Liberty Media, who has a broad range of media and entertainment interests that include SiriusXM and the Atlanta Braves, have entered the iHeart Media sweepstakes as a potential investor. Liberty has offered a term sheet to certain key lenders and note holders of iHeart to buy a 40 percent stake […]
Various news sites reported yesterday that iHeartCommunications failed to make a $106 million interest payment to holders of its 14% senior unsecured notes with a 2021 maturity date. The interest payment was due on February 1st. Insider would more likely describe that iHeart “chose” to miss the payment rather than […]
iHeart Media announced on Monday it is exploring a sale of a large part of its stake in Clear Channel Outdoor in order to raise capital and buy more time before a looming bankruptcy. There were a number of news outlets reporting but Insider pulled most of their information from the […]
A late report yesterday shed some detail on what the major lender’s are requesting from iHeart Media in their debt restructuring negotiations. Insider has expected the debt holders would be aggressive and would pursue a significant equity position in both iHeart and Clear Channel Outdoor. Here is what the lender […]
Insider’s last update on iHeart Media debt problems detailed iHeart’s proposal to give junior bondholders and private-equity owners, Bain Capital and Thomas H. Lee Partners, more than 50% of iHeartMedia equity and 30% of what it owns of Clear Channel, with the rest going to senior bondholders and term loan […]
There were several news items at the end of last week indicating that (maybe) there might be some movement on an iHeart Media debt restructure. Total company debt, as of June 30, stood at almost $20.4 billion, mostly from the 2008 leverage-buyout from two Boston-based private-equity firms. Bain Capital and Thomas […]
A couple of updates on Clear Channel Outdoor’s parent company iHeart Media as they move towards a restructuring of their $20 billion in debt. Radio+Television Business Report had an article noting that iHeart Media was victorious in a San Antonio appeals court ruling. The issue was whether a 2015 equity […]
New York, New York – Clear Channel Outdoor (CCO) (NYSE: CCO), a subsidiary of iHeartMedia Inc., today announced that Paul Corvino has joined the company as Regional President for the Midwest. Corvino will provide leadership in all areas of branch operations including sales, marketing, real estate, public affairs, operations […]
Radio Ink reports on Tuesday that a counteroffer to iHeartCommunications Debt restructure proposal was made by Arnold & Porter Kaye Scholer (APKS), an advisor to Symphony Asset Management, which holds about $280 million in iHeart term loans. The counterproposal made to iHeartMedia is for $500 million in newly issued debt […]
June 08, 2017 06:45 AM Eastern Daylight Time SAN ANTONIO–(BUSINESS WIRE)–iHeartCommunications, Inc. (“iHeartCommunications”) today announced that it is extending the private offers (the “Exchange Offers”) to holders of certain series of iHeartCommunications’ outstanding debt securities (the “Existing Notes”) to exchange the Existing Notes for new securities (the “New Securities”) of […]
