Welcome to our dedicated page for Iheartmedia news (Ticker: IHRT), a resource for investors and traders seeking the latest updates and insights on Iheartmedia stock.
iHeartMedia Inc (IHRT) stands as a leader in multiplatform audio entertainment, combining broadcast radio dominance with digital streaming innovation. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, financial milestones, and strategic initiatives shaping the evolving audio media landscape.
Access real-time announcements including quarterly earnings reports, content partnership expansions, and technological advancements across iHeartMedia's three core segments: broadcast networks, digital platforms like iHeartRadio, and media services infrastructure. Our curated collection simplifies tracking of regulatory filings, leadership changes, and market positioning moves critical for informed analysis.
Key coverage areas include advertising revenue trends, podcasting ecosystem growth, live event sponsorships, and broadcast technology upgrades. Bookmark this page for streamlined access to press releases, SEC filings, and expert analyses that matter most for understanding IHRT's performance in competitive media markets.
The E.W. Scripps Company (NASDAQ: SSP) has finalized the sale of Triton to iHeartMedia (NASDAQ: IHRT) for $230 million, marking a significant move in its portfolio strategy. Scripps acquired Triton in 2018 for $150 million, and the divestment has allowed the company to nearly double its return on investment. The proceeds from this sale will be directed towards debt reduction. This transaction follows the earlier sale of podcast company Stitcher, signaling Scripps' exit from the podcasting and digital audio sectors and a renewed focus on growth in television.
iHeartMedia (Nasdaq:IHRT) announced FCC approval for its acquisition of certain radio stations, conditional on temporary shareholder restrictions for Global Media & Entertainment Investments Ltd (GMEI). GMEI's recent investment of 8.7% in iHeartMedia's Class A Common stock violated FCC foreign ownership rules, which limit foreign ownership to 5% without prior approval. iHeartMedia has filed a petition requesting FCC permission for GMEI to own up to 9.99%. The company emphasizes compliance with FCC regulations while maintaining strong shareholder relationships.
LiveXLive Media, Inc. announces the upcoming iHeartRadio Album Release Party with Justin Bieber on March 25, 2021, at 7 PM local time. This exclusive event celebrates the release of his new album Justice, which dropped on March 19. Hosted by Elvis Duran, the event will feature a live video stream on LiveXLive and broadcasts on iHeartMedia's Pop, Hot AC, and Rhythm stations. Justin Bieber is a global superstar with over 75 billion career streams and 70 million albums sold.
iHeartMedia (NASDAQ: IHRT) has announced that its CEO Bob Pittman and COO Rich Bressler will take part in a Q&A session at Deutsche Bank’s 29th Annual Media, Internet & Telecom Conference on March 10, 2021, at 1:00 p.m. ET. A live webcast will be accessible via the Investors homepage of iHeartMedia's website. iHeartMedia is a leading audio company in the U.S., reaching 90% of Americans monthly. It includes several groups such as the Multiplatform Group, Digital Audio Group, and Audio & Media Services, bolstered by a strong podcasting presence and innovative marketing analytics.
The Seattle Kraken and Climate Pledge Arena have announced a multi-year partnership with iHeartMedia Seattle, starting from the Kraken's inaugural 2021-2022 season. iHeartMedia's Sports Radio 950 KJR will broadcast all Kraken games, along with selected games on 96.5 JACK-FM. This collaboration enhances fan engagement, with live broadcasts and exclusive content from Climate Pledge Arena. The partnership also positions iHeartMedia as a key promotional partner for over 80 annual concerts and events at the arena, emphasizing the combined reach and influence of both brands in the Pacific Northwest.
iHeartMedia (NASDAQ: IHRT) has announced a new operational structure, splitting its business into two segments: the Digital Audio Group and the Multiplatform Group. The Digital Audio Group, which includes iHeartRadio and its podcasting business, currently makes up almost 20% of total revenue and has experienced significant growth, with a 53% year-over-year revenue increase in Q4 2020. This separation aims to enhance financial visibility, allowing both sectors to focus on their unique strengths in audio content and advertising.
iHeartMedia (Nasdaq: IHRT) reported Q4 2020 revenue of $936 million, down 9% YoY, but showed improvement from prior quarters. Digital revenue surged 53%, bolstered by a 100% increase in podcasting. GAAP Operating income was $113 million, down from $165 million YoY. Full-year revenue totaled $2.948 billion, a 20% decline. The company announced it will report results by three segments beginning Q1 2021, aiming for better financial visibility. iHeartMedia achieved $250 million in cost savings and improved liquidity with $721 million in cash on hand as of December 31, 2020.
iHeartMedia's Black Information Network (BIN) has teamed up with the Ad Council and COVID Collaborative for the "It’s Up To You" COVID-19 vaccine education initiative. Aiming to combat vaccine hesitancy in the Black community, the initiative will offer tailored programming to address concerns and promote accurate information. Founding Partners like Bank of America and CVS Health will contribute over 1,300 hours of advertising to raise awareness. The campaign includes PSAs and expert interviews, emphasizing the importance of informed decisions regarding vaccinations.
LiveXLive Media has partnered with iHeartMedia to exclusively livestream the 'iHeartCountry Album Release Party with Florida Georgia Line' on February 19, 2021, at 7 PM local time. The online event celebrates Florida Georgia Line's fifth album, Life Rolls On, released on February 12, 2021, featuring performances and exclusive interviews. LiveXLive has accumulated over 118 million views in 2020 and has worked with numerous high-profile artists. This collaboration signals an expanding partnership between LiveXLive and iHeartMedia, aimed at providing global audiences with engaging musical experiences.
