iHeartMedia, the country’s largest radio broadcaster with nearly 850 stations, filed paperwork with U.S. securities regulators this week to raise as much as $100 million in an initial public offering.
The move comes after iHeartMedia’s bankruptcy restructuring plan was approved in January. The offering will test investors’ appetite for traditional media in the age of Spotify and streaming music.
Analysts worry it may struggle to compete for market attention amid what is expected to be one of the busiest IPO calendars in years.
Source: Financial Times