Is Apple contemplating investing in iHeartRadio?

Is Apple contemplating investing in iHeartRadio?

After submitting for chapter earlier this 12 months, it seems iHeartRadio is looking for buyers.

The radio large revealed that it was $20 billion in debt in March and has reportedly been exploring investments with a number of corporations in accordance with their reorganization plan. According to the Financial Times, Apple is among the buyers being thought-about, and iHeartRadio is in search of a deal that may equate to tens of tens of millions of . Another supply advised the Times that the deal could possibly be within the type of a advertising partnership as an alternative of direct money infusion into the corporate.

The Times additionally famous that if the deal had been to occur, Apple Music’s Beats 1 could possibly be distributed to a wider viewers in broadcast radio, versus simply via Apple Music and iTunes.

While Apple declined to remark, the partnership could possibly be large for music distribution in each corporations.

H/T: The Verge