IHEARTMEDIA, INC. (OTCMKTS:IHRT) Files An 8-K Regulation FD DisclosureItem 7.01.Regulation FD Disclosure.
As previously disclosed, iHeartCommunications, Inc. (“iHeartCommunications”), an indirect subsidiary of iHeartMedia, Inc., has engaged in discussions with its stakeholders with respect to the restructuring of its capital structure. Since iHeartCommunications’ proposal on February8, 2018, iHeartCommunications has been in regular contact with each of its creditor and equity constituents to develop a proposal that has the most support possible.The proposal attached to this Current Report on Form 8-K reflects iHeartCommunications’ attempt to harmonize the views that it has received directly from the various groups of noteholders, lenders and iHeartCommunications’ equity holders and is hereby disclosed to all its creditor and equity constituents.
No agreement has been reached with respect to the above discussions and discussions remain ongoing. IHeartCommunications will continue to work with all of its constituents to develop a consensual transaction to allocate consideration among its various stakeholders. There can be no assurances that a consensual transaction or any agreement will be reached. The information set forth in this Item 7.01 of this Current Report on Form 8-K is not an offer to sell or exchange, or solicitation of an offer to buy, any securities, or a solicitation of consents with respect to any securities.
The information set forth in this Current Report on Form 8-K is being furnished to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the company’s filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such filings. The filing of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information herein that is required to be disclosed solely by reason of Regulation FD.
Item 7.01. | Financial Statements and Exhibits. |
(d) Exhibits
About IHEARTMEDIA, INC. (OTCMKTS:IHRT)
iHeartMedia, Inc. is a global media and entertainment company that specializes in broadcast and digital radio, out-of-home, mobile, and on-demand entertainment and information services for national audiences and local communities. The Company operates in three segments: iHeartMedia (iHM), Americas outdoor advertising (Americas outdoor) and International outdoor advertising (International outdoor). Its iHM segment provides media and entertainment services through broadcast and digital delivery and also includes its national syndication business. Its Americas outdoor and International outdoor segments provide outdoor advertising services in their respective geographic regions using various digital and traditional display types. Its other category includes its full-service media representation business, Katz Media Group, as well as other general support services. It has a Smartbike bicycle rental program that provides bicycles for rent to the general public in several municipalities.