iHeartMedia Considers IPO, Direct Listing as Bankruptcy Exit Nears

[Y2kTheNewOldies]

https://www.bloomberg.com/news/arti...s-ipo-direct-listing-as-bankruptcy-exit-nears

Note these are Iheart's Proposals for post bankruptcy as of this posting.

U.S. radio broadcaster iHeartMedia Inc. is considering paths to return to the public markets as it nears an end to bankruptcy court oversight.

IHeart may pursue an initial public offering or direct listing on a U.S. exchange, the company said in a statement Friday. As part of its reorganization plan, the San Antonio-based company is required to “use reasonable best efforts” to list its Class A common stock after it emerges from bankruptcy.

 

[Y2kTheNewOldies]

https://news.****************/cgi-bin/rol.exe/headline_id=b15795

An Update

iHeartMedia has filed a preliminary prospectus for an initial public offering (IPO) following approval of its plan in January to emerge from bankruptcy, which separates the company from its corporate relationship with Clear Channel Outdoor Holdings. Many of the details were not disclosed in the filing, which lists a "placeholder" number of $100 million in order to SEC regulations. This number is likely to change as the pricing process moves forward.

"Radio continues to offer consumers something different in the form of curated, personality-led audio," iHeartMedia said in the IPO filing. "The medium is able to offer influencers a word-of-mouth style conversation, which propels audience engagement and connection in a very effective way."

 

[TheBigA]

Cumulus did the same thing as it emerged from bankruptcy a few months ago.