IHRTQ - iHeartMedia Creditors Extend Forbearance Agreement
iHeartMedia (IHRT) investors may find themselves in for a long weekend as the company and its creditors agreed to extend a forbearance agreement until March 12 at 11:59 PM. The original agreement expired on March 7 at 11:59 PM. iHeart made the new agreement public on March 8 via an 8K filing with the SEC.
iHeart is saddled with substantial debt and missed a payment last month, which brought the concept of bankruptcy closer to reality than it has been over the past year. iHeart has had continued pressure mounting because of