iHeartMedia hires Moelis to tackle debt burden
Posted by Robert Bartosh
March 8, 2016 - 12:28pm UTC
March 8, 2016 - 12:28pm UTC
Usher performs during the 2014 iHeartRadio Music Festival in Las Vegas.
REUTERS/STEVE MARCUS
iHeartMedia Inc has hired Moelis & Co as a financial adviser, the most significant step yet by the largest owner of U.S. radio stations to deal with its $21 billion debt pile, according to people familiar with the matter.
The move comes as iHeartMedia, one of the world's largest leveraged buyouts when it was taken private by buyout firms for $26.7 billion in 2008, struggles to compete for listeners amid digital... Read More
