iHeartMedia Files for Bankruptcy to Restructure Massive Debt

It'll reduce the company's debt by $10 billion

Exactly a year ago today, iHeartMedia executives were at an event in New York, where they pitched media buyers on the audio conglomerate’s latest products and services for radio stations and podcasts in hopes of winning over more advertising dollar. But now, it’s filing for bankruptcy.

The parent company of the nation’s largest radio network has filed for Chapter 11 bankruptcy protection, a move that officials say will help relieve longstanding financial obligations. The deal with creditors, filed with

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