Digital Gabe
Cutting Edge Commentary On All Things Media

Polishing The Bankruptcy Turd

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My DG spies were roaming the back alleys of the media world yesterday to see how iHeart would handle the bankruptcy topic with clients and agencies.  We found multiple examples of this passage in emails sent from iHeart sellers to their customers. (iHeart Doc)  At some level I’m sympathetic for these reps.  The company has put them in a challenging situation and they assuredly care about keeping their jobs.  Anyone in that moment would try hard to salvage their business.

But the way iHeart is positioning its situation is practically gleeful.  They make Chapter 11 bankruptcy sound like a great new business strategy all companies should aspire to.  Have you ever heard a company begin explaining their bankruptcy with “pleased to announce” before?  I’m sure their stockholders weren’t too pleased about losing all their investment value yesterday.

Spin overkill like this actually hurts the situation more than it helps, because it turns into a credibility buster for the messenger.  In fact the only winner I can see here is the person who wrote this piece – with spin skills like that they might be a good candidate for Trump’s next Press Secretary (sorry, I couldn’t resist).  Back to the tap dancing . . .

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