iHeartMedia Admits It Has No Deal With $20B In Creditors, Bankruptcy Deadline Looms | hypebot
iHeartMedia admitted in a Monday morning SEC filing that is has been unable to come to terms with its $20 billion in creditors despite weeks of negotiations.
Unless an agreement is reached or the creditors grant another extension by 11:59 CST today, Monday 3/12, the countries biggest radio group would be forced to declare the bankruptcy of its 855 radio stations, iHeart streaming service and other properties, as early as Tuesday.
No agreement has been reached, " states a new iHeartMedia SEC filing. "...There can be no assurances that a consensual transaction or any agreement will be reached."
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