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It was originally called Clear Channel communication, and they are the biggest radio company in America. The business is actually ok. The issue is that a few ye
by samfisher83 9y ago
It was originally called Clear Channel communication, and they are the biggest radio company in America. The business is actually ok. The issue is that a few years ago Bain capital did LBO. Basically they have a massive amount of debt on their balance sheet which they can't service.
If you look through their earning they are generating about 800 mil or so in profit. The issues they have like 1.2billion dollar interest payment.
This has kind of the been the MO for Bain Capital.