IHeart Filing for Bankruptcy
IHeartMedia, Inc. is likely to file for bankruptcy within the next couple of weeks since it has been unable to make their debt payments.
Liberty Media which has made offers to finance the debt, is looking to combine SiriusXM radio with IHeart.
IHeart has about 850 stations and SiriusXM is the largest satellite radio network. IHeart also owns the billboard advertising company Clear Channel.
Three Catholic institutions in Minnesota have filed for bankruptcy due to sexual abuse claims and now the Catholic Diocese of St. Cloud is the fourth.
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