The New York Post reports that Liberty Media is aiming to take control of iHeartMedia as soon as the financially-struggling radio giant (which recently acquired Stuff Media for $55 million) crawls out of bankruptcy early next year. Here’s the report. iHeartMedia had been struggling with a $20 billion debt burden over the years due to a leveraged buyout in 2008.
For reference, Liberty Media’s portfolio already includes a majority stake in SiriusXM — which, remember, recently agreed to acquire Pandora — plus a 33% stake in Live Nation Entertainment, the parent company of Ticketmaster. Web Barr, friend of the newsletter and biz-ops/strategy person at Bleacher Report, floated this observation over Twitter: should Liberty take control of iHeart, an audio stack composed of iHeartMedia + SiriusXM + Pandora + Ticketmaster is… a most interesting one.
Meanwhile, don’t forget: Apple is said to be potentially exploring an investment in iHeartMedia. Discussions were described to be preliminary, and Apple is said to be considering a minority stake.