iHeartMedia Inc (IHRT)

TextNow Adds iHeartRadio to the Free Flex Plan -- Stream Music and Radio Without Paying for DataJune 3, 2026 9:00 AM
PR Newswire (US) iHeartRadio joins the growing roster of select apps included in TextNow's free data ecosystemWATERLOO, ON, June 3, 2026 /PRNewswire/ -- TextNow, the original app-based mobile phone service redefining how people stay connected, announced today that iHeartRadio will become a select app included in its Free Flex Plan, giving customers included 5G data access to stream music and live radio while on the go. The partnership marks TextNow's first major content integration and reflects the company's broader push to build a free content ecosystem into its wireless offering, giving customers a more flexible experience that aligns with how people actually use their phones today. Instead of locking people into rigid monthly plans, TextNow gives people the ability to activate data when they need it, scale it based on their lifestyle and stay connected on a reliable national 5G network.The launch also builds on TextNow's recent rollout of eSIM and flexible data plans, making it faster and easier for people to activate service directly from the app. With iHeartRadio now included in the Free Flex experience, customers can activate a free eSIM and get immediate access to their music and radio catalog.The integration is part of TextNow's larger strategy to create a more customizable wireless experience that gives people greater control over how they stay connected and when they choose to pay for data."People don't want their phone service locked into one rigid model anymore," said Derek Ting, CEO of TextNow. "At TextNow our mission is to make the old way of paying for a phone service obsolete. TextNow is continuing to find new ways to give customers more for free, and adding iHeartRadio to the Free Flex Plan is a perfect example of that in practice: more included, nothing owed. Music and streaming are part of everyday life, and this partnership is another step toward building a wireless experience that is more flexible, modern and built around how people actually use their phones."With iHeartRadio, listeners can access thousands of live radio stations, playlists and personalized music stations across devices."iHeartRadio is built to be everywhere its listeners are -- in the car, at home, on the go, and now as part of their phone plan. TextNow is reaching millions of Americans who deserve the same access to great audio that everyone else has. This is the kind of partnership that puts listeners first, and we are proud to be TextNow's first audio content partner," said Michael Biondo, President, Business Development and Strategic Partnerships for iHeartMedia.TextNow's Free Flex Plan includes nationwide talk and text, plus included 5G data access for select apps. Customers can upgrade their data plan when they need it without being tied to traditional monthly contracts or oversized wireless plans.The iHeartRadio integration is now available to eligible Free Flex customers.About TextNow
Founded in Waterloo, Ontario in 2009, TextNow is the largest ad-supported free wireless service in the United States, built on the belief that phone service should be more flexible, accessible and affordable for everyone. TextNow delivers wireless service through an app, giving customers unlimited talk and text, free data for 25+ apps and access to the same 5G network as the major carriers. Those who need more can add wireless data on their own terms by the day, week, or month, and remove ads with the Unlimited Plan. TextNow has offices in San Francisco and Waterloo, Ontario. For more information, visit textnow.com or find us free in the App Store and Google Play.About iHeartMedia, Inc.
iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with nine out of ten Americans listening to iHeart broadcast radio in every month. iHeart's broadcast radio assets alone have a larger audience in the U.S. than any other media outlet and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to both Podtrac and Triton, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, has the highest-reach and most engaged influencers, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information.  View original content to download multimedia:https://www.prnewswire.com/news-releases/textnow-adds-iheartradio-to-the-free-flex-plan--stream-music-and-radio-without-paying-for-data-302790232.htmlSOURCE TextNow Original: TextNow Adds iHeartRadio to the Free Flex Plan -- Stream Music and Radio Without Paying for Data

iHeartMedia and Netflix Deepen Partnership with Daily Live Video Stream of Nationally Syndicated Hit Radio Show The Breakfast Club with Charlamagne tha God, DJ Envy and Jess HilariousMay 21, 2026 7:30 AM
Business Wire The iconic morning show becomes Netflix’s first daily live program airing each weekday, featuring nearly three hours of uninterrupted show with exclusive content during breaks iHeartMedia, the No. 1 audio company in America, and Netflix today announced the next major milestone in their video podcast partnership: The Breakfast Club, one of the most influential and culturally resonant broadcast radio morning shows in the country, will now stream live daily on Netflix, marking an unprecedented evolution of the show – and the first daily live program airing each weekday for Netflix. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521524275/en/ Beginning June 1, The Breakfast Club, co-hosted by Charlamagne tha God, will air simultaneously as a live video show on Netflix each weekday, giving members nearly three hours of real-time access to the show’s unfiltered conversations, headline-driving interviews, and cultural commentary as it happens. While the radio broadcast will continue to include traditional commercial breaks, Netflix viewers will receive an enhanced, uninterrupted experience, with those breaks filled by exclusive bonus segments, behind-the-scenes moments, extended discussions and original content—resulting in nearly three continuous hours of programming each day. This expansion builds on iHeartMedia and Netflix’s previously announced exclusive video podcast collaboration, unveiled in December, and represents how audio-first franchises can thrive in a premium, video environment. “The Breakfast Club has always been at the center of culture, breaking artists, shaping conversations, and reflecting real life in real time,” said Bob Pittman, Chairman and CEO for iHeartMedia. “Taking this show live every day to a global audience on Netflix is a powerful example of how we’re expanding the reach of our biggest brands while giving audiences entirely new ways to experience them. Whether it’s morning in NYC or the afternoon in London, the conversation is live and reaching the world in real time.” “Do y’all understand what “Live Globally” really means? Mornings in New York. Daytime in the U.K. and Ghana. Evenings across other parts of the world,” said Charlamagne tha God. “The media landscape will always evolve, but one thing consistently cuts through: live programming. That’s a big reason The Breakfast Club has sustained its reign for so long. We’re building something powerful—real-time conversation, real community, on a global scale. The future belongs to those who can see what’s possible—and trust me, the vision for The Breakfast Club and Netflix is crystal clear.” With its live daily format, The Breakfast Club becomes one of the first shows of its kind on Netflix, showcasing the service’s growing investment in the podcast space and creator-driven programming. The show will continue to feature its current lineup of hosts—Charlamagne tha God, DJ Envy and Jess Hilarious—bringing their signature energy, authenticity and cultural authority to Netflix members around the globe. “The Breakfast Club has been a cultural staple for years, and we’re thrilled to make it our first daily live morning show on Netflix,” said Lauren Smith, Netflix VP of Content Licensing and Programming Strategy. "Every weekday, members can drop into nearly three hours of live, unfiltered conversation, plus exclusive moments they won’t hear anywhere else. It’s a big step forward in how we bring culturally defining audio-first franchises to life for Netflix audiences around the world, and we’re excited to deepen our partnership with iHeartMedia.” The morning program originates from iHeartMedia’s legendary Power 105.1/WWPR-FM in New York and will continue to be nationally syndicated by Premiere Networks on more than 100 broadcast radio stations nationwide and on the iHeartRadio app, with all audio-only rights and distribution continuing to be retained by iHeartMedia. The enhanced Netflix version offers an additive experience—designed specifically for viewers. Originally launched in 2010, The Breakfast Club has become the bullhorn for modern culture and is widely regarded as the most informative and entertaining top-rated contemporary Hip-Hop/R&B morning show today. Charlamagne Tha God and his co-hosts DJ Envy and Jess Hilarious are known for their unrivaled interviews with celebrities and recording artists. Esteemed guests who have appeared on the show include former President Barack Obama, former President Joe Biden, former Vice President Kamala Harris, Jay-Z, Cardi B, Kendrick Lamar, Kevin Hart, Snoop Dogg, Future, 50 Cent, Lizzo, Will Smith, Alicia Keys and many more. The crew also hosts “Weekends with The Breakfast Club,” a 3-hour weekly program featuring a countdown of the top 20 songs on the charts and signature interviews. Charlamagne Tha God and “The Breakfast Club” were inducted into the Radio Hall of Fame in 2020. About Netflix
Netflix is one of the world's leading entertainment services, with over 300 million paid memberships in over 190 countries enjoying TV series, films, and games across a wide variety of genres and languages. Members can play, pause, and resume watching as much as they want, anytime, anywhere, and can change their plans at any time. About iHeartMedia, Inc.
iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with nine out of ten Americans listening to iHeart broadcast radio in every month. iHeart's broadcast radio assets alone have a larger audience in the U.S. than any other media outlet and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to both Podtrac and Triton, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, has the highest-reach and most engaged influencers, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information. View source version on businesswire.com: https://www.businesswire.com/news/home/20260521524275/en/ Media contacts:
Angel Aristone
iHeartMedia
angelaristone@iheartmedia.com Dominic Pagone
Netflix
dpagone@netflix.com Original: iHeartMedia and Netflix Deepen Partnership with Daily Live Video Stream of Nationally Syndicated Hit Radio Show The Breakfast Club with Charlamagne tha God, DJ Envy and Jess Hilarious

