Liberty Pulls iHeart Offer After Finding Results Were 'Below Expectations'
Liberty Media withdrew its proposal to buy a portion of iHeartMedia “after reviewing results which were below expectations and negatively impacted our initial estimates of value,” Liberty said Friday. The offer was reportedly $1.8 billion for 40 percent of the…
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company. “We remain open to future discussions as iHeart proceeds with its reorganization,” the release said. Liberty didn't comment further and iHeart didn’t comment.