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IHeart files for Chapter 11

xmtrland said:
There's no guarantee that I will get the money. And if I want my questions answered it will cost me money. Its a no win situation for small contractors only owed a few bucks. Taking the time to shop an attorney and all, you will lose more than what's owed if you get nothing. Or even if I get something, if its less than what I spent on legal fees I will have lost more. The only ones making money are the attorneys. I would guess I'm not the only individual in this situation.
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This certainly stinks. If they will need your services in the future, I suppose you might have negotiating leverage. Otherwise, I'm afraid your assessment is largely correct. Not fair and not right.
 
https://radioinsight.com/headlines/176356/fcc-approves-iheartmedia-restructuring/

An Update on Iheart

iHeartMedia has reached another goalpost as it prepares to exit Chapter 11 bankruptcy protection as the FCC has approved the restructuring plan.

The agency has placed a condition on the approval. The two stations that were placed in the Sun & Snow Trust must be divested within two years. The company will also need to provide the FCC detailed explanations in a confidential report on the attempt to sell 107.7 WHFX Darien/Brunswick GA and 100.3 KSNR Fisher MN/Grand Forks ND out of the trust every six months. Also any pending translator Construction Permits will not be extended upon expiration of their CPs.
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https://radioinsight.com/headlines/175863/iheartmedia-to-offer-ipo-upon-bankruptcy-exit/


Update Iheart to return as a publically traded company on July 18th.

iHeartMedia, Inc. (OTC PINK: IHTM) today announced that its Class A common stock has been approved for listing on the NASDAQ Global Select Market. Upon listing, iHeartMedia’s Class A common stock will trade under the ticker “IHRT.”

As previously announced, iHeart had been evaluating all paths to achieve a listing of its Class A common stock on a recognized U.S. stock exchange following emergence from its restructuring process. iHeartMedia has determined that a listing on the NASDAQ Global Select Market is the optimal strategy for iHeartMedia and all of the company’s stakeholders.

As a result, the Company has requested the withdrawal of its previously filed registration statement on Form S-1 with the U.S. Securities and Exchange Commission. iHeartMedia’s management team will be meeting with investors the week of July 15 in advance of a listing date of July 18, 2019.
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