 |
Finsbury is handling the biggest bankruptcy in radio as iHeartMedia, owner of America’s No. 1 network, files for Chapter 11 to restructure $10B in debt.
iHeartMedia CEO Bob Pittman said the capital structure of the company, which has reported year-to-year revenue growth for the past 18 consecutive quarters, has been burdened by a heavy debt load.
iHeartMedia posted a $95.4 net loss on $1.9B revenues during the nine-month period ended Sept. 30.
That debt obscures iHeart’s transformation from “a traditional radio company into a true 21st-century multi-platform, data-driven, digitally-focused media and entertainment powerhouse,” according to Pitman.
The company operates 850 iHeart radio stations and more than 200 digital platforms that have attracted 130M social followers.
Pitman promised that “a capital structure that finally matches our impressive operating business will further enhance iHeartMedia’s position as America’s No. 1 audio company.”
Bain Capital and Thomas H. Partners own 68 percent of iHeartMedia’s stock.
Finsbury’s Kal Goldberg and Sherri Toub represent iHeartMedia. Wendy Goldberg is iHeartMedia’s executive VP-communications.
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
Trump Media & Technology Group posted a $238M Q2 loss on $1.7M in revenues. That performance compares to a $20M loss and $883K revenues in the 2025 comparable quarter.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
