iHeartMedia Wins More Time in Legal Fight with Creditors

Bloomberg: IHeartMedia has won more time to try to convince a Texas judge that the company properly shifted shares valued at more than $500 million into a subsidiary beyond some creditors’ reach. A lawyer representing Gamco Investors, an intervenor in the case on the company’s side, said a temporary restraining order prohibiting debt holders from issuing default notices on the company was extended by agreement among the parties.