A Texas bankruptcy judge issued an order Thursday approving the disclosures and solicitation materials for iHeartMedia’s Chapter 11 plan. With this latest approval iHeartMedia is now closer to restructuring $16 billion in debt and emerging from bankruptcy a stronger company.
The court approval, handed down Thursday, followed iHeart filing a Fourth Amended Joint Chapter 11 Plan of Reorganization. iHeart filed for bankruptcy protection back in March with a goal of reducing its $20 billion in debt by $10 billion before the end of this year.
The court document also included a list of important dates in the process, which you can read here…