Report: Liberty Looking To Buy More Of iHeartMedia, Seeks DOJ OK

Liberty Target?

THE WALL STREET JOURNAL is reporting that LIBERTY MEDIA CORP. is looking to buy more of iHEARTMEDIA and could gain control or outright ownership of the radio and podcasting company as a result, putting it under common ownership with SIRIUSXM, PANDORA, and LIVE NATION. LIBERTY, headed by JOHN MALONE, owns 4.8% of iHEART through subsidiary LIBERTY SIRIUSXM GROUP and has long been considered a player for ultimate control of iHEART; it owns 33% of LIVE NATION and 71% of SIRIUSXM HOLDINGS INC.

The JOURNAL added that LIBERTY is seeking JUSTICE DEPARTMENT permission to do the deal and that the government is considering the request, although a source told the JOURNAL that LIBERTY has not decided what kind of transaction it would pursue if permission is granted.

A spokesperson for iHEARTMEDIA had no comment when contacted by ALL ACCESS.

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