Another Suitor For iHeartMedia?
The New York Post reported today that private equity firm Silver Lake Partners is in talks with iHeart creditors about making an acquisition as part of the company’s emergence from Chapter 11.
As with Liberty Media and its stakes in SiriusXM, Pandora, and Live Nation, Silver Lake also has investments in companies that could lead to more integration. Silver Lake owns 51% of Endeavor, the combined group made out of the former William Morris, Endeavor, and IMG talent agencies that has since expanded into licensing, production, venue management, digital content, and ownership of brands like PBR, UFC and E-League. It also recently invested $100 million in Oak View Group, which operates and develops arenas and performance venues including Madison Square Garden and the Los Angeles Forum. Adding iHeartMedia would help promote the concerts and sporting events hosted at these venues, while also giving a massive platform to Endeavor signed talents.