iHeartRadio Named Official Audio and Radio Partner of the Beach Football LeagueMay 19, 2026 2:31 PM
PR Newswire (US) Multi-Event Partnership Expands Into 2027 With National Beach Football Experiences Planned Across New England, Miami, and Los AngelesNEWPORT, R.I., May 19, 2026 /PRNewswire/ -- The Beach Football League (BFL), the world's first professional tackle football league played on sand, today announced a strategic partnership with iHeartMedia, the leading audio company in America, naming iHeartRadio the league's Official Audio and Radio Partner for the 2026 season and beyond. The partnership will integrate iHeart's expansive live radio, digital, podcast, social, and live event platforms into the BFL's growing national footprint, supporting event promotion, fan engagement, entertainment programming, athlete storytelling, and community initiatives surrounding BFL events across the country.Founded by former NFL linebacker and two-time Super Bowl champion Tully Banta-Cain, the BFL combines professional tackle football on sand with music, celebrity appearances, youth camps, and festival-style beachfront entertainment experiences."We're excited to welcome iHeartRadio as the Official Audio and Radio Partner of the Beach Football League," said Tully Banta-Cain. "This partnership gives us the ability to grow the BFL nationally through the power of music, radio, digital media, and live experiences. We're building something completely unique that blends football, entertainment, and culture on the beach."The partnership officially launched alongside the BFL's California events, including the Santa Cruz Beach Classic, which took place May 16–17, 2026, and now continues into the upcoming Fiesta Hermosa Sunset Showdown on May 23, 2026.The Santa Cruz Beach Classic featured Marshawn Lynch, Deshaun Foster, a free youth football camp, a drone show, and a halftime performance by acclaimed Bay Area artist Goapele alongside Golden State Warriors official DJ DSharp. The Fiesta Hermosa Sunset Showdown will feature NFL legends, live DJs, youth programming, and a halftime performance by legendary hip-hop group The Pharcyde.The partnership is also expected to expand into 2027 as the BFL continues growing its national footprint with future destination events planned across New England during Labor Day Weekend, Miami during Art Basel Week, and Santa Monica during Super Bowl Week surrounding the 2027 Los Angeles Super Bowl.As part of the collaboration, iHeart branding and promotional support will be featured across BFL radio campaigns, live event integrations, social media content, digital advertising, and entertainment programming throughout the partnership.The Beach Football League continues to emerge as one of the most innovative live sports entertainment properties in the country, bringing together athletes, artists, creators, and fans through immersive beachside experiences focused on sports, music, and community engagement.For tickets, sponsorship opportunities, and event information, visit beachfootballleague.com.About the Beach Football League The Beach Football League (BFL) is the world's first professional tackle football league played on sand. Combining elite athletic competition with live entertainment, music, youth initiatives, and community engagement, the BFL delivers a one-of-a-kind sports and lifestyle experience on iconic beaches across the country.About iHeartMedia, Inc. iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with nine out of ten Americans listening to iHeart broadcast radio every month. iHeart's broadcast radio assets alone have a larger audience in the U.S. than any other media outlet and over four times the ad-enabled audience of the largest digital-only audio service. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services.Media Contact Beach Football League
TBC@BeachFootballLeague.com
beachfootballleague.com View original content to download multimedia:https://www.prnewswire.com/news-releases/iheartradio-named-official-audio-and-radio-partner-of-the-beach-football-league-302776667.htmlSOURCE Beach Football League Original: iHeartRadio Named Official Audio and Radio Partner of the Beach Football League

