A Texas bankruptcy court Tuesday approved iHeartMedia Inc.'s plan to pay a dozen of its top executives up to $25 million in bonuses for 2018, overriding an objection by the U.S. Trustee's Office.
U.S. Bankruptcy Judge Marvin Isgur approved the plan to pay the bankrupt media giant's CEO, chief operating officer and nine other top executives between $8.3 million and $24.9 million in bonuses based on the company's quarterly income numbers.
In March 2018, the company had proposed an incentive plan where 11 top executives will receive bonuses based.
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