September 24, 2018 / 10:09 PM / in 7 months

Podcaster acquisition for $55 mln a must-have, bankrupt iHeart says

Bankrupt radio station operator iHeartMedia Inc on Monday argued for a court order approving its $55 million acquisition of podcast publisher Stuff Media LLC, saying the transaction is essential to its future.

“Podcasting is now emerging as an important audio platform, closely tied to radio, one that the debtors believe is vital to the long-term success of the debtors’ initiatives,” iHeart said in a filing in its Chapter 11 bankruptcy.

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