FOX Sports, iHeartMedia Bring FOX’S FIFA World Cup 2026™ Coverage to iHeart Audio Platforms This SummerMay 13, 2026 1:00 PM
Business Wire Fans Can Listen to All 104 Matches on iHeartRadio
Powered by FOX Sports Match Commentary FOX Sports, America’s English-language home for the FIFA World Cup 2026™ and the world’s top international soccer tournaments, and iHeartMedia, the #1 audio company in America, today announced FOX Sports’ thrilling network call of every FIFA World Cup 2026™ match will reach iHeartMedia’s leading sports audio audience across broadcast radio and digital streaming, beginning with the opening match on Thursday, June 11, through the FIFA World Cup 2026™ Final on Sunday, July 19. English-language broadcasts featuring the network’s television commentary of all 104 matches from the highly anticipated tournament will be provided by FOX Sports with all matches available at FIFA World Cup 2026 on the iHeartRadio app, iHeartMedia’s free all-in-one digital music, podcasting and live streaming radio service available across more than 500 platforms and over 2,000 devices. Additionally, match coverage including every U.S. Men’s National Team (USMNT) match and the FIFA World Cup 2026™ Final will be heard on more than 100 iHeart broadcast stations, including over 100 FOX Sports Radio affiliates, nationwide. iHeartRadio listeners will hear FOX Sports’ renowned roster of FIFA World Cup 2026™ analysts and broadcast teams anchoring match calls throughout the tournament as the world’s greatest sporting event takes place across 16 host cities in the United States, Canada and Mexico. “With the biggest FIFA World Cup™ in tournament history right around the corner and taking place across the country, we’re excited to work with iHeartMedia to extend our FOX Sports match commentary even further through the #1 audio company in America,” said Bill Wanger, Executive Vice President, Head of Programming and Scheduling, FOX Sports. “This summer’s World Cup will be the biggest yet, with more teams than ever competing as the U.S. Men’s National Team takes the global stage on home soil, and we’re thrilled to partner with FOX Sports to bring this monumental tournament to our combined audiences,” said Tom Poleman, Chief Programming Officer for iHeartMedia. “This partnership allows us to deliver complete, live coverage at an unprecedented scale, reaching fans wherever they are — at home, in the car or on the go — and connecting them to the passion and unforgettable moments of the World Cup.” iHeart’s play-by-play channels will bring fans closer to the excitement of every goal and thrilling finish as 48 teams compete across North America, including special coverage of USMNT games. The USMNT’s FIFA World Cup 2026™ road starts with their first Group D game on Friday, June 12 against Paraguay from Los Angeles at 9:00 PM ET and continues Friday, June 19 against Australia from Seattle at 3:00 PM ET and Thursday, June 25 against Türkiye at 10:00 PM ET. Every USMNT Group Stage match will air on FOX and feature special extended coverage. iHeart is home to dozens of original soccer-focused iHeartPodcasts hosted by renowned industry voices and notable players including Ashlyn Harris, Daniel Alarcón & John Green, Daniella Durán, Enrique Bermúdez, Javier “Chicharito” Hernández, John Windass & Tom Cairney, Jorge Ramos, Mattia Polibio, Sarah Spain, Tab Ramos and many more. Fans can find the full list of shows, available in both English and Spanish, HERE. From Thursday, June 11 through Sunday, July 19, FOX Sports will be America’s official English-language home for FIFA World Cup 2026™ presenting all 104 tournament matches live across FOX (70) and FS1 (34) with every match streaming in 4K live and on-demand on FOX One. FIFA World Cup 2026™ kicks off Thursday, June 11, on FOX beginning at 1:00 PM ET with a special, two-hour pregame show leading up to host nation Mexico vs. South Africa from Mexico City. The biggest-ever edition of the global showcase, FIFA World Cup 2026™ will be the first tournament hosted by three countries – United States, Mexico and Canada – with 48 teams playing 104 matches across 16 host cities. Eleven cities will be hosting the tournament in the U.S. including Atlanta, Boston, Dallas, Houston, Kansas City, Los Angeles, Miami, New York New Jersey, Philadelphia, Seattle and the San Francisco Bay Area. For more information about FIFA World Cup 2026™, visit FOX Sports Press Pass and follow @FOXSportsPR on X. - FOX SPORTS - About FOX Sports
FOX Sports is the umbrella entity representing Fox Corporation’s wide array of multi-platform US-based sports assets. Built with brands capable of reaching more than 100 million viewers in a single weekend, the business has ownership and interests in linear television networks, digital and mobile programming, broadband platforms, multiple web sites, joint-venture businesses and several licensing relationships. FOX Sports includes the sports television arm of the FOX Network; FS1, FS2, FOX Soccer Plus and FOX Deportes. FOX Sports’ digital properties include the FOX Sports App and FOXSports.com, which provides instant scores, stats and stories from across the sports world. Live streaming video of FOX Sports content is available via FOX One, Fox Corporation’s wholly owned, direct to consumer streaming service. Also included in FOX Sports’ portfolio are FOX’s interests in joint-venture businesses Big Ten Network and the UFL and a licensing agreement that established the FOX Sports Radio Network. About iHeartMedia
iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with nine out of ten Americans listening to iHeart broadcast radio in every month. iHeart’s broadcast radio assets alone have a larger audience in the U.S. than any other media outlet and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to both Podtrac and Triton, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, has the highest-reach and most engaged influencers, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information. View source version on businesswire.com: https://www.businesswire.com/news/home/20260513007438/en/ Eric Esteban
Eric.Esteban@fox.com Angel Aristone
angelaristone@iheartmedia.com Original: FOX Sports, iHeartMedia Bring FOX’S FIFA World Cup 2026™ Coverage to iHeart Audio Platforms This Summer

Trusted Voices and Smart Creative Redefine Audio’s Role in Driving Brand OutcomesApril 28, 2026 5:00 AM
Business Wire
New study from Omnicom Media Intelligence and iHeartMedia outlines how evolving audio formats deliver measurable full-funnel impact


A new Partner Intelligence study from Omnicom Media Intelligence - the research arm of global media management group Omnicom Media - and iHeartMedia finds that audio advertising is delivering measurable gains across awareness, trust, and conversion as innovations in format and creative are accelerating consumer action and deepening engagement.


The study - Turning Volume into Value: What New Audio Innovations Mean for Advertisers - is based on a controlled experimental design among more than 3,500 U.S. adults1 who listen to audio content weekly. It evaluates the effectiveness of standard audio ads alongside host-read, long-form, dynamic and interactive formats, providing marketers with a playbook for aligning audio strategy to specific business objectives.


With audio now accounting for roughly one-third of daily media consumption, the findings underscore its growing importance within the media mix and its ability to amplify performance across channels.


“Audio is one of the few channels that delivers both scale and intimacy,” said Lainie Fertick, President, iHeartMedia Insights. “When brands combine trusted human voices with thoughtful innovation, audio becomes a powerful driver of trust, engagement and accelerated purchase behavior.”


Audio delivers full-funnel impact - and amplifies other channels


Across formats, audio advertising drove significant lifts in core brand metrics, including a 22-point increase in unaided ad recall among in-market consumers, alongside gains in favorability (+5 points), search intent (+6 points), and purchase intent (+5 points). The research also highlights audio’s “multiplier effect,” demonstrating that exposure to audio ads improves responsiveness across social and digital channels, increasing engagement and branded search activity.


Trusted voices and long-form storytelling enhance credibility and accelerate conversion


Host-read ads emerged as particularly effective in building emotional connection and brand trust. Messages delivered by familiar or trusted voices generated stronger gains in brand relevance, search intent, and purchase intent than standard ads, reinforcing the influence of the listener-host relationship.


The study also found that trusted hosts accelerate decision-making. Exposure to host-read ads drove a 20-point lift in likelihood to purchase within a week, significantly outperforming standard ads.


Long-form host-read executions further amplified these effects. By allowing more time for storytelling, these formats delivered up to 2X higher recall than shorter ads and increased the likelihood of near-term purchase, making them especially effective for consideration and conversion objectives.


“Listeners develop real relationships with the voices they hear every day,” said Kara Manatt, EVP, Intelligence Solutions, Omnicom Media. “When brands tap into that credibility at scale, the impact is measurable - trusted voices don’t just influence perception, they drive action.”


Innovation in creative formats boosts relevance, engagement and action


Emerging formats are also expanding what audio can do for brands. Dynamic ads tailored to context - such as time of day or listener environment - improved perceived relevance (80% vs. 73% for standard ads) and delivered stronger lifts in search intent.


