IHeartMedia files for $100M IPO

|About: iHeartMedia, Inc. (IHRTQ)|By:, SA News Editor

Radio company iHeartMedia (OTCPK:IHRTQ) files for an IPO for its Class A shares as it nears exiting bankruptcy.

The filing doesn't include the number of shares or price but does indicate there will be two classes of shares. The placeholder amount is $100M.

The company was taken private ten years ago and later took on debt to finance the leveraged buyout of what was then Clear Channel Communications.

In January, iHeart announced a reorganization that included separating from Clear Channel.

Post edited for clarity in the third bullet.

Subscribe for full text news in your inbox