Deals
IHeart Open to Takeover Talks Ever After Rebuffing Liberty’s $1.8 Billion Offer
- Malone company’s offer for 40% stake didn’t satisfy creditors
- Broadcaster still willing to hear from Liberty, other suitors
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IHeartMedia Inc., the biggest U.S. radio broadcaster, formally turned down a $1.16 billion bid from John Malone’s Liberty Media Corp., but other talks are continuing as the company navigates its way through bankruptcy.
Liberty officially withdrew its bid June 15 after being informed that its offer for a 40 percent stake wasn’t enough to satisfy the company or its senior creditors, iHeart said in court filings Thursday.