iHeartMedia Just Days Away from Bankruptcy as Rescue Negotiations Stall
iHeartMedia is desperately trying to save a sinking ship. But can it renegotiate more than $20 billion in debt — in the next few days?
iHeartMedia is plunging towards bankruptcy, and the situation keeps getting messier. A desperate proposal to overhaul $20.6 billion in debt was rejected last year, and the company recently missed a pair of massive debt payments. Now, in a recent SEC filing, iHeartmedia has pushed back against an expected company reorganization.