RUMOR MILL
Tuesday, February 27, 2018
SIRIUS/XM PARENT BIDS ON iHEART
The parent company of SiriusXM has offered to buy a 40% stake of iHeartMedia for $1.16 billion, various outlets have reported.
John Malone’s Liberty Media made the proposal via a term sheet issued to some lenders and noteholders of iHeart, which is in a soon-to-expire grace period to restructure $15b-$20b in debt and avoid bankruptcy. Franklin Advisers made the offer public.
The document, Reuters reported, reveals that Liberty would finance working capital needs once iHeart has filed for Chapter 11 bankruptcy. Come Friday, creditors could request that iHeart pay back loans in full.
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)rumor mail
