Debt

  1. Layoffs Hit Major-Market Clear Channel Stations

    December 07, 2012 4:54 PM EST Clear Channel Media and Entertainment is going through another round of layoffs, this time with cuts taking place at many of the company's major market clusters. According to reports, the cuts have effected stations in Los Angeles, Dallas, Mi ...

  2. Warner Music Inks Refinancing Deal with Lower Interest Payments, Balance Sheet Flexibility

    November 07, 2012 4:23 PM EST Warner Music Group has successfully completed a refinancing that will reduce its annual interest payments by about $43 million annually, Billboard estimates. As well as lowering interest payments, the world's third largest music company is al ...

  3. Warner Music Refinances for Lower Debt Payments

    October 17, 2012 11:42 AM EDT Warner Music Group is refinancing part of the $2.21 billion in debt that Len Blavatnik's Access Industries used to finance its acquisition in 2011, according to a regulatory filing . The world's third-largest music company kicked off a t ...

  4. Warner Music Group Plans Modest Restructuring Under Access Ownership

    July 25, 2011 9:00 AM EDT Now officially under new ownership , the Warner Music Group plans to achieve cost savings between $50-65 million over the next 27 months. The company plans to achieve those saving through "certain planned corporate restructuring initiatives,& ...

  5. Access Industries Completes Acquisition of Warner Music Group

    July 20, 2011 12:51 PM EDT Access Industries has completed its acquisition of the Warner Music Group ahead of plan, thanks to compliant regulatory agencies and a resilient bond market willing to absorb $1.045 billion in a new bond offering from the company and shareholders ...

  6. Borders To Liquidate Assets Upon Court Approval

    July 18, 2011 7:31 PM EDT NEW YORK (AP) - Borders Group is seeking court approval to liquidate its 399 stores after it failed to receive any bids that would keep the 40-year-old chain in operation and canceled an auction process. BORDERS FILES CHAPTER 11, TO CLOSE 200 STOR ...

  7. Access Reveals Its Warner Music Acquisition Financing Plan in Proxy Statement

    May 23, 2011 4:57 PM EDT Access Industries plans to finance its planned $3.3 billion acquisition of the Warner Music Group by putting up $1.118 billion in equity, obtaining $1.045 billion in bridge loans from Credit Suisse AG and UBS Loan Finance. It will ask the senior s ...

  8. Borders' Chapter 11: What Impact Will It Have On The Music Business?

    February 16, 2011 6:34 PM EST The Borders Group's Chapter 11 filing shouldn't have too much of an impact on the music industry in general: Over the last two years the Ann Arbor-based merchant has made deep cuts in its music commitment. But it will have a big impact o ...

  9. Muzak Files For Bankruptcy

    February 10, 2009 12:00 AM EST Muzak Holdings LLC, the maker of elevator music, filed for Chapter 11 bankruptcy protection Tuesday. The company had heavy debt load, and it filed to try to refinance some of its debt. Its total debt is between $100 million and $500 million and it ...

  10. Country Music Shrine To Keep Historic Instruments

    December 31, 2008 12:00 AM EST The Country Music Hall of Fame and Museum will get to keep historic instruments from Bill Monroe, Johnny Cash and Mother Maybelle Carter pledged by a man who committed suicide after being accused of defrauding millions from investors. The settleme ...

  11. Who Will the Financial Crisis Hit Next?

    December 31, 2008 12:00 AM EST Tribune Co. recently filed for Chapter 11 bankruptcy protection and National Amusements violated a debt covenant. The moves beg the question: Who, if anyone, could be next in the broader media and entertainment industry? The global financial crisi ...

  12. NZ Retailer Prepares To Sound-Off

    January 23, 2008 12:00 AM EST Liquidation is looming for New Zealand's largest specialty music retailer Sounds, with the administrators of its parent company recommending it be wound-up. In a report issued today (January 23), administrator BDO Spicers recommends that the ...

  13. NZ's Sounds Music Enters Into Administration

    November 21, 2007 12:00 AM EST The owner of New Zealand's biggest specialist chain Sounds Music has gone into voluntary administration. After months of industry speculation about the fate of the group, BDO Spicers have today been appointed administrator of Icon Digital Ent ...

  14. Creditor Votes Due For Tower Records Plan

    July 17, 2007 12:00 AM EDT Creditor votes are due tomorrow on the Tower Records disclosure statement and the process plan. That plan calls for an impartial third party to be named as the sole administrator to decide disputes between the various creditor classes going forwar ...

  15. The Source Files for Bankruptcy

    May 01, 2007 12:00 AM EDT Source Magazine LLC and affiliate Source Entertainment Inc. have filed for Chapter 11 bankruptcy after dishonest business practices by former management caused the hip-hop media outlet's advertisers to flee, according to court papers. The com ...