Interactive motion-activated units, which prompt listeners to engage directly, proved especially effective among younger and in-market audiences, generating incremental gains in both search and purchase intent. These formats transform passive listening into active participation, helping brands convert high-intent consumers more efficiently.


Beyond individual tactics, the study emphasizes the importance of sequencing formats strategically. Combining trusted host-read ads with dynamic and interactive elements enables brands to guide consumers from awareness through to action within a cohesive audio strategy.


The full report can be accessed here.


About iHeartMedia


iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with nine out of ten Americans listening to iHeart broadcast radio in every month. iHeart’s broadcast radio assets alone have a larger audience in the U.S. than any other media outlet and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to both Podtrac and Triton, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, has the highest-reach and most engaged influencers, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products, and services. Visit iHeartMedia.com for more company information.


About Omnicom Media


Omnicom Media, an Omnicom (NYSE: OMC) Connected Capability, is the world’s largest global media management network. Powered by the Omni Intelligence Platform, Omnicom Media agencies leverage $73.5 billion in billings, 40,000+ specialists across 70+ markets, and the industry’s most powerful portfolio of Identity (Acxiom RealID™), Commerce (Flywheel), and Intelligence (Q™) assets to design dynamic Growth Ecosystems that enable the world’s most ambitious businesses to grow faster and smarter. The Omnicom Media portfolio includes leading global media agency brands OMD, Initiative, PHD, UM, Hearts & Science, and Mediahub; Data, Identity & Analytics powerhouses Acxiom, and Annalect; and a broad spectrum of specialized services. For more information visit omnicommedia.com.


1 The research was conducted among U.S. adults aged 18+ who listen to audio content at least weekly. Participants were randomly assigned to control and exposed groups, with real-world ad experiences followed by brand lift surveys to measure impact across key performance indicators.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260428524096/en/
Press Contacts:


Angel Aristone

iHeartMedia

angelaristone@iheartmedia.com


Suzette Meade

Omnicom Media

suzette.meade@omc.com


Original: Trusted Voices and Smart Creative Redefine Audio’s Role in Driving Brand Outcomes

IHRT......................................a/h

iHeartMedia, Inc. to Report Quarterly Financial Results on May 11, 2026April 22, 2026 4:30 PM
Business Wire
iHeartMedia, Inc. (NASDAQ: IHRT) announced today that on Monday May 11th, 2026, it will issue financial results for the quarter ending March 31, 2026. The company will conduct a conference call at 4:30 p.m. (ET), following the release of its earnings announcement, to discuss its financial results and business outlook.


A live audio webcast of the call will be available on the Investors homepage of iHeartMedia’s website (https://investors.iheartmedia.com/) beginning at 4:30 p.m. (ET) on May 11th. The conference call can also be accessed by dialing (888) 596-4144 (domestic) or +1 646 968-2525 (international) using PIN number 8885116 followed by # key. Please call at least five minutes in advance to ensure that you are connected prior to the call.


An audio replay of the call will be available beginning at 7:30 p.m. (ET) on May 11th in the Events & Presentations section of iHeartMedia’s Investors home page, and at (800) 770-2030 (domestic) or +1 609 800-9909 (international) using PIN number 8885116 followed by # key. The audio replay will be available for a period of thirty days.


The earnings release and any other information related to the call will be accessible on the Investors home page of iHeartMedia’s website.


About iHeartMedia, Inc.


iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, reaching over 250 million people each month. It is number one in both broadcast and digital streaming radio as well as podcasting and audio ad tech, and includes three business segments: The iHeartMedia Multiplatform Group; the iHeartMedia Digital Audio Group; and the Audio and Media Services Group. Visit iHeartMedia.com for more company information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422416194/en/
Wendy Goldberg

Chief Communications Officer

(212) 377-1105

WendyGoldberg@iheartmedia.com


Andrey Hart

SVP of Investor Relations

(703) 956-0115

AndreyHart@iheartmedia.com


Original: iHeartMedia, Inc. to Report Quarterly Financial Results on May 11, 2026

IHRT..............................https://stockcharts.com/sc3/ui/?s=IHRT&p=w&b=5&g=0&id=p86431144783

The 2026 iHeartRadio Music Awards Airing Thursday, March 26 on FOX to Feature Performances by Alex Warren, Lainey Wilson, Ludacris, RAYE, TLC, En Vogue, Salt-N-Pepa and More Live from Dolby Theatre in Los AngelesMarch 11, 2026 6:00 PM
Business Wire
Ludacris to host this year’s award show and also receive the 2026 iHeartRadio Landmark Award


Miley Cyrus to be honored with the 2026 iHeartRadio Innovator Award


Alex Warren to receive the 2026 iHeartRadio Breakthrough Artist of the Year Award


iHeartMedia and FOX Entertainment today announced that the 2026 iHeartRadio Music Awards will feature performances by Alex Warren, Lainey Wilson, Ludacris, RAYE, and performing for the first time together TLC, Salt-N-Pepa and En Vogue. Ludacris will host the annual event and also receive the 2026 iHeartRadio Landmark Award. Additionally, Miley Cyrus will be honored with the 2026 iHeartRadio Innovator Award and Alex Warren will receive the 2026 iHeartRadio Breakthrough Artist of the Year Award. The 2026 iHeartRadio Music Awards airs LIVE from Dolby Theatre in Los Angeles, Thursday, March 26 (8:00-10:00 p.m. ET live / PT tape-delayed) on FOX and will also be heard on iHeartRadio stations nationwide and on the iHeartRadio app.


In addition to hosting and performing, Ludacris will receive the 2026 iHeartRadio Landmark Award, which honors artists whose portfolio has shaped culture across multiple decades. A pioneering force in hip-hop, Ludacris broke through with his major label debut album Back for the First Time (2000) which established him as a mainstream star. He went on to deliver multi-platinum albums including Word of Mouf (2001), Chicken-n-Beer (2003) and The Red Light District (2004), solidifying his place as one of the defining artists of the 2000s. Over the course of his career, he has earned three Grammy Awards and expanded his cultural impact through acclaimed acting roles, including his long-running role as Tej Parker in the Fast & Furious franchise. With 17 million albums sold in the U.S. and 24 million records sold worldwide, Ludacris remains one of hip-hop’s most successful and influential artists. This performance also marks a celebratory moment as he launches into his next chapter of worldwide touring.


“I’m excited to return as host of the iHeartRadio Music Awards to celebrate and perform alongside some of the best in the industry,” said Ludacris. “It’s going to be a night with special performances and surprise moments fans are going to love.”


Each year the iHeartRadio Innovator Award is presented to an artist who has impacted both music and global culture throughout their career, and this year’s recipient is Miley Cyrus. From her groundbreaking role 20 years ago in Hannah Montana, a cultural phenomenon that continues to shape and inspire generations, to her evolution into one of the most fearless, dynamic and influential voices in music today, Miley’s impact on pop culture is undeniable. Beyond her artistry, Miley’s humanitarian work has made a profound impact. Through the Miley Cyrus Foundation, and the launch of Happy Hippie, she has been a powerful advocate for homeless and at-risk youth, especially teens facing housing insecurity. Her efforts have helped amplify vulnerable voices, provide essential resources and build community for young people who need it most. Past recipients of the iHeartRadio Innovator Award include Beyoncé, Taylor Swift, Pharrell Williams, Bruno Mars, U2, Alicia Keys and Lady Gaga.


