Apple is thinking about a considerable financial investment in the radio group iHeartMedia, the Financial Times reported Thursday.
That might supposedly indicate a multi-million dollar equity stake or marketing collaboration. The offer is not completed.
iHeartMedia, owner of iHeartRadio , consists of a variety of popular live radio stations like KIIS FM, a radio streaming service, celebrations, and more. It declared personal bankruptcy in March of this year.
Apple has actually been boosting its own music company, Apple Music, just recently. It has 50 million active users , and it obtained Shazam in September. Apple even apparently has more users in the United States than Spotify . With 83 million paid customers, Spotify still has more listeners worldwide. If Apple desires to narrow that space, #peeee
Folding in iHeart Media may make great company sense. The reality that they’re both “i” business is simply a benefit.