iHeartMedia Made $101 Million From BMI Sale to New Mountain Capital ...Middle East

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iHeartMedia received $101.4 million from the sale of BMI, in which it held a minority stake, to New Mountain Capital, the company announced Monday (Feb. 12) through an SEC filing. The sale was finalized on Feb. 8. iHeartMedia had previously announced on Nov. 27 that it expected to receive approximately $100 million from the sale, which had yet to finalize and clear regulatory approvals. Its ownership stake was “a little under 10%” and goes back to the creation of BMI, said iHeartMedia president/COO Rich Bressler on Nov. 29 at the Wells Fargo 7th Annual TMT Conference. BMI was founded by a group of radio broadcaster

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Last updated : 14 February 2024 clock 12:16 AM

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iHeartMedia Made $101 Million From BMI Sale to New Mountain Capital ...Middle East

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