John Malone’s Liberty Media Corp., which last month officially abandoned a plan buy a stake in bankrupt iHeartMedia Inc., continues to express interest in the nation’s largest radio broadcaster, according to people familiar with the matter.
Liberty, which owns a controlling interest in satellite-radio-broadcasting company Sirius XM, is working on revamping its initial offer, one of the people said. The media company had offered to pay about $1.2 billion for a 40% stake in iHeartMedia before withdrawing its bid last month.
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