iHeartMedia Inc. , the operator of radio and television stations, is planning to include language in its next quarterly report warning investors that it may not survive another year, according to a regulatory filing. The company, which owns iHeartRadio and outdoor advertising company Clear Channel Outdoor Holdings , said it continues to expect cash flow to be negative and is uncertain as to whether it will be able to refinance or extend the maturities of some of its borrowings. The company has almost $350 million of debt coming due this year, part of a massive $20 billion debt load it took on as part of a $24 billion leveraged buyout of then Clear Channel Communications Inc. by private equity firms Bain Capital and Thomas H. Lee Partners in 2008. "Management anticipates that our financial statements to be issued for the three months ended March 31, 2017 will include disclosure indicating there will be substantial doubt as to our ability to continue as a going concern for a period of 12 months following the date the first quarter 2017 financial statements are issued," the company said in its filing with the Securities and Exchange Commission. iHeartMedia shares were trading up 3% on Friday, while Clear Channel Outdoors shares were down 2%.
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