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iHeartMedia, Inc., formerly CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas.[3] It is the holding company of iHeartCommunications, Inc. (formerly Clear Channel Communications, Inc.), a company founded by Lowry Mays and B. J. “Red” McCombs in 1972, and later taken private by Bain Capital, LLC and Thomas H. Lee Partners through a leveraged buyout in 2008. As a result of this buyout, Clear Channel Communications, Inc. began to operate as a wholly owned subsidiary of CC Media Holdings, Inc. On September 16, 2014, CC Media Holdings, Inc. was rebranded iHeartMedia, Inc.; and Clear Channel Communications, Inc., became iHeartCommunications, Inc. On March 14, 2018, the company filed to operate under Chapter 11 bankruptcy, dealing with a debt load in excess of $20 billion. iHeartMedia, Inc. specializes in radio broadcasting through division iHeartMedia (sans “Inc.” suffix; formerly Clear Channel Media and Entertainment, Clear Channel Radio, et al.) and subsidiary iHeartMedia and Entertainment, Inc. (formerly Clear Channel Broadcasting, Inc.); the company owns more than 850 full-power AM and FM radio stations in the U.S., making it the nation’s largest owner of radio stations. Additionally, the company leases two channels on Sirius XM Satellite Radio, and has expanded its online presence through the iHeartRadio platform. Prior to December 2018, iHeartMedia, Inc. also did business in outdoor advertising through subsidiary Clear Channel Outdoor Holdings, Inc; Clear Channel Outdoor Holdings was then listed as a separate public company.