In October 2018, iHeartMedia revealed the call letters and cities of license of two radio stations it would divest as part of its efforts to emerge from Chapter 11 bankruptcy protection.
One of these stations was acquired in a May 2014 asset swap with the Frank Osborn-led Qantum Communications as part of a deal that saw Qantum exit the radio broadcasting business.
Now, with iHeart getting a fresh start out of debtor-in-possession status and trading on Nasdaq with an all-new ticker symbol, it’s reacquiring this station as its first post-bankruptcy “purchase.”
How is this possible? It’s thanks to a simple change of the city of license for another iHeart FM.