"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Bankrupt iHeart Media Steals From Artists To Pay Executive Bonuses
Submitted by A. Magnus on Wed, 2018-05-16 00:00
"Against a backdrop of massive debt, the company’s Board of Directors recently approved the Key Incentive Plan. So much for the $2 billion private equity owners lost. Oh, and the millions iHeartMedia still owes multiple artists, PROs, and labels. Now, the radio and online broadcaster has filed a new motion. No, not to pay back artists. Nor even to finally present the court with a viable business plan to get out of bankruptcy. No, of course not. The radio and online broadcaster wants a court to approve $108 million in bonuses, dubbed the ‘2018 Incentives Plan.’"
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