<SEC-DOCUMENT>0001567619-19-009882.txt : 20190506
<SEC-HEADER>0001567619-19-009882.hdr.sgml : 20190506
<ACCEPTANCE-DATETIME>20190506170526
ACCESSION NUMBER:		0001567619-19-009882
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190501
FILED AS OF DATE:		20190506
DATE AS OF CHANGE:		20190506

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ABRAMS CAPITAL MANAGEMENT, L.P.
		CENTRAL INDEX KEY:			0001358706
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53354
		FILM NUMBER:		19800179

	BUSINESS ADDRESS:	
		STREET 1:		222 BERKELEY STREET, 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-646-6100

	MAIL ADDRESS:	
		STREET 1:		222 BERKELEY STREET, 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER NAME:	
		FORMER CONFORMED NAME:	PAMET CAPITAL MANAGEMENT, LP
		DATE OF NAME CHANGE:	20060407

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Abrams Capital Partners II, L.P.
		CENTRAL INDEX KEY:			0001292420
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53354
		FILM NUMBER:		19800180

	BUSINESS ADDRESS:	
		STREET 1:		222 BERKELEY STREET, 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-646-6100

	MAIL ADDRESS:	
		STREET 1:		222 BERKELEY STREET, 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ABRAMS CAPITAL MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0001165407
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53354
		FILM NUMBER:		19800181

	BUSINESS ADDRESS:	
		STREET 1:		222 BERKELEY STREET, 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		6176466100

	MAIL ADDRESS:	
		STREET 1:		222 BERKELEY STREET, 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER NAME:	
		FORMER CONFORMED NAME:	PAMET CAPITAL MANAGEMENT LLC
		DATE OF NAME CHANGE:	20020117

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ABRAMS CAPITAL, LLC
		CENTRAL INDEX KEY:			0001112443
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53354
		FILM NUMBER:		19800182

	BUSINESS ADDRESS:	
		STREET 1:		222 BERKELEY ST., 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		6176466100

	MAIL ADDRESS:	
		STREET 1:		222 BERKELEY ST., 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER NAME:	
		FORMER CONFORMED NAME:	ABRAMS CAPITAL LLC
		DATE OF NAME CHANGE:	20000420

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Abrams David C
		CENTRAL INDEX KEY:			0001292250

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53354
		FILM NUMBER:		19800183

	MAIL ADDRESS:	
		STREET 1:		222 BERKELEY STREET, 21ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			iHeartMedia, Inc.
		CENTRAL INDEX KEY:			0001400891
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO BROADCASTING STATIONS [4832]
		IRS NUMBER:				260241222
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		20880 STONE OAK PARKWAY
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78258
		BUSINESS PHONE:		210-822-2828

	MAIL ADDRESS:	
		STREET 1:		20880 STONE OAK PARKWAY
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78258

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CC Media Holdings Inc
		DATE OF NAME CHANGE:	20090721

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	C C Media Holdings Inc
		DATE OF NAME CHANGE:	20070730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BT Triple Crown Capital Holdings III, Inc.
		DATE OF NAME CHANGE:	20070524
</SEC-HEADER>
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<SEQUENCE>1
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    <periodOfReport>2019-05-01</periodOfReport>

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    <issuer>
        <issuerCik>0001400891</issuerCik>
        <issuerName>iHeartMedia, Inc.</issuerName>
        <issuerTradingSymbol>IHRT</issuerTradingSymbol>
    </issuer>

