iHeartMedia files for Chapter 11 bankruptcy, cutting $20 billion debt load in half

iHeartMedia has filed for Chapter 11 bankruptcy. The radio station operator, the biggest in the United States, has reached a deal with its creditors that will reduce its debt burden by about half to roughly $10 billion. It made the filing in the late hours on Wednesday, March 14, after several extensions and last-minute negotiations. Continue Reading


Liberty Media attempts 11th-hour partial acquisition of iHeartMedia

Liberty Media, majority owner of Sirius XM and minority owner of Pandora, has offered a term sheet that would grant it ownership of a 40% stake in iHeartMedia for $1.159 billion. This move is an eleventh-hour deal in reaction to iHeartMedia’s difficult financial situation. It also isn’t the first time Liberty has broached a last-minute audio investment. Continue Reading


iHeartMedia launches audio/visual ad project with Fox Networks Group

iHeartMedia has entered a partnership with Fox Networks Group to create Smart A/V Audiences, a suite of data-driven advertising products across both audio and video segments. Smart A/V Audiences will allow the creation of customized audiences by targeting for specific interests, then delivering video and audio ads to those individuals. The project builds on iHeartMedia’s SmartAudio programmatic ad tool. Continue Reading