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IHeartMedia starts mediation to resolve Texas litigation

IHeartMediaInc. on May 2 started mediation with certain holders of the company'ssenior secured debt in order to resolve the Texas .

The move comes after the 285th Judicial District, BexarCounty, Texas, on April 6 ordered to extend the temporary restraining orderuntil the conclusion of a trial on the merits, which is scheduled to begin May16. The company is also looking for possible alternatives to theterms of iHeartMedia's existing senior secured debt.

The court held a hearing on the company's application for atemporary injunction on April 4 and April 5, according to a Form 8-K filed May2.