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Posted On: 03/18/2018 3:33:56 AM
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iHeartMedia, files for bankruptcy
The owner of the nation's biggest radio station operator, iHeartMedia, filed for bankruptcy protection from its creditors, the company announced early Thursday morning.
The San Antonio-based company, which owns 856 stations and controls Clear Channel Outdoor Holdings, one of the world's biggest billboard firms, said it reached an agreement in principle for a balance sheet restructuring.
The deal, which has been filed with a bankruptcy court in Houston, was made with holders of more than $10 billion of its outstanding debt and its financial sponsors.
https://www.foxbusiness.com/markets/iheartmed...bankruptcy
The owner of the nation's biggest radio station operator, iHeartMedia, filed for bankruptcy protection from its creditors, the company announced early Thursday morning.
The San Antonio-based company, which owns 856 stations and controls Clear Channel Outdoor Holdings, one of the world's biggest billboard firms, said it reached an agreement in principle for a balance sheet restructuring.
The deal, which has been filed with a bankruptcy court in Houston, was made with holders of more than $10 billion of its outstanding debt and its financial sponsors.
https://www.foxbusiness.com/markets/iheartmed...bankruptcy
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