A Bidding War Brews Over Bankrupt iHeartMedia
John Malone’s Liberty Media Corp., which final month formally deserted a plan purchase a stake in bankrupt iHeartMedia Inc., continues to specific curiosity within the nation’s largest radio broadcaster, based on folks aware of the matter.
Liberty, which owns a controlling curiosity in satellite-radio-broadcasting firm Sirius XM, is engaged on revamping its preliminary supply, one of many folks stated. The media firm had provided to pay about $1.2 billion for a 40% stake in iHeartMedia earlier than withdrawing its bid final month.
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