IHeartMedia Holds Talks About a Possible Sale to Sirius XM (3)

IHeartMedia Inc. is holding talks about a possible sale to Sirius XM Holdings Inc., according to people familiar with the discussions.

The talks are preliminary and there’s no guarantee any deal will happen, said the people, who asked to not be identified because the matter is private. Representatives for iHeartMedia and Sirius XM declined to comment.

A deal would combine the largest radio station owner in the US with the largest satellite radio service, creating an audio giant they hope can grow even as radio fades. The combined company would have more than $12 billion in sales.

IHeart has ...