Case Background

On March 14, 2018, iHeartMedia, Inc. announced that it reached an agreement in principle with the majority of its creditors and its financial sponsors that reflects widespread support for a comprehensive balance sheet restructuring that will reduce iHeartMedia’s debt by more than $10 billion and give iHeartMedia a capital structure that matches its strong operating business.

To implement this agreed upon restructuring, iHeartMedia and certain of its subsidiaries (collectively, the “Company”) filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division.  The cases are pending before the Honorable Marvin Isgur, and the cases are jointly administered under Case No. 18-31274.  Clear Channel Outdoor Holdings, Inc. and its subsidiaries did not commence Chapter 11 proceedings.

iHeartMedia is America’s #1 audio company, with unparalleled reach and a strong operating business, generating year-over-year revenue growth in each of the last 18 consecutive quarters.  The Company will be operating business as usual as a leading global media, entertainment and data company, serving audiences, advertisers, and other business partners across its industry-leading platforms.  iHeartMedia expects to have sufficient liquidity to support ongoing operations during the court-supervised process.

For additional information:

• Click here to view the Company’s Filing Press Release.

• Click here for Restructuring Frequently Asked Questions.

Media inquiries should be emailed to WendyGoldberg@iheartmedia.com.

Important Information & Dates

Deadline to File Claims

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors:

• General Claims Bar Date: June 29, 2018 at 5:00 p.m. (Central Time)
• Governmental Claims Bar Date: September 11, 2018 at 5:00 p.m. (Central Time)

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors.

Plan and Disclosure Statement

On April 28, 2018, the Debtors filed their Plan of Reorganization and the Disclosure Statement related thereto.  On June 21, 2018, the Debtors filed their Amended Disclosure Statement.  The Bankruptcy Court will hold a hearing to consider approval of the Disclosure Statement on August 2, 2018 at 9:30 a.m. (CT).

Please click on the link below to access the Plan and Disclosure Statement documents:

Plan & Disclosure Statement

Hearing on First Day Motions

On April 28, 2018, the Debtors filed their Plan of Reorganization and the Disclosure Statement related thereto.  The Bankruptcy Court will hold a hearing to consider approval of the Disclosure Statement on a date to be determined.

A hearing on the Debtors' First Day Motions was held on March 15, 2018 at 2:00 PM (CT) before the Honorable Marvin Isgur, United States Bankruptcy Court for the Southern District of Texas (Houston Division).  A final hearing on certain of the First Day Motions  was held on April 12, 2018 at 2:00 PM (CT).  Please click below to view and download the Debtors' First Day Motions and First Day Orders:

First Day Motions

First Day Orders