iHeartMedia Files for Bankruptcy
Radio, and media company, iHeartMedia has filed for bankruptcy. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀
The company’s CEO confirmed that so far they were able to settle about $10 Billion of its $20 Billion debt to investors. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀
iHeart has struggled financially since the 2008 buyout of billboard company Clear Channel Outdoor.
It is uncertain how this bankruptcy filing will affect the company and its employees. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