×

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

  • DJ D- Nice'The New Edition Story'

    How DJ D-Nice's Club Quarantine Became an Isolation Sensation

    DJ D-Nice’s Instagram Live virtual dance parties have been the sensation of isolation, drawing upwards of 150,000 viewers — among them, both Democratic candidates, Joe Biden and Bernie Sanders, former first lady Michelle Obama, Drake, Oprah Winfrey, Will Smith and even Facebook CEO Mark Zuckerberg — and helping relieve anxiety during this time of stress [...]

  • Cardi B Joe Exotic

    Cardi B Pledges to Start a GoFundMe for Joe Exotic From Netflix's 'Tiger King'

    Cardi B, like most people in the world, is hooked on Netflix’s “Tiger King.” Over the past couple of days, Cardi has been tweeting about the new docu-series, which follows the bizarre story of Joe Exotic, a private zoo owner with hundreds of exotic animals who ends up in jail for hiring a hitman to [...]

  • Sie7etr3: Dglo73, Djyeiiro73 (kneeling), Fetti031, Youngkilla73,

    Latin Label Sie7etr3 Partners With Caroline for Distribution

    Caroline and Latin label Sie7etr3 have entered into a worldwide distribution pact. Sie7etr3 The Label (known as Siete Tres or 73) is home to Chucky73, Fetti031, Youngkilla73 and Dglo73. “Dili” by Chucky73 and Fetti031, which dropped January 17, is the Bronx-based label’s first release under the new partnership. Future releases and label services will be [...]

  • Brad "Scarface" Jordan, Michele Lemon. In

    Rapper Scarface on Living With Coronavirus: 'I'm Scared to Death'

    Rapper Scarface gave an emotional account of his time in isolation since testing positive for the coronavirus. Scarface, whose real name is Brad Jordan, was interviewed by Atlanta rapper Ludacris on Instagram Live on March 27. Some three thousand people tuned in for the 20-minute chat. “I’m scared to death,” said Scarface, who on Thursday [...]

  • Dua Lipa album cover Future Nostalgia

    Dua Lipa's 'Future Nostalgia': Album Review

    Is it wrong, right now, to be as happy as Dua Lipa’s second album makes you? Is this any time to celebrate pop music at its most ebullient, when we should be bullish on meditation? Shouldn’t we be focusing our attention on weightier matters than how to all guiltlessly throw ourselves a solo disco party? [...]

  • Future Man Season 3 Trailer

    TV News Roundup: Hulu Releases 'Future Man' Final Season Trailer (Watch)

    In today’s TV News Roundup, Hulu released a trailer for the third and final season of “Future Man,” and Fox and iHeartRadio’s upcoming concert special added Camila Cabello, Dave Grohl, H.E.R. and Sam Smith to its lineup. FIRST LOOKS Hulu has released a trailer for the third and final season of “Future Man.” As the [...]

More From Our Brands

Access exclusive content