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Thread: Cumulus Media files for bankruptcy

  1. #21
    Rewind is offline
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    From RadioInsight.com, October 10:

    iHeartMedia files post-bankruptcy restructuring plan with FCC

    iHeartMedia is preparing for life after bankruptcy as it has submitted its restructuring plan to the FCC for approval. While Liberty Media's offer to purchase 40% of the company is no longer on the table, the company will be the largest individual shareholder of the post-bankruptcy iHeartMedia under the current restructuring agreement between the company and its debt holders. Liberty Media subsidiary Mould Fountain Funding will hold a 6 to 10% voting stake in iHeartMedia. All other shareholders will hold less than 5% each. Liberty Media purchased $400 million of iHeartMedia debt earlier this year from Blackstone Group’s GSO Capital Partners to attain that position.

    https://radioinsight.com/alert/17105...t-shareholder/

  2. #22
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    iHeartMedia Chairman/CEO Bob Pittman and President/COO Rich Bressler will remain in their positions. Sure, why not? After all, all they did was to run the nation's largest broadcasting company into bankruptcy. No big deal.

    iHeartMedia sets post-bankruptcy board of directors

    https://radioinsight.com/headlines/1...-of-directors/

  3. #23
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    I doubt you will find "angling to snag" in any dictionary of idioms. Anyway, John Malone's Liberty Media, which owns 71% of SiriusXM and 33% of Ticketmaster, is hoping to get control of iHeartMedia.

    Cumulus Media angling to snag post-bankruptcy iHeartMedia

    https://nypost.com/2018/12/03/libert...y-iheartmedia/

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