Tag: iHeart Media

iHeart Exits Bankruptcy, Clear Channel is Independent

iHeartMedia has completed their restructuring process, including a balance-sheet reshaping that cuts company debt to $5.75B from $16.1B. In connection with its emergence from restructuring, the company fully separates from Clear Channel Outdoor Holdings (CCO), which will continue to trade on the NYSE. Clear Channel Outdoor Holdings is the holding […]

Clear Channel and iHeart Media Separation

As iHeart’s emergence from bankruptcy nears, along with Clear Channel Outdoor’s separation from their parent, Insider saw some details we thought we would pass along from a recent Form S-1 filed with the SEC.  Here are a few highlights: iHeart Equity Raise –  iHeartMedia has filed to raise $100 million […]

Clear Channel Outdoor Revenues up 5% in 4Q 2018

Clear Channel Outdoor announced 4th quarter 2018 results.  Here are the results of the earnings release, earnings deck and the seeking alpha earnings call transcript. Consolidated revenue excluding exchange rates increased 5% to $765 million for the fourth quarter of 2018.   Americas Outdoor (Clear Channel US and Clear Channel Canada) […]

Clear Channel Announces Private Offering of Subordinated Debt

It has been a busy week for Clear Channel Outdoor.  Insider ran a story yesterday on the announcement of their new board appointees, who will step in after iHeart Media clears bankruptcy and the two companies separate. The Company also announced a proposed private offering of Senior Subordinated Debt.  The press […]

iHeartMedia Announces Confirmation of Plan of Reorganization

IHeartMedia announced yesterday that its reorganization plan has gotten confirmation from the U.S. Bankruptcy Court for the Southern District of Texas. With the confirmation of the Plan, iHeart expects the Chapter 11 process to be completely finished within the first half of 2019, subject to completion of certain steps related to the […]

iHeartMedia Announces Overwhelming Creditor Support for Plan of Reorganization

SAN ANTONIO–(BUSINESS WIRE)–iHeartMedia, Inc. (PINK: IHRTQ) (“iHeartMedia”) today announced voting results for the Company’s Fifth Amended Joint Chapter 11 Plan of Reorganization (the “Plan”). Voting results indicate that every class of creditors entitled to vote has voted to approve the Plan. More than 90% of the votes cast by creditors […]

iHeart Media Might See Multiple Bidders

Insider thought it might be time for a quick update on the iHeart Media bankruptcy proceedings so here is our latest take. Liberty Media, the majority owner of Sirius XM Holdings (NASDAQ SIRI), had a high level of interest looking to purchase a 40% interest in iHeartMedia for $1.16 Billion.  Liberty […]

iHeartMedia Bankruptcy Plan Filed

iHeartMedia filed with the U.S. Bankruptcy Court a Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The proposed Plan achieves a value-maximizing restructuring that comprehensively addresses the Debtors’ funded debt obligations and positions their businesses for continued growth and long-term success. As a result […]

IHeartMedia Receives Short Delay

Today’s update on iHeartMedia is via a Form 8-K filed March 5th noting that iHeart had entered into a  Forbearance  Agreement related to the interest payment that was due on February 1st in the amount of $106 million. As a part of that loan agreement iHeart had a 30 day […]

iHeart Update Heading to the Weekend

Since details are moving very quickly on Clear Channel Outdoor’s parent company iHeartMedia, Inc., Insider wanted to provide a couple of updates of interest before the weekend. In two separate 8-K Filings, iHeart Media shared:  The Board of Directors has elected not to make interest payments due on March 1, 2018 […]