An effort by iHeartMedia to cap the FCC’s advance approval of any investment in the audio content and distribution giant by Michael Tabor-controlled Global Media & Entertainment at just under 15% has proven successful.
As such, GMEI, which bankrolls some of Great Britain’s biggest radio brands, will not get pre-approval from the Media Bureau to hold up to 49.99% nonvoting interest in iHeart.
But, GMEI withdrew that request in some six weeks ago.
