Apple holds talks with iHeartMedia Inc for an equity stake in the company: Report

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. [caption id=“attachment_5466821” align=“alignnone” width=“1280”] Apple’s logo is seen outside flagship store downtown Milan, Italy, October 23, 2018. Reuters[/caption] 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. In June, John Malone’s Liberty Media withdrew its proposal to invest in iHeartMedia. Apple and iHeartMedia did not immediately respond to requests for comments.