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IHeart Investors Lose Texas Appeal Over $516M Stock Move

By RJ Vogt ( October 13, 2017, 5:09 PM EDT) -- Media company iHeart Communications Inc. didn't violate contracts with investment funds that lent it billions when it transferred $516 million in stock from one subsidiary to another, a Texas appellate panel ruled Wednesday, finding those contracts didn't require the transfers to have a profit motive....

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