Is there room for radio in the age of Spotify? That is the question underlying a securities filing on Wednesday by the broadcast giant iHeartRadio for what it says could be an initial public offering. The largest radio broadcaster in the United States, with 848 terrestrial stations, iHeartMedia remains a force in the music industry, and also syndicates talk-radio giants like Rush Limbaugh and Sean Hannity. In January, the company’s restructuring plan received court approval, cutting the $16 billion of debt attached to its media division — the company’s radio stations, podcasts and iHeartRadio app — to about $5.8 billion. Under the plan, the company would separate iHeartMedia from its billboard advertising business, Clear Channel Outdoor, which would retain about $4 billion in debt.

Source: New York Times April 03, 2019 12:46 UTC