Report: iHeartMedia may enter into negotiations for a potential sale to Sirius XM.

According to sources, iHeartMedia is in negotiations about a possible sale to Sirius XM Holdings Inc. If the deal goes through, it would merge the largest radio station owner in the United States with the largest satellite radio service provider, creating an audio giant with annual sales exceeding 12 billion dollars. Both iHeartMedia and Sirius XM are facing challenges in attracting new customers and competing with streaming services owned by companies like Spotify, Apple, and YouTube.