Artist and consumer rights organizations petition Justice Department to block Liberty Media/iHeart deal

Liberty Media is a powerful force in music, with holdings in Sirius XM, Pandora, and Live Nation/Ticketmaster. After the Sirius XM and Pandora deal closed, the rumors turned next to Liberty having an interest in iHeartMedia. A group of consumer rights advocates and an artists’ rights organization have teamed up to send a letter to the Justice Department to oppose that possible acquisition. Continue Reading

Rumor Fact(ory): Liberty Media may be interested in acquiring iHeartMedia

iHeartMedia is in the process of restructuring after a strategic move of declaring bankruptcy in March. Despite several years of financial difficulties, the company still has such a large footprint in broadcasting and audio that it has been the subject of takeover rumors. First, Apple was allegedly engaging in talks with the media conglomerate. Now, Liberty Media is reportedly interested as well. Continue Reading

Universal Music sees another quarter of streaming growth, with Liberty Media considering acquisition

Universal Music Group has reported its earnings for the third quarter as rumors swirl that the major label could be moving toward a sale. Revenue rose 13.5% on-year to €1.495 billion ($1.732 billion) for the period. Parent company Vivendi said in the earnings update that it is in talks with about 15 banks, looking for assistance in finding a strategic partner for the major label. Continue Reading

Liberty Media isn’t giving up on a possible iHeartMedia acquisition

The rumor mill turns once more. After a back-and-forth earlier this year that eventually came to naught, Liberty Media CEO Greg Maffei said in the company’s Q1 earnings call that the company is still potentially interested in acquiring iHeartMedia. “iHeart is an attractive free-cash flow generator,” he said. “At the right price, I think it would be additive to our music holdings.” Continue Reading


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