Liberty Slow Rolling the iHeart Merger

Could it get any more disruptive than this?

The only company that can buy iHeartMedia is now slow rolling that acquisition.

Liberty Media is serious enough having purchase an estimated 30-35% of iHeart debt when the company was in bankruptcy.  That debt can be converted into equity.

Liberty wants to add iHeart’s terrestrial radio stations to their multimedia platform that includes SiriusXM, Live Nation and Pandora.

Meanwhile iHeart “dislocates” over 1,000 employees in one week and concocts “excellence centers” to initiate more layoffs.  Why, if a new owner is coming in?

This begs the question is iHeart doing all of this with Liberty’s approval or does Liberty have other plans for iHeart when it takes over?

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