iHeartMedia secures exclusivity extension following plan confirmation

By Caroline Salls

Pittsburgh, Feb. 5 – iHeartMedia, Inc. obtained an 83-day extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, iHeartMedia’s exclusive plan-filing period was extended through April 30 and the solicitation period through June 29.

As previously reported, iHeart’s plan was confirmed last month.

“Following the confirmation of the plan, the debtors will move as expeditiously as possible to emerge from these Chapter 11 cases,” the motion said.

“However, the debtors do not anticipate emerging before the current expiration of exclusivity, and therefore are seeking this extension out of an abundance of caution in the event that unforeseen issues arise with respect to confirming or effectuating the plan.”

iHeartMedia is a media and entertainment company based in San Antonio. The company filed bankruptcy on March 15, 2018 under Chapter 11 case number 18-31274.

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