From, 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.