The last ties to the Clear Channel name will soon be unbound for iHeartMedia.
The No. 1 owner of radio stations and parent of iHeartRadio has reached an agreement on the material terms to fully separate Clear Channel Outdoor‘s business from iHeartMedia, which presently owns 89.1% of Clear Channel’s outstanding common stock.
The separation indicates that iHeart’s emergence from debtor-in-possession status is nearing its conclusion.