Alex Warren will be honored with the 2026 iHeartRadio Breakthrough Artist of the Year Award, celebrating his remarkable rise and record-shattering achievements. Over the past year, Alex has emerged as one of the most impactful new voices in pop music, with his emotional songwriting and powerful performances resonating across generations. His success reached historic heights as he shattered all-time Mediabase chart records, spending 16 weeks at No.1 on Top 40 and 29 weeks at No.1 on Hot AC, cementing his place among the most dominant radio artists of the modern era. Alex has built a deeply loyal fanbase, and his influence continues to grow as he uses his platform to foster community, connection and emotional openness among fans. This award recognizes Alex’s extraordinary trajectory, undeniable talent and the uniquely powerful bond he’s created with listeners around the world.


The 13th annual iHeartRadio Music Awards will celebrate the most-played artists and songs on iHeartRadio stations and the iHeartRadio app throughout 2025, while also offering a preview of the upcoming hits of 2026. The show will feature award presentations in multiple categories, live performances from the biggest artists in music, surprise guests and collaborations, and will showcase the stories of the winning artists’ road to No.1.


Artists receiving several nominations include Alex Warren, Bad Bunny, Benson Boone, BLACKPINK, Chris Brown, Ed Sheeran, Ella Langley, GloRilla, Grupo Frontera, HUNTR/X: EJAE, AUDREY NUNA, REI AMI, Jelly Roll, JENNIE, j-hope, KATSEYE, Kendrick Lamar, Lady Gaga, Leon Thomas, Linkin Park, LISA, Mariah the Scientist, MOLIY, Morgan Wallen, Myles Smith, RAYE, ROSÉ, Sabrina Carpenter, Shinedown, sombr, SZA, Tate McRae, Taylor Swift, Twenty One Pilots and Zara Larsson.


In addition to paying tribute to music and artists, the 2026 iHeartRadio Music Awards will again celebrate the fans, giving iHeartRadio listeners the opportunity to decide winners in several new and established categories. Fan voting will determine this year’s Favorite Broadway Debut, Favorite TikTok Dance, Favorite Debut Album, Best Lyrics, Best Music Video, Favorite On Screen, Favorite Tour Photographer, Favorite Soundtrack, Favorite Tour Style, Favorite Tour Tradition and Favorite K-pop Collab. Social voting will close on March 19 at 11:59 p.m. PT for all categories. Fans can vote by visiting iHeartRadio.com/awards.


Additional categories include Label of the Year and individual winners for Album of the Year in music’s biggest genres, including pop, country, alternative, rock, dance, hip-hop, R&B, Latin and regional Mexican formats.


For a full list of categories, visit iHeartRadio.com/awards.


Executive producers for the iHeartRadio Music Awards are Jesse Collins, Dionne Harmon and Jeannaé Rouzan-Clay for Jesse Collins Entertainment (JCE); John Sykes, Tom Poleman and Bart Peters for iHeartMedia; and FOX Entertainment Studios.


Proud partners of this year’s event include She Rises Studios, with more to be announced.


Artists and/or events subject to change or cancellation without notice.


About iHeartMedia, Inc.


iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with nine out of ten Americans listening to iHeart broadcast radio in every month. iHeart’s broadcast radio assets alone have a larger audience in the U.S. than any other media outlet and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to both Podtrac and Triton, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, has the highest-reach and most engaged influencers, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information.


About FOX Entertainment


With a legacy spanning nearly 40 years, FOX Entertainment is one of the world’s most recognizable media brands and a prolific content producer across its iconic broadcast network and both owned and third-party platforms worldwide. Known for its independent, innovative spirit and provocative, groundbreaking storytelling, the company includes three key business units: FOX Television Network, FOX Entertainment Studios and worldwide content sales and licensing unit FOX Entertainment Global.


While maintaining its leadership in linear television with an exceptional slate of original series – including Doc, Extracted, Memory of a Killer, The Masked Singer, The Floor, The Simpsons, Animal Control, Going Dutch, Murder in a Small Town, Hell’s Kitchen and LEGO Masters – FOX Entertainment is growing its portfolio of studio engines, business operations and library of owned original content.


To date, the FOX Entertainment Studios division includes its in-house unscripted studio with hits The Masked Singer, I Can See Your Voice and Name That Tune, and scripted content studio featuring comedies Animal Control and Going Dutch and signature drama series Best Medicine, The Faithful, The Way Home and The Chicken Sisters. The unit also oversees the award-winning animation studio Bento Box Entertainment with animated comedies including Krapopolis, Grimsburg, Hazbin Hotel and Universal Basic Guys; entertainment platform TMZ with its tentpole primetime series TMZ Investigates; its new independent film label Tideline Entertainment with inaugural releases including First Time Female Director, Ponyboi and Slanted; and the culinary and lifestyle content venture Studio Ramsay Global in partnership with iconic chef Gordon Ramsay, featuring food-themed original series on FOX such as Next Level Chef, Kitchen Nightmares and Gordon Ramsay’s Secret Service, as well as the new next-gen global food brand and entertainment platform Bite, No Taste Like Home on Disney+, Knife Edge: Chasing Michelin Stars on Apple+ and a new untitled Gordon Ramsay documentary series on Netflix in early 2026.


As a global content creator and production partner, FOX Entertainment Studios collaborates with studios and platforms worldwide, including Disney, Hulu, Warner Bros. Discovery, Sony Pictures Television, Prime Video, Netflix, Apple+, Hallmark, Lifetime, TelevisaUnivision, UK’s Channel 4, France’s TF1, German’s ProSieben, Canadian Broadcasting Corporation, Australia’s Foxtel and FOX-owned streamer Tubi, among others.


