iHeartMedia Makes $101 Million from BMI Deal
iHeartMedia files an 8-K Form with the Securities and Exchange Commission announcing that the
previously announced acquisition of Broadcast Music, Inc. (“BMI”) to a shareholder group led by New Mountain Capital, LLC has closed, and the company has received $101.4 million of proceeds related to its equity interest in BMI. iHeartMedia says it plans to use the proceeds for general corporate purposes, which may include the repayment of debt.