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Buyer interest grows for iHeartMedia - NYPost

Jul. 06, 2018 7:35 AM ETiHeartMedia, Inc. (IHRTQ) StockCCO, LMCB, IHRTBy: Stephen Alpher, SA News Editor1 Comment
  • According to the report, P-E player Sliver Lake Partners is in talks with creditors about taking over iHeartMedia (OTCPK:IHRTQ) once it emerges from bankruptcy.
  • The company is on track to come out of bankruptcy in early October, with debt load cut to $10B from $20B.
  • John Malone's Liberty Media (OTC:LMCB) recently pulled its offer to buy a stake in iHeart at a valuation of about $13B, but a source tells the NYPost creditors believe the company to be worth $12B-$15B.
  • iHeart plans to spin off or sell its 90% stake in Clear Channel Outdoor (NYSE:CCO) upon exit from bankruptcy.

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