iHeartMedia Bankruptcy Delayed To Today For Awards Show

iHeartMedia's likely bankruptcy was reportedly pushed to later today to avoid distracting from the company's signature iHeart Radio Awards show, which was televised live on Sunday night. The delay also gave negotiators more time to prepare for an organized restructuring of the company's $20 billion in debt. 

On Friday, the deadline to submit the plan for an orderly bankruptcy of iHeartMedia, its 855 radio stations, streaming service and other assets was extended through 11:59 PM CT on Monday, March 12th.

The preliminary plan filed with the SEC would reduce iHeartMedia's debt from $20.6 billion to under $5.8 billion, as part of a Chapter 11 bankruptcy reorganization.

More details here: iHeart Radio Music Awards 2018 - Full Winners List

Related articles

iHeartMedia Bankruptcy Talks Extended Through Monday - hypebot

iHeartMedia Bankruptcy Delayed 2 Days, $15B Debt Erased - hypebot

iHeartMedia, 855 Radio Stations Go Bankrupt In 12 Hours - hypebot

iHeartMedia To Declare Bankruptcy As Early As Today

Napster Makes 20 Million Indie Tracks, Playlists Available In Japan With Rakuten Partnership

Liberty, SiriusXM Offer iHeart $1.16B Cash Infusion - hypebot

iHeartMedia, Largest Owner Of Radio Stations In US, Admits It May Not Survive The Year

Bankruptcy Delayed As iHeart Gets More Time From Lenders, New Wednesday Deadline

Luke Bryan, Keith Urban, Maren Morris, Sugarland and More to Perform at 2018 iHeartCountry Festival - Country Music Tattle Tale - Your daily country music news source

from hypebot http://ift.tt/2p6UDBG