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Global seeks approval to own almost half of iHeartMedia


Global Media & Entertainment Investments has sought permission to take almost 50% shareholding in iHeartMedia, Inc.
Global currently holds just under 9% shareholding of iHeartMedia after an investment vehicle funded by Global investor Michael Tabor (previously known as Honeycomb) made the transaction last month.
Global Media’s lawyer informed iHeart’s counsel of its plans on February 5th to take on more shareholding and said any further stock acquisition and request for routine advance approval wouldn’t be hostile in nature.
In a conference call on February 18, 2021 between Ashley Tabor-King OBE, representing Michael Tabor, and iHeart’s senior management Robert Pittman, Chief Executive Officer and President and Richard Bressler, President, Chief Operating Officer and Chief Financial Officer, the same message was communicated. ....

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