Liberty Media Seeks to Increase Stake in iHeartMedia

An affiliate of John Malone’s Liberty Media Corp. is seeking Justice Department permission to buy a larger piece of iHeartMedia Inc., according to people familiar with the matter, a deal that would put the nation’s largest radio broadcaster under the same corporate umbrella as the leading concert promoter and satellite-radio giant SiriusXM. Liberty owns a…

An affiliate of John Malone’s Liberty Media Corp. is seeking Justice Department permission to buy a larger piece of iHeartMedia Inc., according to people familiar with the matter, a deal that would put the nation’s largest radio broadcaster under the same corporate umbrella as the leading concert promoter and satellite-radio giant SiriusXM.

Liberty owns a 4.8% stake in iHeart through Liberty SiriusXM Group; the deal now under consideration could give it control or outright ownership of the broadcaster, according to people…

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