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IHRTQ - Silver Lake Offer For iHeart May Actually Help Liberty Media And Sirius XM
iHeartMedia Inc
iHeart Media (OTCPK:IHRTQ) is attempting to work its way through bankruptcy, and the fact that 850 top tier radio stations as well as an outdoor advertising business might be on the proverbial auction block has tempted Liberty Media (LSXMA) (LSXMK), Sirius XM (SIRI), and Silver Lake (private equity) throw their proverbial hats into the ring.
The Liberty Media offer was initially for Liberty media and Sirius XM to each take a 20% stake in the company for $1.16 billion. In addition, Liberty offered a cash infusion. In