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iHeartMedia Completes Exchange Of Warrants For Common Stock
January 8, 2021 at 6:03 AM (PT)
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Swap
iHEARTMEDIA, INC. has completed its swap of warrants for Class A of Class B common stock. The exchange increases the number of outstanding Class A shares from 65 million to 110 million and Class B shares from 7 million to 29 million, reducing the number of warrants from 75 million to 7 million.
The exchange follows FCC approval of the company's petition to allow foreign ownership of up to 100%.
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