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Judge Rules for iHeart in Bondholder Case

frankberry

frankberry

Administrator
Inactive User
Today Texas State District Judge Cathleen Stryker ruled in favor of iHeartMedia in its lawsuit with some of its bondholders.

Here is a statement from the company: "Today, the State District Court in Bexar County, Texas ruled in our favor when it determined that our contribution of Clear Channel Outdoor Holdings, Inc. stock to our subsidiary Broader Media, LLC was a permitted investment under our financing agreements. The strong performance of our operating business provides us with the flexibility to manage our capital structure in a prudent manner. In full compliance with our financing agreements, we will continue to evaluate opportunities to strengthen our balance sheet. We look forward to constructive discussions with our lenders as we continue to position iHeartMedia for long-term growth."

More details soon at www.radioink.com.
 
microbob said:
Sucks to be an investor cause they are never getting there money back.
Click to expand...

Technically, bondholders are not investors... they are debt holders.
 
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