Bankruptcy static grows at cash-strapped iHeartMedia

Restructuring iHeartMedia’s $21 billion in debt isn’t getting any easier for Chief Executive Bob Pittman.

A senior lender to the country’s largest radio station owner told The Post on Wednesday he would prefer the San Antonio company goes bankrupt than take Pittman’s latest restructuring offer.

The creditor, who is not typically seen as an activist, said his debt, now trading at 73 cents on the dollar, could fetch 90 cents in a bankruptcy.

Read the story

• Tweet
• Pin It