(Corrects to debtholders from shareholders, in paragraph 2)

March 15 (Reuters) - Radio broadcaster iHeartMedia Inc on Thursday said the company and its units, including iHeartcommunications Inc, filed for Chapter 11 bankruptcy protection.

The company said it reached an agreement with debtholders of more than $10 billion of its outstanding debt.

Cash on hand and cash generated from ongoing operations will be sufficient to fund the business during the bankruptcy process, iHeartMedia said. (Reporting by Mekhla Raina in Bengaluru; Editing by Gopakumar Warrier)