The New York Post has offered a fascinating new take on the iHeart situation, which suggests private equity house Silver Lake Partners may enter the bidding for the media giant (now in bankruptcy proceedings), challenging potential purchaser John Malone of Liberty Media.

iHeart is due to clear the bankruptcy process in the fall, at which time it will probably attract a buyer. Malone's Liberty had submitted a $1.16 billion bid for 40% of iHeart that was subsequently withdrawn after new financial numbers were released.

Silver Lake, writer Josh Kosman speculates, could partner with the owners of iHeart-affiliated WKTU N.Y. and KIIS-FM L.A. and Irving Azoff's Oak View Group to tender a bid (iHeart's creditors, the story says, value it at $12-$15b). Silver Lake is a lead stakeholder in Endeavor agency.

As we say, it's a fascinating take—though our sources says it's fiction. Check it out here.

Meanwhile, could Malone be pondering a consolidation of multiple ad-supported media properties, including iHeart, for a big play? Stay tuned.