iHeartMedia looks to cut $250 million to counteract COVID losses

Coronavirus has caused much of the world to come to a standstill and companies are having to cut costs big time. This week we heard how Live Nation are having to cut out $500 million…

All Def Digital owes creators up to $50,000 and file for insolvency

Following rumours of staff cuts and reports they were shutting down, All Def Digital are taking alternative steps to bankruptcy. All Def Digital, the entertainment brand founded by Def Jam co-founder Russell Simmons, are reportedly…

Gibson may emerge from bankruptcy, new guitars on the way

Gibson are synonymous with guitars after a 100+ year legacy, so their bankruptcy came as a shock. But it looks like they might crawl out from it yet. Back in May of this year we…

iHeartMedia have filed for bankruptcy to clear $20bn in debt

After weeks of uncertainty iHeartMedia are moving to resolve their massive debt by filing for bankruptcy. The past few weeks have been a tumultuous time for iHeartMedia Inc, owners of highly successful radio streaming platform…

iHeartMedia wipe $15B in debt, saving them 2 days of bankruptcy

iHeartMedia are on the very brink of going bankrupt but they’ve been given at least 2 more days until crunch time. In the past week iHeartMedia’s funds, or lack thereof, have been revealed and it…

iHeartMedia face bankruptcy but rivals’ investor Liberty Media could save them

iHeartRadio are facing financial breakdown but the investor coming to save the day has stakes in some of their biggest rivals. Radio streaming service iHeartRadio are facing trouble with debt and are looking to consolidate…

Gibson Guitars respond to rumours they are facing bankruptcy

Gibson Guitars are reportedly teetering on the edge of closure after over 120 years of defining guitars, but Gibson have something to say about these rumours. Last week reports circulated that suggested Gibson are in…

Gibson guitars face bankruptcy; “running out of time – rapidly”

One of the world’s most iconic guitar manufacturers, Gibson may run out of money very soon as debt payments loom. Gibson’s doors may soon close after over 100 years making top-quality guitars for everyone from…

With $20 billion debt iHeartMedia’s 110m weekly listeners may not be enough to save them

Despite being the largest owner of radio stations in the entire US, iHeartMedia worry about making it to the end of the year as their “ability to continue is a going concern”. iHeartMedia, the company…

SoundCloud raise $70 million in debt funding following “uncertainty”

SoundCloud have managed to acquire a massive $70 million in loan funding, earlier than their 2015 accounts predicted they would need to raise funds. According to new filings with the Companies House in the UK…