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A comment on We're Entering a Golden Age of Podcasts. Parent comment

Re:We're Entering a Golden Age of Podcasts by Dirlewanger on Thursday February 21, 2019 @01:00PM (#19218949)
iHeartMedia is a junk stock and will probably delisted from NYSE soon. Stuff Media will be gutted and lost in the ensuing chaos in the coming years as iHeart desperately attempts again to restructure their debt. Both them and Cumulus Media serve as yet another sad tale of what happens when PEGs descend on in for the rape and pillage.
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Re:We're Entering a Golden Age of Podcasts by pmoriarty on Thursday February 21, 2019 @03:20PM (#19220220)
Just out of curiosity, what are PEGs?
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Re:We're Entering a Golden Age of Podcasts by Dirlewanger on Thursday February 21, 2019 @03:34PM (#19220327)
Private equity groups. Several have been brokering their debt restructuring over the years. Here's their most recent complete restructuring from about a year ago (http://www.insideradio.com/free/restructuring-will-wipe-bill...) (they're currently in bankruptcy at the moment.)
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Re:We're Entering a Golden Age of Podcasts by pmoriarty on Thursday February 21, 2019 @03:40PM (#19220370)
So what incentive do they have for "rape and pillage" of companies if they ruin them and themselves in the process?
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Re:We're Entering a Golden Age of Podcasts by Spooky23 on Thursday February 21, 2019 @06:42PM (#19221739)
Because the partners collect big fees on the way in and out.

Toys R Us is a great example. The PEG people invested 20%, dumped the debt on the Toys R Us balance sheet, and yielded at least $200M in fees. They are also able to harvest paper losses to offset taxes.

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Re:We're Entering a Golden Age of Podcasts by pmoriarty on Thursday February 21, 2019 @07:27PM (#19222000)
Pardon my ignorance, but who's paying their fees, and why would anyone pay fees to people who ruin companies and pocket fees for doing a poor job?
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Re:We're Entering a Golden Age of Podcasts by Spooky23 on Friday February 22, 2019 @09:50AM (#19225760)
The acquired company. The people running the company are the people collecting the money.

Why would they do so? They are “turning the company around!”.

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Re:We're Entering a Golden Age of Podcasts by detaro on Thursday February 21, 2019 @03:22PM (#19220239)
I'd guess "private equity $somethings"?
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