Quantcast
THE NEW iHEART EMERGES

HeartMedia has completed its restructuring process, reducing its debt to $5.75b from $16.1b.

The restructuring has resulted in iHeartMedia and Clear Channel Outdoor Holdings separating and creating two independent, publicly traded companies. Clear Channel will continue to be traded on the New York Stock Exchange under the ticker symbol CCO.

“iHeartMedia enters this next phase of growth as a multi-platform audio company with a vastly improved financial profile,” iHeartMedia CEO Bob Pittman said. “We are well-positioned to continue to innovate and offer cutting-edge technologies, products and services to our audiences and advertisers.”

Pittman also touted iHeart’s success with live events such as the iHeartRadio Music Awards and podcasts, which have blossomed  via the acquisition of Stuff Media.

“We continue to technologically transform our offerings for both consumers, with whom we are interacting more broadly across platforms, and advertisers, to whom we are offering data and analytics solutions previously available only from key digital players,” he said.

“This is a very exciting time for audio, and iHeartMedia will continue to break new ground and unlock new opportunities across all platforms to reach audiences everywhere.”

REVENUE CHART: BATTLE HYMNS OF REPUBLIC
Monte's army on the offensive (9/13a)
AMERICANA AWARDS: WINNERS AND TAKEAWAYS
A bridge to the Grammys? (9/12a)
YOUR TOP 20
IS POSTED
We give him a ton of ink. (9/12a)
NEAR TRUTHS:
CALLING THE BALL
A deep dive by I.B. Bad (9/13a)
GREEN DAY'S BIG DAY
Warming up for the stadium tour (9/12a)
MORE RAINMAKERS
The players who made it happen.
WHAT ABOUT THOSE LEAKS?
Even funnier in French.
RIHANNA'S ETA
And about $50m in funding.
THE BUNDLE BUNGLE
When will the rules change?
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)