Investors in iHeartMedia Inc.’s billboard company, Clear Channel Outdoor Holdings Inc., have agreed to settle legal disputes over financial arrangements between the two companies as they prepare to part ways, WSJ Pro Bankruptcy reported. Under a chapter 11 bankruptcy exit plan, radio broadcaster iHeart will separate from the billboard company. A proposed settlement unveiled Monday spells out the terms of the separation, including a forecast that Clear Channel will collect $150 million from iHeart, which will also provide financing to boost the billboard company’s chances of success after the separation. The settlement pact details the agreements that will clear away the threat of continuing litigation over accusations that iHeart kept itself afloat at Clear Channel’s expense.