About Jesse Collins Entertainment


Founded in 2012, Jesse Collins Entertainment (JCE) is a full-service Emmy winning production company that has played an integral role in producing many of television's most memorable moments in music entertainment. JCE's award-winning and critically acclaimed television includes programming from its four divisions—specials, sports, scripted and unscripted. From the specials division: award shows—The Emmy Awards, The 2021 and 2022 American Music Awards, The 2022 Golden Globes, BET Awards, Soul Train Awards, BET Hip Hop Awards, Black Girls Rock!, BET Honors, UNCF's An Evening of Stars and ABFF Honors; specials—Jimmy Fallon's Holiday Seasoning Spectacular, Christmas in Rockefeller Center, The Light We Carry: Michelle Obama & Oprah Winfrey (Primetime Emmy Award nominee), A GRAMMY Salute to 50 Years of Hip Hop, Lil Rel Howery: I said it. Y'all thinking it., CNN's Juneteenth: A Global Celebration of Freedom, Martin: The Reunion, John Lewis: Celebrating A Hero, Love & Happiness: An Obama Celebration, Change Together: From The March On Washington To Today, A GRAMMY Salute to the Sounds of Change, Stand Up for Heroes, Dear Mama, Amanda Seales: I Be Knowin', Def Comedy Jam 25, Leslie Jones: Time Machine, The All-Star Nickmas Spectacular and Rip the Runway. From the sports division: Beyoncé Bowl at the Baltimore Ravens vs. Houston Texans NFL 2024 Christmas Game (Primetime Emmy Award winner), The Super Bowl Halftime Show (Primetime Emmy Award winner), The 95th Major League Baseball All-Star Game Pre-Game Show, The 2025 World Series Game 1 Anthem, NFL Detroit Lions Thanksgiving Day Halftime Show starring Jack White and Netflix’s Snoop’s Holiday Halftime Party. From the scripted division: scripted series—Real Husbands of Hollywood, American Soul and miniseries—The New Edition Story and The Bobby Brown Story. From the unscripted division: unscripted series – Heart & Hustle: Houston, Tia Mowry: My Next Act, Gabrielle Union: My Journey to 50, Oh Hell No! With Marlon Wayans, Cardi Tries, My Killer Body with K. Michelle, DJ Cassidy's Pass the Mic and Forward: The Future of Black Music, competition series—Hollywood Squares, Rhythm + Flow, Celebrity Squares, Becoming A Popstar, Sunday Best, Hip Hop Squares and Nashville Squares, talk shows – We Got Time Today, Yara Shahidi's Day Off and Face to Face with Becky G, and children's series—Bookmarks: Celebrating Black Voices (Daytime Emmy Award winner). Emmy Award winner Jesse Collins is the Founder & CEO of Jesse Collins Entertainment and executive producer of all JCE programming. He is also an executive producer for the annual GRAMMY Awards and produced the 2021 Oscars. Emmy winner Dionne Harmon is President. Emmy nominee Jeannae Rouzan-Clay is Senior Vice President of Specials.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311108858/en/
iHeartMedia

Angel Aristone

angelaristone@iheartmedia.com    

Peyton Webb

peytonwebb@iheartmedia.com


Original: The 2026 iHeartRadio Music Awards Airing Thursday, March 26 on FOX to Feature Performances by Alex Warren, Lainey Wilson, Ludacris, RAYE, TLC, En Vogue, Salt-N-Pepa and More Live from Dolby Theatre in Los Angeles

iHeartmedia, Inc. Reports Results for 2025 Fourth Quarter and Full YearMarch 2, 2026 4:00 PM
Business Wire
iHeartMedia, Inc. (Nasdaq: IHRT) today reported financial results for the quarter and year ended December 31, 2025.


Financial Highlights:1


Q4 2025 Consolidated Results



Q4 Revenue of $1,127 million, up 0.8% (Excluding Q4 Political Revenue, Q4 Revenue up 7.7%)



GAAP Operating income of $86 million, compared to a GAAP Operating income of $105 million in Q4 2024, down 18.0%



Consolidated Adjusted EBITDA of $220 million, compared to $246 million in Q4 2024, down 10.5%



Cash provided by operating activities of $156 million



Free Cash Flow of $138 million, Free Cash Flow including net proceeds from real estate sales of $158 million



Cash balance and total available liquidity2 of $271 million and $640 million, respectively, as of December 31, 2025



Q4 2025 Digital Audio Group Results



Digital Audio Group Revenue of $387 million up 14%


Podcast Revenue of $174 million up 24%



Digital Revenue excluding Podcast of $213 million up 7%






Segment Adjusted EBITDA of $132 million up 11%


Digital Audio Group Adjusted EBITDA margin of 34.1%






Q4 2025 Multiplatform Group Results



Multiplatform Group Revenue of $665 million down 3%


Excluding Multiplatform Group Q4 Political Revenue, Multiplatform Group Q4 Revenue up 2%






Segment Adjusted EBITDA of $129 million down 14%


Multiplatform Group Adjusted EBITDA margin of 19.4%






Full Year 2026 Guidance



Consolidated Adjusted EBITDA3 expected to be approximately $800 million



Free Cash Flow of approximately $200 million



Projected in year cost savings of $100 million, inclusive of additional $50 million announced today



Total Programmatic Revenue of approximately $200 million, up approximately 50%



Year End 2026 Net Debt to Adjusted EBITDA ("net leverage")4 to be in mid-fives



Q1 2026 Guidance



Consolidated Revenue expected to increase high-single digits



Consolidated Adjusted EBITDA3 expected to be approximately $100 million




_____________________________________



1 Unless otherwise noted, all results are based on year over year comparisons.








2 Total available liquidity is defined as cash and cash equivalents plus available borrowings under our ABL Facility. We use total available liquidity to evaluate our capacity to access cash to meet obligations and fund operations.








3 A full reconciliation of forecasted Adjusted EBITDA, Free Cash Flow or net leverage on a non-GAAP basis to the respective most-directly comparable GAAP metrics cannot be provided without unreasonable efforts due to the inherent difficulty in forecasting and quantifying with reasonable accuracy significant items required for the reconciliations, including gains or losses on investments, extinguishment of debt, equity in nonconsolidated affiliates, impairment charges, stock based compensation, restructuring, and the Company’s cash and cash equivalents balance and Net cash provided by operating activities.








4 We define Net Debt as Total Debt less Cash and cash equivalents and Debt Premium.







Full Year 2025 Highlights5



Revenue of $3,865 million, flat YoY, up 3.6% excluding political


Digital Audio Group Revenue up 14%


Podcast Revenue up 26%



Digital Revenue excluding Podcast up 7%






Multiplatform Group Revenue down 4%


Excluding Multiplatform Group Political Revenue, Multiplatform Group Revenue down 2%









GAAP Operating loss of $21 million improved from GAAP Operating loss of $763 million in the year ended December 31, 2024 primarily due to the $923 million of non-cash impairment charges recorded in 2024 related to our goodwill and indefinite-lived intangible assets balances compared to the $213.9 million of non-cash impairment charges primarily related to our FCC licenses recorded in 2025



Consolidated Adjusted EBITDA of $686 million, down from $706 million in the year ended December 31, 2024



Cash provided by operating activities of $93 million



Free Cash Flow of $11 million; Free Cash Flow including net proceeds from real estate sales of $31 million




_____________________________________



5 Unless otherwise noted, all results are based on year over year comparisons.







Statement from Senior Management


“We’re pleased with our fourth quarter results, generating Adjusted EBITDA of $220 million, at the midpoint of our previously provided guidance range, and our consolidated revenue was $1.1 billion, up 0.8% compared to prior year and above our guidance; excluding the impact of political, our consolidated revenue was up 7.7%,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “Our podcast momentum continues, growing 24.5% compared to prior year, above our guidance of ‘up in the mid-teens,’ and we have the number one audience in podcasting as measured by both Podtrac and Triton. In 2026 a major goal of ours is to return the Multiplatform Group to segment Adjusted EBITDA growth and we continue to invest in our broadcast programmatic efforts and working with partners like Amazon DSP, Yahoo! DSP and other to include our broadcast radio inventory on their programmatic platforms. We also see some of our recent announcements as validation of the power of broadcast radio, with companies like Netflix and TikTok coming to partner with us and our broadcast radio assets.”


