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IHeartMedia to consider direct listing, IPO

Radio company iHeartMedia Inc. is exploring ways to list its class A common stock on a U.S. stock exchange after emerging from its restructuring process.

The options that the company could consider include a direct listing or an initial public offering, according to a March 22 news release.

The company's Chapter 11 reorganization plan was approved by a majority of creditors in December 2018. The U.S. Bankruptcy Court for the Southern District of Texas approved the plan in January. Chairman and CEO Bob Pittman and President, CFO and COO Rich Bressler will remain in their respective roles and have extended their contracts by four years following the completion of the process.

The company expects to complete the restructuring process in the second quarter.