May 9, 2018 / 10:44 PM / 4 months ago

Bankrupt radio station giant iHeart proposes $72 mln in bonuses

Radio station operator iHeart Media Inc is seeking court approval to pay roughly $72 million in bonuses to more than 700 employees, including 11 top executives, to help keep them focused on its restructuring in Chapter 11 bankruptcy.

Providing ongoing financial incentives for senior executives and non-insider employees has become “more essential than ever” as demands placed on them by the bankruptcy have been and will continue to be significant, iHeart said in court papers on Tuesday.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2rxfDTs

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