Liberty Media has submitted a proposal to acquire a 40% stake in a restructured iHeartMedia that would give the investment firm four seats on the company’s board of directors. Under the proposal, submitted on Saturday, Liberty would invest $1.159 billion in cash in iHeart. Liberty and Sirius XM Radio, which Liberty owns a majority stake of, would equally split 40% of newly issued shares in the recapitalized company.
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Liberty Media Offers To Acquire 40% Stake In IHeartMedia.
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