iHeartMedia, the largest owner of radio stations in the U.S., agreed to enter into a consent decree with FCC to settle a probe the agency launched last year into iHeartMedia’s compliance with federal rules prohibiting a specific form of payola dubbed "showola."

iHeartMedia, the largest owner of radio stations in the U.S., agreed to enter into a consent decree with FCC to settle a probe the agency launched last year into iHeartMedia’s…

The FCC was probing allegations of what it called “showola," investigating if iHeart gave favorable airplay to artists who played the radio giant's shows and music festivals.