iHeartMedia Files For Bankruptcy

Follow KDKA-TV: Facebook | Twitter
By: Sherisse Pham
(CNN Money) — Crippled by falling revenue and piles of debt, radio conglomerate iHeartMedia has filed for bankruptcy.
The beleaguered company announced Thursday that it has reached an agreement with creditors and investors to restructure more than $10 billion in debt, about half of what it currently owes investors.
“The agreement we announced today … allows us to definitively address the more than $20 billion