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Things are-a-changin' big time!

Posted May 14th, 2017 at 7:05 PM by Otter Mii-kun

This spring has brought forth lots of changes in the broadcast media world, the business world, and others.

First off, in the religious broadcasting world, during the last full week of April, as I brought up in a thread over in Discussions and Debates, the IRS and US Postal Inspection Service raided Benny Hinn’s ministry headquarters in Texas. As was discussed on the April 27th edition of TruNews with Rick Wiles, this raid was planned quite some time ago, and a former employee of Benny Hinn’s told Rick that leading up to the raid, Benny Hinn Ministries was in such deep financial trouble, that they were down to three employees. With the fact that BHM was hit with a federal raid at a time when they were down to three employees (virtually a skeleton crew) for the entire ministry, it’s virtually safe to say that they won’t be coming back.

Another change in Christian broadcasting has to do with Jack Van Impe Ministries and their weekly television program, Jack Van Impe Presents. On the most recent episode of that program, Rexella Van Impe (Jack’s wife) mentioned that Jack was told by his doctor that he can no longer do the weekly television show due to deteriorating health. According to sources, the broadcast television program of JVIM will conclude at the end of May, but both Jack and Rexella will instead promote the gospel via YouTube and social media.

As for Jack Van Impe’s health, here’s what’s been happening: A couple of years ago, he had a massive heart attack, leaving him in a coma for a lengthy period. He eventually came out of that coma, and fought back to health over a period lasting several months, while in the meantime, his wife Rexella continued the Jack Van Impe Presents program with a rotation of guest hosts, including Carl Baugh, and various other Christian ministers. Once Jack recovered and was well enough, he got back on his program for a period of time. However, around New Year’s 2017, he fell and broke his hip. As a result, he has been bedridden for several months, and once again, guest hosts including Baugh have been anchoring the program along with Rexella while Jack has been recuperating from a broken hip (which resulted in his being told that he can no longer do his weekly program). It should be noted that both Jack and Rexella are well in their 80s.

On to secular media, I’m not going to discuss the “war” that the Deep State globalists and their mainstream media lapdogs have waged on what they claim as “fake news”, but I do want to mention that on April 20th, radio station group iHeartMedia, formerly known as Clear Channel, warned that they may not survive into the next year. iHeart has been struggling to pay down a massive debt load as a result of a leveraged buyout in 2007-08 led in part by Bain Capital, and rumors have been swirling for quite awhile now that the company could file bankruptcy or otherwise enter into a massive restructuring.

Another recent broadcast ownership development is Sinclair’s pending purchase of Tribune Media, announced May 8th. The transaction will be valued at nearly $4 billion. This proposal comes as a result of the FCC recently reinstating the so-called “UHF discount”, which historically meant that broadcast station groups had their UHF stations count only half of their market audience reach towards the federally-imposed 39% limit for the entire nation per company. The UHF discount had previously been suspended by the FCC under the leadership of then-chairman Tom Wheeler, shortly before the 2016 Presidential Election (under the assumption that Hillary Clinton would be very easily elected President). Inevitably, this reinstatement will lead to a massive acceleration of station group mergers, a trend that actually began near the end of Obama’s first term. However, due to market overlap and the 39% limit even with the UHF discount kicking in, the combined Sinclair Broadcast Group will have to divest some stations to stay below the current cap. It is expected that most of the stations that are to be divested will be spun off to Sinclair-linked shell company Cunningham Broadcasting.

In the retail world, which is undergoing a massive apocalypse, Sears Holdings, which owns the Sears and Kmart retail chains, continues to suffer financially and close stores left and right with obviously no end in sight. Some analysts are predicting that Sears will file bankruptcy in the second half of this year, perhaps as early as July 10th or shortly after. The specific time frame is based on a Seeking Alpha report about certain issues within Sears Holdings: Among them; $500 million in secured loans due by July 7th, and an asset sale to Seritage Growth Properties, where the statute of limitations regarding suspected “fraudulent conveyance” expires also on July 7th. Even with these issues and others in mind, the longer Sears continues its death spiral and continues to bleed cash at an incredible clip, the more likely it will be forced into Chapter 7 liquidation (as opposed to Chapter 11 reorganization) and cease operations entirely.

As a matter of disclosure: I have no financial positions in any of the companies discussed in this blog entry, and to tell you the truth, I hate the financial industry and the fact that it has gotten away with scamming ordinary people for many, many years.

So, to conclude, there have already been some major changes just in the past couple of months, and it looks like things will continue to accelerate for the foreseeable future.
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