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SIRI - iHeartMedia IPO: It Could Emerge From Chapter 11 In Q4 2019
Sirius XM Holdings Inc.
As iHeartMedia (IHRTQ) expects to emerge from Chapter 11 in the second quarter of 2019, the company is organizing an IPO. Reporting positive cash flow from operations of $966 million in 2018 and after reclassifying its long-term debt, the recent financial situation is a bit better than that in 2016 and 2017. Having said this, the financial risk is still very significant. Using a ratio of 6x to 7x EBITDA, the total enterprise value could be equal to $9 billion to $11 billion. Taking into account this figure, the market capitalization should not