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One-hit wonder

4 May 2017 By Lauren Silva Laughlin

The U.S. radio giant has muddled through a 2008 mega-buyout largely because of looser terms on $20 bln of debt. IHeartMedia isn’t sure now if it can survive another year. As Bain and Thomas H. Lee fight to save their investment, creditors keep playing the same covenant-lite song.

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