Regulators in the United States have cleared a change to iHeartMedia’s foreign ownership structure, confirming no national security review is required.
The decision follows a filing linked to investors connected with Global through businessman Michael Tabor, allowing shares to be reorganised between related companies and additional individuals to be approved within the ownership chain.
Authorities concluded the proposal did not raise concerns requiring escalation, after reviewing the application, prior filings and existing compliance arrangements with the US Department of Justice.
The approval does not change how much of iHeartMedia the investor group can own, and their stake remains capped at 14.99 percent.
It allows flexibility to move or manage shares internally without seeking fresh approval each time, but does not permit any increase beyond the existing limit.
The wider foreign ownership position of iHeartMedia has already been approved at high levels across multiple investors, but individual groups remain restricted to prevent any single party gaining control.
The move doesn’t suggest a Global takeover is imminent, as that would require a separate process, including new regulatory approvals and likely a full national security review.
This clearance simply removes a potential obstacle for a minority investor, rather than signalling any shift in control of one of the world’s largest radio operators.
In other news, Variety is reporting a potential merger between iHeartMedia and SIRIUSXM – read all about that, here.