iHeartMedia, Inc. (IHRT) Adopts Short-Term Stockholder Rights Plan
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iHeartMedia Adopts Short-Term Stockholder Rights Plan
May 6, 2020 4:00 PM EDTSAN ANTONIO--(BUSINESS WIRE)-- iHeartMedia, Inc. (NASDAQ: IHRT) (iHeartMedia or the Company) today announced that its Board of Directors (the Board) has approved the adoption of a short-term stockholder rights plan (the Rights Plan) in order to protect the best interests of all iHeartMedia stockholders during the current period of high equity-market volatility and price disruption.
The Board adopted the Rights Plan at this time due to the unprecedented impact of the COVID-19 pandemic on equity market valuations; the complex nature of the Companys capital structure; to enable all of iHeartMedias stockholders to realize... More
