Broker Focus In ’17: iHeart, Cumulus Health
By Adam R Jacobson
RBR + TVBR
As is the case with many other media brokers across the U.S., there aren’t a lot of transactions happening for Larry Patrick, the founder and managing partner of Patrick Communications.
There are the FM translators—small-dollar deals “that will run its course in the next year or so,” Patrick says.
With a gaze on 2017, Patrick believes the radio industry—and the brokers active with radio station trades—are fearful of two major issues that could have far-reaching implications: iHeart Radio’s $20 billion debt and its brooding battle with its lenders, and Cumulus Media own $2 billion payment due to its lenders.