iHeartMedia completes restructuring process, cuts debt to $5.8bn – Music Business Worldwide
US broadcast giant iHeartMedia has successfully completed its restructuring process, significantly reducing its debt from $16.1billion to $5.75bn. Alongside the completion of the restructuring, and in accordance with its Plan of Reorganization, iHeartMedia and Clear Channel Outdoor Holdings have now fully separated, creating two independent publicly-traded companies. Clear Channel Outdoor Holdings shares will continue to…