“In the fourth quarter, the Digital Audio Group’s revenue was $387 million, up 14.1% year over year and above our guidance, segment Adjusted EBITDA was $132 million, up 10.7% year over year, and our Q4 Adjusted EBITDA margins were 34.1%. The Multiplatform Group’s revenue was $665 million, down 2.8% compared with prior year and in line with our guidance; the Multiplatform Group’s Adjusted EBITDA was $129 million,” said Rich Bressler, President and COO of iHeartMedia, Inc. “In Q4 our Free Cash Flow including net proceeds from real estate sales was $158 million and we converted approximately 70% of our Adjusted EBITDA into this Free Cash Flow, which demonstrates the company’s high Free Cash Flow conversion characteristics and gives us confidence in our ability to generate meaningful Free Cash Flow in 2026 and thereafter. We are looking forward to 2026 to be an Adjusted EBITDA and Free Cash Flow growth year for iHeart, driven by our strong podcasting momentum, our growing programmatic revenues and the return of the Multiplatform Group to segment Adjusted EBITDA growth.”


Consolidated Results of Operations


Fourth Quarter 2025 Consolidated Results


Our consolidated revenue increased $9.0 million, or 0.8%, during the three months ended December 31, 2025 compared to the same period of 2024. Digital Audio revenue increased $47.7 million, or 14.1%, driven primarily by continuing increases in demand for digital and podcast advertising, as well as increased non-cash trade revenue resulting from strategic marketing initiatives. Multiplatform Group revenue decreased $19.2 million, or 2.8%, primarily resulting from lower political revenues, as 2024 was a presidential election year, as well as a decrease in broadcast advertising in connection with continued uncertain market conditions, partially offset by an increase in non-cash trade revenue resulting from strategic marketing initiatives. Audio & Media Services revenue decreased $18.9 million, or 19.3%, primarily as a result of lower political revenues at Katz Media, as 2024 was a presidential election year.


Consolidated direct operating expenses increased $11.0 million, or 2.4%, during the three months ended December 31, 2025 compared to the same period of 2024. The increase was primarily driven by higher variable content costs, including higher third-party digital costs related to the increase in digital revenues, partially offset by lower employee compensation cost in connection with modernization initiatives taken in 2024 and 2025.


Consolidated Selling, General & Administrative ("SG&A") expenses increased $21.2 million, or 4.6%, during the three months ended December 31, 2025 compared to the same period of 2024. The increase was driven primarily by increases in non-cash trade and barter expense related to strategic marketing initiatives and cash-settled share-based compensation expense driven by the increase in our stock price, partially offset by a decrease in costs incurred in connection with executing on our cost savings initiatives, including decreased employee compensation cost due to our modernization initiatives, and lower sales commissions related to the decline in broadcast revenue.


Our consolidated GAAP Operating income was $85.7 million compared to GAAP Operating income of $104.5 million in the fourth quarter of 2024.


Adjusted EBITDA decreased to $220.3 million from $246.2 million in the fourth quarter of 2024.


Cash provided by operating activities was $156.3 million, compared to cash provided by operating activities $1.2 million in the prior year period primarily due to the timing of interest payments as accrued interest was paid in the fourth quarter of 2024 upon closing of the debt exchange transaction that would have been paid in 2025 under the old debt terms and an increase in deferred revenues based on the timing of payments received, partially offset by the decrease in political revenues. Free Cash Flow was $137.6 million, compared to ($24.2) million in the prior year period.


Business Segments: Results of Operations


Fourth Quarter 2025 Multiplatform Group Results




(In thousands)






Three Months Ended

December 31,






 






%






 






Year Ended

December 31,






 






%








 






 






2025






 






 






 






2024






 






 






Change






 






 






2025






 






 






 






2024






 






 






Change








Revenue






$






664,766






 






 






$






683,995






 






 






(2.8






)%






 






$






2,273,549






 






 






$






2,372,909






 






 






(4.2






)%








Operating expenses1






 






536,069






 






 






 






534,046






 






 






0.4






%






 






 






1,859,329






 






 






 






1,911,643






 






 






(2.7






)%








Segment Adjusted EBITDA






$






128,697






 






 






$






149,949






 






 






(14.2






)%






 






$






414,220






 






 






$






461,266






 






 






(10.2






)%








Segment Adjusted EBITDA margin






 






19.4






%






 






 






21.9






%






 






 






 






 






18.2






%






 






 






19.4






%






 






 









1







Operating expenses consist of Direct operating expenses and SG&A expenses, excluding Restructuring expenses.







Revenue from our Multiplatform Group was down $19.2 million, or 2.8% YoY, primarily due to lower political revenues, as 2024 was a presidential election year, as well as a decrease in broadcast advertising in connection with continued uncertain market conditions, partially offset by an increase in non-cash trade revenue resulting from strategic marketing initiatives. Broadcast revenue decreased $23.4 million, or 4.8% YoY, driven by lower spot revenue. Networks increased $4.9 million, or 4.4% YoY. Revenue from Sponsorship and Events increased $1.3 million, or 1.9% YoY.


Operating expenses increased $2.0 million, or 0.4% YoY, driven primarily by higher trade and barter expenses, partially offset by lower sales commissions related to the decline in broadcast revenue, as well as a decrease in employee compensation cost due to our modernization initiatives.


Segment Adjusted EBITDA Margin decreased YoY to 19.4% from 21.9%.


Fourth Quarter 2025 Digital Audio Group Results




(In thousands)






Three Months Ended

December 31,






 






%






 






Year Ended

December 31,






 






%








 






 






2025






 






 






 






2024






 






 






Change






 






 






2025






 






 






 






2024






 






 






Change








Revenue






$






386,588






 






 






$






338,892






 






 






14.1






%






 






$






1,329,422






 






 






$






1,164,515






 






 






14.2






%








Operating expenses1






 






254,896






 






 






 






219,955






 






 






15.9






%






 






 






872,731






 






 






 






785,575






 






 






11.1






%








Segment Adjusted EBITDA






$






131,692






 






 






$






118,937






 






 






10.7






%






 






$






456,691






 






 






$






378,940






 






 






20.5






%








Segment Adjusted EBITDA margin






 






34.1






%






 






 






35.1






%






 






 






 






 






34.4






%






 






 






32.5






%






 






 









1







Operating expenses consist of Direct operating expenses and SG&A expenses, excluding Restructuring expenses.