  16. RETAIL TRACK: OPENING ROUND

    September 23, 2006 12:00 AM EDT Just because a liquidator appears to be the only bid so far in the Chapter 11 auction of Tower Records doesn't mean the chain will be liquidated. Good thing, because for many in the industry, a Tower Just because a liquidator appears to be th ...

  17. RETAIL TRACK: OPENING ROUND

    September 23, 2006 12:00 AM EDT Just because a liquidator appears to be the only bid so far in the Chapter 11 auction of Tower Records doesn't mean the chain will be liquidated. Good thing, because for many in the industry, a Tower Just because a liquidator appears to be th ...

  18. RETAIL TRACK: OPENING ROUND

    September 23, 2006 12:00 AM EDT Just because a liquidator appears to be the only bid so far in the Chapter 11 auction of Tower Records doesn't mean the chain will be liquidated. Good thing, because for many in the industry, a Tower Just because a liquidator appears to be th ...

  19. Tower Records Files For Bankruptcy

    August 21, 2006 12:00 AM EDT Tower Records filed a Chapter 11 petition in federal bankruptcy court yesterday (Aug. 20). The owners want the court to facilitate a prompt sale of their business "as a going concern" so that a buyer MTS Inc. and all of its subsidiaries, ...

  20. 'Suge' Knight, Death Row File For Bankruptcy

    April 04, 2006 12:00 AM EDT Debts total more than $120 million. Debts total more than $120 million. News ...

  21. 'Suge' Knight, Death Row File For Bankruptcy

    April 04, 2006 12:00 AM EDT Debts total more than $120 million. Marion "Suge" Knight Jr. and Death Row Records filed petitions for bankruptcy today (April 4) avoiding more than $120 million in debts and the threat of a California judge ordering a court officer to t ...

  22. WMG Stock Ends Second Day Down 1.8%

    May 12, 2005 12:00 AM EDT Warner Music Group stock fell another 1.8% in its second day of trading, closing at $16.10 today (May 12). The stock is down 90 cents from the $17 price tag it carried when it issued its IPO. Warner Music Group stock fell another 1.8% in its secon ...

  23. WMG Eyes $581M From IPO

    April 08, 2005 12:00 AM EDT Most proceeds will pay debt, owners. Most proceeds will pay debt, owners. News ...

  24. Lenders Shutter Dart Distributing

    February 07, 2005 12:00 AM EST Dart Distributing, a Chaska, Minn.-based rackjobber, was apparently shut down Jan. 28 when its lender pulled the plug on its revolving credit facility. Dart Distributing, a Chaska, Minn.-based rackjobber, was apparently shut down Jan. 28 when its ...

  25. Bono To Address European Leaders On 3rd World

    May 28, 2004 12:00 AM EDT U2 frontman Bono will try to persuade European Union ministers to extend debt relief programs for the world's poorest countries when he addresses a special meeting in Dublin on Tuesday (June 1). U2 frontman Bono will try to persuade European ...

  26. Bono To Address European Leaders On 3rd World

    May 28, 2004 12:00 AM EDT U2 frontman Bono will try to persuade European Union ministers to extend debt relief programs for the world's poorest countries when he addresses a special meeting in Dublin on Tuesday (June 1). U2 frontman Bono will try to persuade European ...

  27. Bankruptcy Court OK's Initial Tower Motions

    February 10, 2004 12:00 AM EST Chain granted ability to pay pre- and post-petition debt. Chain granted ability to pay pre- and post-petition debt. News ...

  28. Update: Tower Files For Chapter 11 Bankruptcy

    February 09, 2004 12:00 AM EST As expected, Tower Records filed for Chapter 11 protection this morning (Feb. 9) in the U.S. bankrupcty court in Wilmington, Del., with a fast-track plan that calls for the company to emerge within 3 As expected, Tower Records filed for Chapter 11 ...

  29. Update: Tower Files For Chapter 11 Bankruptcy

    February 09, 2004 12:00 AM EST As expected, Tower Records filed for Chapter 11 protection this morning (Feb. 9) in the U.S. bankrupcty court in Wilmington, Del., with a fast-track plan that calls for the company to emerge within 3 As expected, Tower Records filed for Chapter 11 ...

  30. Retail Track

    February 09, 2004 12:00 AM EST Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . News ...

  31. Retail Track

    February 09, 2004 12:00 AM EST Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . News ...

  32. Retail Track

    February 09, 2004 12:00 AM EST Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . News ...

  33. Update: Tower Turns To Chapter 11 Court

    February 05, 2004 12:00 AM EST When Tower Records heads into a Delaware bankruptcy court within the next week, the first motions it files are expected to be one that will convert bondholders into majority owners of the chain and on When Tower Records heads into a Delaware bankr ...