- 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.