×
You will be redirected back to your article in seconds

Irving Azoff Steps Down From iHeartMedia Board

iHeartMedia announced on Friday that music industry veteran Irving Azoff has resigned from the company’s board.

Azoff, longtime manager for The Eagles and Christina Aguilera, among others, has been a staunch supporter of the radio giant as iHeart attempts to forestall a bankruptcy filing by pursuing an exchange offer with its debtholders. In an 8-K filing, iHeart stated that Azoff’s decision to step down did not arise from any disagreements over the direction of the company.

Azoff had been on the board since September 2010. In 2013, Azoff launched Global Music Rights, an upstart music licensing company that represents a handful of top artists.

In recent months, Azoff has gone to war with the Radio Music License Committee, which negotiates with licensing companies on behalf of the nation’s radio stations. After talks broke down with GMR last fall, the two sides filed competing anti-trust lawsuits against each other, which remain pending in federal court.

In light of the legal battle — which Azoff has called the most important fight of his career — Azoff’s continued presence on the board of the nation’s largest radio company may have become untenable.

iHeart is straining under the burden of $20 billion in debt, and recently announced that it may not be able to remain a “going concern” for the next 12 months. In an interview with Variety in February, Azoff called iHeart an “incredible company” with a “terrible balance sheet.”

More Music

  • Editorial use only. No book cover

    The True Story of Erroll Garner, the First Artist to Sue a Major Label and Win

    It’s not at all unusual for artists to engage in creative or financial differences with their record labels, but only a few end up in court. Last year, Kanye West sued his label, Universal, and publisher, EMI, claiming that his deals amounted to “servitude” (the EMI suit was settled in September), echoing Prince’s famous battle [...]

  • Peter Gray

    Columbia Records Names Peter Gray Executive VP/ Head of Promotion

    Peter Gray, who stepped down as Warner Bros. Records’ executive VP/GM and head of radio promotion last year, is joining Columbia Records as the label’s EVP and head of promotion, sources tell Variety. He fills the role vacated by Lee Leipsner, who left the company in March. Gray’s appointment is the latest in a series [...]

  • Spotify Awards

    Spotify Is Launching Its Own Music Awards, Based on Streaming Data

    Spotify has set plans for its first-ever music awards — with the winners based entirely on user-generated data. “Your plays, patterns, and habits will help determine the award categories, finalists, and winners for the Spotify Awards by providing a true reflection of what fans are listening to,” the company said in announcing the program Friday. [...]

  • Sheryl Crow 53rd Annual CMA Awards,

    Sheryl Crow Expresses Chagrin Over Grammy Snub in Tweet to Recording Academy

    Many longtime awards-show observers have expressed surprise that former Grammy queen Sheryl Crow didn’t get even a single nomination this year for what she’s said will be her final studio album release, “Threads.” Among them is Crow herself, who tweeted her dismay about the lack of recognition for the all-star duets album in a post [...]

  • Taylor Swift

    Scooter Braun Writes Impassioned Letter to Taylor Swift Following Death Threats

    Following Scooter Braun’s first public statements about the ongoing social media war with Taylor Swift on Thursday afternoon, the manager and business mogul posted an emotional letter late in the night describing death threats received at his home. In the note, shared on his social media channels, he implores Swift to act responsibly, writing, “It’s [...]

  • U2, Seattle 14 May 2017

    U2 Drop New Song, ‘Ahimsa,’ Ahead of First Concert in India

    After a flurry of rumors on Thursday, U2 dropped their first single in two years: “Ahimsa,” a collaboration with Oscar- and Grammy-winning Indian musician AR Rahman, ahead of the group’s first-ever visit to the country next month. Rahman has a vast track record of film soundtracks and is best known for his work on the [...]

  • French Montana performs at the 2019

    French Montana Hospitalized Following Robbery False Alarm

    French Montana remains in hospital after checking in following an initial report of a robbery at his home, Variety has confirmed. A Los Angeles County Sheriff’s Department representative confirmed that deputies responded to Montana’s home in Calabasas after reports of a robbery in progress but did not find evidence of criminal activity and departed the [...]

More From Our Brands

Access exclusive content