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iHeartMedia (IHRT) intends to raise $100 million in an IPO of its Class A common stock, according to an S-1 registration statement, although the final figure may be much higher.
The firm operates an online radio station and audio streaming service worldwide.
IHRT is emerging from bankruptcy, separating from its Clear Channel subsidiary, and will have significant debt to pay down with the IPO proceeds.
I’ll provide an update when we learn more details about IPO assumptions.
Company
San Antonio, Texas-based iHeartMedia was founded in 2001 to provide offline and