Ap­ple held talks to take stake in iHeartMe­dia

Viet Nam News - - MARKETS -

CAL­I­FOR­NIA — Ap­ple Inc has held talks with iHeartMe­dia Inc to take a stake in the US ra­dio com­pany, the Fi­nan­cial Times re­ported on Thurs­day, cit­ing peo­ple fa­mil­iar with the mat­ter.

The dis­cus­sions be­tween the two com­pa­nies re­main at a pre­lim­i­nary stage and no deal has been agreed, the re­port said, cit­ing sources.

iHeartMe­dia is hop­ing the iPhone maker will take an eq­uity stake worth mil­lions of dol­lars, the FT re­ported cit­ing one of the sources.

The tie-up could re­sult in a mul­ti­mil­lion-dol­lar mar­ket­ing part­ner­ship rather than a di­rect in­vest­ment, the re­port said cit­ing an­other source. iHeartMe­dia filed for chap­ter 11 bank­ruptcy in March, af­ter reach­ing an agree­ment with cred­i­tors to more than halve its $20 bil­lion debt.

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