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Liberty Affiliate Seeks DOJ Permission for Larger iHM Stake


Liberty Media
Liberty Media

An affiliate of John Malone's Liberty Media Corp. wants permission from the Department of Justice to acquire a larger stake of iHeartMedia, reports the Wall Street Journal. Liberty currently owns 4.8% of iHeartMedia through its Liberty SiriusXM Group. WSJ says the deal now under consideration could give it control or outright ownership of the broadcaster. However, Liberty hasn't decided what kind of transaction, if any, it would proceed with should it receive permission.

WSJ says Liberty acquired its iHeartMedia stake through the debt it assumed before the company restructured, which converted to equity when the broadcaster emerged from bankruptcy earliery this year.

Liberty owns 33% of Live Nation Entertainment, making it the company's largest shareholder, and 71% of satellite radio SiriusXM Holdings Inc. Last year, Liberty's SiriusXM purchased of Pandora Media -- in which it also held a controlling stake -- for $3 billion.

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Quick Snaps
Benztown: Benztown was at Radiodays Europe 2024, which was held in Munich on March 17-19th. Benztown hosted a well-attended party for customers and partners during Radiodays Europe 2024 on Monday, March 18. Pictured is a traditional Volksmusik band performed for Benztown party attendees at Munich's Augustiner-Keller restaurant. In front in black shirt raising a glass is Oliver Klenk, Head of Production & Composition, and to his right, also in black shirt, is Stephan Halfpap, General Manager, Maxmedia, Austria.

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