News

Late last month iHeart asked senior debtholders to allow the company the flexibility to increase its debt – in the future if it chooses to – by $500 million to $17.3 billion. On Tuesday, iHeart announced it received the approval it was asking for. The noteholders will receive $8.6 million in return. Read the press release HERE.

Broker Larry Patrick fills us in on the $4.5 million sale of five small-market stations in Pennsylvania being sold by First Media to Seven Mountains. Yesterday, we told you about Forever Media picking up WCEI-FM in Easton, Maryland, from First Media for $6.5 million cash.

The well-respected and highly accomplished Kevin Weatherly is staying on with CBS Radio for several more years. A contract extension with CBS Radio was announced Tuesday that will keep Weatherly in his role as Senior Vice President of Programming, CBS RADIO, and Program Director of Los Angeles’ KROQ-FM, KAMP-FM, and KCBS-FM.

In an interview highlighting his new deal with CBS, Kevin Weatherly explains to Forbes contributor Steve Baltin why brands like KROQ in L.A. are still very important to big-time artists like Sting, U2, and Coldplay despite the media's love affair with streaming companies.

Earlier this year, after sitting in a trust since 2011, KFWB-AM was sold to Universal Media Access for $8 million. On Tuesday, it was announced that the station, which was carrying a South Asian format, was being purchased by Howard and Jim Kalmenson's Lotus Communications for $11.2 million.

And Kevin LeGrett (pictured) will become the new division’s President, which will include many regions formerly in its Central Division. The new division will now include the Los Angeles, San Diego/Riverside, Arizona, Red River, Houston, Dallas, and Austin/San Antonio Regions.

Dave Adams has been named Senior VP of Programming for iHeart's Tucson market. Adams moves to Tucson from St. Louis where he was Brand Manager for KLOU/KLOU HD-2. He also previously programmed iHeartMedia’s WRNW/WRIT in Milwaukee.

WTMJ Milwaukee host Charlie Sykes will step away from his daily radio show at the end of 2016. For 23 years, Sykes has hosted mid-mornings on WTMJ and has been one of the most listened-to talk show hosts in the Midwest. Here's why Sykes is walking away from the mic...

MLB's National League Division Series begins Friday and five CBS Radio stations will host live broadcasts from Wrigley Field that morning.