According to “people familiar with the situation” who spoke with a Bloomberg News reporter known for her prior work covering restructuring talks for Debtwire, iHeartMedia has started confidential conversations with a collection of debtholders led by Pacific Investment Management Co. (PIMCO).
This signals new efforts first discussed in late May by the nation’s No. 1 owner of radio stations and a leading podcast hub to further tackle its billions of dollars in debt.
