iHeartMedia, the holding company of IHeartRadio, which is the biggest operator of radio stations in U.S., plans to tell investors on next month's quarterly earnings report that it may not survive financially another year, MarketWatch reports. Shares have dropped over 30% since iHeart made the announcement to investors April 20.

In its latest regulatory filing, the company says it's next quarterly update will include a disclosure indicating there is "substantial doubt" in the company's ability to operate by Q1 2018. The company says their uncertainty revolves around its ability to refinance its debt. Most of the company's cash on hand comes from its billboard company, Clear Channel Outdoor Holdings Inc., but even with the billboard business rising, the company has been unable to offload Clear Channel to lenders in exchange for relief.

Why it matters: iHeartRadio, which owns over 850 radio stations throughout the country, has very quickly seen its business dwindle due to the rise of audio streaming, mainly via Pandora and Spotify. The company launched a subscription service less than a year ago with Napster, that has been unable to compete in the market.

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Rural America has its own coronavirus problem

It's often easier to socially distance in rural America, but it can simultaneously be more challenging to get medical care.

Axios Re:Cap digs into the pandemic's urban-rural divide with microbiologist Amber Schmidtke, who has found that coronavirus-related morbidity is higher in many of Georgia's rural counties than in Atlanta.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:30 p.m. ET: 12,373,722 — Total deaths: 556,863 — Total recoveries — 6,794,982Map.
  2. U.S.: Total confirmed cases as of 3:30 p.m. ET: 3,156,234 — Total deaths: 133,746 — Total recoveries: 969,111 — Total tested: 38,032,966Map.
  3. Public health: The U.S.'s new default strategy: herd immunity — 23 states and D.C. are mandating face coverings.
  4. ✈️ Travel: Delta CEO says Trump administration should issue mask mandate for air travelAirlines say air quality, cleanliness lower risk.

Biden and Trump point fingers over "buy American" proposals

Joe Biden at a campaign event in Wilmington, DE. Photo: Alex Wong/Getty Images

President Trump and Joe Biden are going back and forth over the former vice president's "buy American" economic proposal, which Trump claims Biden "plagiarized" from him.

Why it matters: Biden is directly challenging Trump and his "America First" agenda with the release of his latest plan, focused on economic recovery and re-investing in American manufacturing in the wake of the coronavirus pandemic.