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            <rptOwnerName>ABRAMS CAPITAL MANAGEMENT, L.P.</rptOwnerName>
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            <rptOwnerStreet1>222 BERKELEY STREET, 21ST FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001292420</rptOwnerCik>
            <rptOwnerName>Abrams Capital Partners II, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>222 BERKELEY STREET, 21ST FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001165407</rptOwnerCik>
            <rptOwnerName>ABRAMS CAPITAL MANAGEMENT, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>222 BERKELEY STREET, 21ST FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
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            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001112443</rptOwnerCik>
            <rptOwnerName>ABRAMS CAPITAL, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>222 BERKELEY STREET, 21ST FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001292250</rptOwnerCik>
            <rptOwnerName>Abrams David C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>222 BERKELEY STREET, 21ST FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Old Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2019-05-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>16761917</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>New Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2019-05-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>222602</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>222602</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
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                    <footnoteId id="F5"/>
                    <footnoteId id="F6"/>
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            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Special Warrants</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.001</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2019-05-01</value>
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            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>29731</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F7"/>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2019-05-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2039-05-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>New Class A Common Stock/New Class B Common Stock</value>
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                <underlyingSecurityShares>
                    <value>29731</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>29731</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
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                    <footnoteId id="F5"/>
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    <footnotes>
        <footnote id="F1">On March 14, 2018, iHeartMedia, Inc. (the &quot;Issuer&quot;) and certain of its direct and indirect domestic subsidiaries (collectively, the &quot;Debtors&quot;) filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the &quot;Bankruptcy Court&quot;), seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code. On January 22, 2019, the Bankruptcy Court entered an order confirming the Debtors' Modified Fifth Amended Joint Chapter 11 Plan of Reorganization (as amended, modified or supplemented from time to time, the &quot;Plan&quot;), and on May 1, 2019 (the &quot;Effective Date&quot;), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy.</footnote>
        <footnote id="F2">On the Effective Date, all outstanding shares of the Issuer's capital stock, including the Class A common stock, par value $0.001 per share (&quot;Old Class A Common Stock&quot;), were cancelled and extinguished pursuant to the Plan.</footnote>
        <footnote id="F3">Represents shares of the Issuer's new Class A common stock, par value $0.001 per share (&quot;New Class A Common Stock&quot;), issued to the Reporting Persons pursuant to the Plan, in exchange for debt securities of the Issuer previously held by the Reporting Persons for no additional consideration and in accordance with the Plan approved by the Bankruptcy Court.</footnote>
        <footnote id="F4">Shares reported herein as beneficially owned by Abrams Capital, LLC (&quot;Abrams Capital&quot;) represent shares held for the account of private investment funds, including Abrams Capital Partners II, L.P. (&quot;ACP II&quot;), for which Abrams Capital serves as general partner. Shares reported herein for Abrams Capital Management, L.P. (the &quot;LP&quot;) and Abrams Capital Management, LLC (the &quot;LLC&quot;) represent shares beneficially owned by ACP II and shares beneficially owned by other private investment funds for which the LP serves as investment manager. The LLC is the general partner of the LP. Shares reported herein for Mr. Abrams represent the above referenced shares reported for Abrams Capital and the LLC. Mr. Abrams is the managing member of Abrams Capital and the LLC. Mr. Abrams no longer serves as a director of the Issuer.</footnote>
        <footnote id="F5">Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest in such shares, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F6">Of the shares received on May 1, 2019, 193,127 are held for the account of ACP II, 206,717 may be deemed to be beneficially owned by Abrams Capital, and all of such shares may be deemed beneficially owned by Mr. Abrams, the LP and the LLC.</footnote>
        <footnote id="F7">Represents warrants to purchase shares of the Issuer's New Class A Common Stock or shares of Class B common stock, par value $0.001 per share (&quot;New Class B Common Stock&quot;), issued to the Reporting Persons pursuant to the Plan, in exchange for debt securities of the Issuer previously held by the Reporting Persons for no additional consideration and in accordance with the Plan approved by the Bankruptcy Court.</footnote>
        <footnote id="F8">Of the warrants received on May 1, 2019, none are deemed beneficially owned by ACP II or Abrams Capital, and all may be deemed beneficially owned by Mr. Abrams, the LP and the LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Abrams Capital Partners II, L.P., by Abrams Capital, LLC, its General Partner, by David C. Abrams, Managing Member</signatureName>
        <signatureDate>2019-05-06</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Abrams Capital Management, L.P., by Abrams Capital Management, LLC, its General Partner, by David C. Abrams, Managing Member</signatureName>
        <signatureDate>2019-05-06</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Abrams Capital Management, LLC, by David C. Abrams, Managing Member</signatureName>
        <signatureDate>2019-05-06</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Abrams Capital, LLC, by David C. Abrams, Managing Member</signatureName>
        <signatureDate>2019-05-06</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ David C. Abrams</signatureName>
        <signatureDate>2019-05-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
