriusXM of what everyone (or, if you're criminally self-righteous, nobody) should be paying.
They had to merge to survive..XM was tied too closely to GM..GM was in total collapse mode taking XM with it..both survived
Not to get political but I still don’t think the merger should have been allowed by the government. The government instead got involved and passed the merger when they simply should have let them fail. If there was a market for it, it would come back.
True..but Sirius had non compatible technology and would not have been able to take over XM accounts..merger was the only way satellite radio could have survived..XM was installed in the vast majority of cars with satellite radio
This is almost impossibly difficult to do as they have to go back to the drawing boards in terms of music licensing (something they may not have been doing faithfully as I recall) as a new organization. There's also the issue that GM was primarily interested in XM as the carrier for OnStar that they replaced some years ago with wireless phone service. In a bankruptcy, most of the parts are wholesaled or broken up as necessary and that might mean that the satellite constellation gets separated from the streaming company.
Keep an eye on Toys-R-Us and see if the employees manage to recover some of it (they're shooting for around 45% of the stores).
I think if Sirius were that concerned about interoperability, they would have released some of the hybrid radios that the gubmint had required them to build.
Still in use.
Seems odd that they never consolidated. I believe there are still Sirius radios made.
IIRC, Sirius actually had some advantages, perhaps in orbital selection, but kinda squandered it with poorly made radios.
I think it’s a Sirius radio in our 2016 Outback, but they try to disguise that by only referring to it as a SiriusXM radio.
Channel lineups are still a bit different, I believe.
Seems odd that they never consolidated. I believe there are still Sirius radios made.
IIRC, Sirius actually had some advantages, perhaps in orbital selection, but kinda squandered it with poorly made radios.
I think it’s a Sirius radio in our 2016 Outback, but they try to disguise that by only referring to it as a SiriusXM radio.
Channel lineups are still a bit different, I believe.
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