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Activist Investor Mad at iHeart’s Debt Maneuvering

New York Post

Radio giant iHeartMedia’s latest debt maneuver is fanning the flames of a dispute with activist investor Mario Gabelli. iHeart, led by Chief Executive Bob Pittman, owns 90 percent of publicly traded Clear Channel Outdoor Holdings, the nation’s largest billboard company. Gabelli’s Gamco Asset Management owns 10 percent of the publicly traded shares. Gamco claims struggling iHeart, owned by private equity firms THL Partners and Bain Capital, is taking advantage of its billboard unit...

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