Iheartmedia, inc. announces $100 million in proceeds expected from new mountain capital's acquisition of broadcast music, inc.

New york--(business wire)--iheartmedia, inc. (“iheart”) announced today that in connection with the previously announced acquisition of broadcast music, inc. (“bmi”) to a shareholder group led by new mountain capital, llc, it expects to receive approximately $100m of proceeds related to its equity interest in bmi, subject to approval of the transaction by bmi shareholders and customary regulatory approvals. the company plans to use the proceeds for general corporate purposes, which may include.
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