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IHeartMedia, U.S.’ largest radio broadcaster, information for chapter

Ed Sheeran, Eminem, Maroon 5 and Cardi B all carried out Sunday night time as a part of the iHeartRadio Music Awards, a testomony to the corporate’s dominance over the radio enterprise. Its roughly 850 stations, essentially the most of any U.S. broadcaster, nonetheless wield appreciable hitmaking energy, even within the age of streaming.

However on Thursday, father or mother firm iHeartMedia filed for chapter safety in an try to restructure a part of the $20 billion debt load that has burdened it since a leveraged buyout a decade in the past, on the eve of the 2008 recession.

The corporate introduced that it had reached agreements with collectors to scale back its debt by greater than $10 billion.

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