iHeartMedia Reaches Debt Restructuring Agreement

iHeartMedia, Inc. today announced that it has reached an agreement with its debtholders and financial sponsors of more than $10 billion of its outstanding debt. The agreement reflects widespread support across the capital structure for a comprehensive balance sheet restructuring that will reduce iHeartMedia’s debt by more than $10 billion. The company will continue operations as usual during the restructuring process.

To implement the balance sheet restructuring, iHeartMedia and certain of its subsidiaries, including iHeartCommunications, Inc., have filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the Southern District of Texas, Houston Division. Clear Channel Outdoor Holdings, Inc. and its subsidiaries did not commence Chapter 11 proceedings.

The Company has filed a series of motions with the Bankruptcy Court to maintain business-as-usual operations and uphold its commitments to its employees and other stakeholders during the process. These “first day” motions will help facilitate a smooth transition into Chapter 11, and the company believes that its cash on hand, together with cash generated from ongoing operations, will be sufficient to fund and support the business during the Chapter 11 proceedings.

“iHeartMedia has created a highly successful operating business, generating year-over-year revenue growth in each of the last 18 consecutive quarters. We have transformed a traditional broadcast radio company into a true 21st century multi-platform, data-driven, digitally-focused media and entertainment powerhouse with unparalleled reach, products and services now available on more than 200 platforms, and the iHeartRadio master brand that ties together our almost 850 radio stations, our digital platform, our live events, and our 129 million social followers,” said Bob Pittman, Chairman and Chief Executive Officer. “The agreement we announced today is a significant accomplishment, as it allows us to definitively address the more than $20 billion in debt that has burdened our capital structure. Achieving a capital structure that finally matches our impressive operating business will further enhance iHeartMedia’s position as America’s #1 audio company.”

• Author
• Recent Posts

Lorie Hollabaugh

Hollabaugh, a staff writer at MusicRow magazine, has over 20 years of music business experience and has written for publications including American Profile, CMA Close Up, Nashville Arts And Entertainment, The Boot and Country Weekly. She has a Broadcast Journalism and Speech Communication degree from Texas Christian University, (go Horned Frogs), and welcomes your feedback or story ideas at lhollabaugh@musicrow.com.

Latest posts by Lorie Hollabaugh (see all)

• Jason Isbell’s ShoalsFest Returns In October - May 6, 2026
• ALABAMA Announces Fan Appreciation Week Events - May 6, 2026
• Dylan Gossett & Charles Wesley Godwin Announce Co-Headlining Tour - May 6, 2026