Apple in talks to invest in iHeart Radio
Apple CEO Tim Cook. Photo by John Moore/Getty Images.
Apple has held preliminary talks about investing in bankrupt broadcaster iHeart Radio, in an effort to boost its streaming music service, per the Financial Times.
Why it's a big deal: Because terrestrial radio still holds strategic value in a digital streaming age.
More from the FT:
"Despite iHeartMedia’s financial difficulties, it remains the largest radio broadcaster in the US, operating more than 850 stations across the country. That makes it valuable to the music industry and its promoters, especially when it comes to breaking new acts or building awareness of the latest releases."