Rock N Roll and Bankruptcy
I’m a Bankruptcy attorney.
I like Rock N Roll.
While driving on road trips I listen to ‘Classic’ Rock N Roll. It’s upbeat which helps me to stay alert.
The iHeart APP is my favorite streaming APP for radio stations.
But, as of March 15, 2018, iHeart Radio was saved by filing bankruptcy!
Streaming radio to your car’s entertainment system is BETTER! I have a decent enough stereo and speaker system in my car, but I discovered something…
If I listen to 93.1 “Jack FM” it sounds WAY BETTER if I stream it from my phone through Bluetooth compared to sourcing it from the car’s radio FM BAND! Incredibly better.
93.1 “Jack FM” is KCBS, a Culver City, CA radio station owned by Mass Media. This popular station used to be the famous Los Angeles Rock ‘N’ Roll station KLOS in the 60’s and 70’s.
FM radio was touted as static-free and clear when compared to AM radio. However, in all my tests, STREAMING radio stations always sound FAR BETTER: deeper, richer, and clearer! Try it! Test my findings…
When in the “Classic Rock” mood, there’s another fun station I like: 93.1 “The Mountain” (KYMT is a Las Vegas, NV radio station actually owned by iHeartMedia) and a favorite for travelers driving to and from Las Vegas and the Colorado River. Streaming 93.1 ‘The Mountain’ allows you to listen to it in incredible digital clarity and without geographical interruptions.
Unfortunately, iHeartMedia was rumored to be going broke! They were facing going out of business because of 20-billion dollars of debt.
iHeartMedia filed for Chapter 11 bankruptcy, Thursday, March 15, 2018. By filing bankruptcy, they can STOP their creditors and regroup. They have an opportunity to remain in business, with legal protection, as they restructure their business and go forward.
That makes me happy. I want iHeart to have the opportunity to survive and get stronger.
My Bankruptcy Clients Can Survive Too
The iHeart Media Bankruptcy Filing is a strong message. Approximately half of potential clients exploring how bankruptcy might be able to help them, ask me: “What will people think?” What will people think if they file bankruptcy?
Well, for starters, who’s going to know? If you don’t tell anyone, the only people who will know are your creditors. Creditors are usually big ‘entities’ (credit card companies, banks, mortgage lenders, etc.) where you are nothing more to them than an account number that they are currently pressuring for payment. If you file bankruptcy they don’t shout about it. The courts don’t broadcast your private business either. So, not much to worry about.
Filing bankruptcy enables you to STOP creditor harassment and lawsuits — exactly what iHeartMedia was facing. Individuals, couples, and small business owners can make the same business decision that iHeart made. You too can choose to get a financial reboot.
I am personally relieved that my iHeart Radio App is still there! I am happy that I can listen to any radio station in America no matter where I am without shopping for another APP. I am hopeful that iHeartMedia will come out of bankruptcy stronger and with a bright new future.
Similarly, I am personally relieved that I’ve helped 1,000’s of Orange County residents do the same! I’ve been able to assist individuals, couples and small businesses do what iHeart did on a smaller, more-personal scale here in Orange County, California.