Revenue from our Digital Audio Group increased $47.7 million, or 14.1% YoY, driven by Podcast revenue, which increased $34.1 million, or 24.5% YoY, to $173.7 million, primarily due to a continued increase in demand for podcasting from advertisers, and Digital, excluding Podcast revenue, which increased $13.6 million, or 6.8% YoY, to $212.9 million, primarily due to an increase in demand for digital advertising, as well as increased non-cash trade revenue resulting from strategic marketing initiatives.


Operating expenses increased $34.9 million, or 15.9% YoY, primarily driven by higher variable content costs, including third-party digital costs related to the increase in revenues, and higher non-cash trade expense.


Segment Adjusted EBITDA Margin decreased YoY to 34.1% from 35.1%.


Fourth Quarter 2025 Audio & Media Services Group Results




(In thousands)






Three Months Ended

December 31,






 






%






 






Year Ended

December 31,






 






%








 






 






2025






 






 






 






2024






 






 






Change






 






 






2025






 






 






 






2024






 






 






Change








Revenue






$






78,881






 






 






$






97,755






 






 






(19.3






)%






 






$






272,545






 






 






$






327,055






 






 






(16.7






)%








Operating expenses1






 






47,557






 






 






 






49,034






 






 






(3.0






)%






 






 






179,117






 






 






 






186,381






 






 






(3.9






)%








Segment Adjusted EBITDA






$






31,324






 






 






$






48,721






 






 






(35.7






)%






 






$






93,428






 






 






$






140,674






 






 






(33.6






)%








Segment Adjusted EBITDA margin






 






39.7






%






 






 






49.8






%






 






 






 






 






34.3






%






 






 






43.0






%






 






 









1







Operating expenses consist of Direct operating expenses and SG&A expenses, excluding Restructuring expenses.







Revenue from our Audio & Media Services Group decreased $18.9 million, or 19.3% YoY, primarily due to lower political revenues as 2024 was a presidential election year, as well as a decrease in broadcast advertising in connection with uncertain market conditions, partially offset by an increase in digital revenues.


Operating expenses decreased $1.5 million, or 3.0% YoY, due to a decrease in employee compensation cost due to our modernization initiatives.


Segment Adjusted EBITDA Margin decreased YoY to 39.7% from 49.8%.


GAAP and Non-GAAP Measures: Consolidated




(In thousands)






Three Months Ended

December 31,






 






Year Ended

December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Revenue






$






1,127,227






 






 






$






1,118,269






 






 






$






3,864,991






 






 






$






3,854,532






 








Operating income (loss)






 






85,701






 






 






 






104,547






 






 






 






(20,640






)






 






 






(763,108






)








Adjusted EBITDA1






 






220,298






 






 






 






246,208






 






 






 






685,767






 






 






 






705,617






 








Net income (loss)






 






(41,255






)






 






 






31,928






 






 






 






(471,887






)






 






 






(1,009,494






)








Cash provided by operating activities2






 






156,255






 






 






 






1,212






 






 






 






92,583






 






 






 






71,429






 








Free cash flow1






 






137,576






 






 






 






(24,208






)






 






 






10,911






 






 






 






(26,165






)








Free cash flow including net proceeds from real estate sales1






 






157,575






 






 






 






(24,208






)






 






 






30,910






 






 






 






(25,955






)








Free cash flow excluding the impacts of the Debt Exchange Transaction1,3






 






157,575






 






 






 






111,083






 






 






 






30,910






 






 






 






109,336






 








_________________________________



 







1.







See the end of this press release for reconciliations of (i) Adjusted EBITDA to Operating income (loss), (ii) Adjusted EBITDA to Net income (loss), (iii) Free Cash Flow, Free cash flow including net proceeds from real estate sales, and Free cash flow excluding the impacts of the Debt Exchange Transaction to Cash provided by operating activities, and (iv) revenue, excluding political advertising revenue, to revenue. See also the definitions of Adjusted EBITDA, Free Cash Flow, Free cash flow including net proceeds from real estate sales, Free cash flow excluding the impacts of the Debt Exchange Transaction, Adjusted EBITDA margin, and Net Debt under the Supplemental Disclosure Regarding Non-GAAP Financial Information section in this release.








 







2.







We made cash interest payments of $82.7 million in the three months ended December 31, 2025, compared to $125.6 million in the three months ended December 31, 2024. The decrease is primarily due to the timing of interest payments as accrued interest was paid in the fourth quarter of 2024 upon closing of the debt exchange transaction that would have been paid in 2025 under the old debt terms.








 







3.







We completed the Debt Exchange Transaction in the fourth quarter of 2024 which resulted in $89 million of Debt Exchange Transaction fees and $46.3 million of cash paid for accrued interest that would have been paid in 2025 under the old debt terms.







Certain prior period amounts have been reclassified to conform to the 2025 presentation of financial information throughout the press release.


Liquidity and Financial Position


As of December 31, 2025, we had $270.9 million of cash on our balance sheet. For the year ended December 31, 2025, cash provided by operating activities was $92.6 million, cash used for investing activities was $66.2 million and cash used for financing activities was $15.3 million.


Capital expenditures for the year ended December 31, 2025 were $81.7 million compared to $97.6 million for the year ended December 31, 2024.


As of December 31, 2025, the Company had $5,053.1 million of total debt and $4,540.0 million of Net Debt1.


Cash balance and total available liquidity2 were $270.9 million and $639.8 million, respectively, as of December 31, 2025 which reflects the $50.0 million of outstanding borrowings under our ABL facility.



_____________________________________



1 We define Net Debt as Total Debt less Cash and cash equivalents and Debt Premium.








2 Total available liquidity is defined as cash and cash equivalents plus available borrowings under our ABL Facility. We use total available liquidity to evaluate our capacity to access cash to meet obligations and fund operations.







Revenue Streams


The tables below present the comparison of our historical revenue streams (including political revenue) for the periods presented:




(In thousands)






Three Months Ended

December 31,






 






%






 






Year Ended

December 31,






 






%








 






 






2025






 






 






 






2024






 






 






Change






 






 






2025






 






 






 






2024






 






 






Change








Broadcast Radio






$






469,854






 






 






$






493,298






 






 






(4.8






)%






 






$






1,633,403






 






 






$






1,726,934






 






 






(5.4






)%








Networks






 






118,221






 






 






 






113,260






 






 






4.4






%






 






 






439,770






 






 






 






437,212






 






 






0.6






%








Sponsorship and Events






 






71,405






 






 






 






70,065






 






 






1.9






%






 






 






182,015






 






 






 






187,344






 






 






(2.8






)%








Other






 






5,286






 






 






 






7,372






 






 






(28.3






)%






 






 






18,361






 






 






 






21,419






 






 






(14.3






)%








Multiplatform Group






 






664,766






 






 






 






683,995






 






 






(2.8






)%






 






 






2,273,549






 






 






 






2,372,909






 






 






(4.2






)%








Digital ex. Podcast






 






212,869






 






 






 






199,303






 






 






6.8






%






 






 






765,698






 






 






 






715,736






 






 






7.0






%








Podcast






 






173,719






 






 






 






139,589






 






 






24.5






%






 






 






563,724






 






 






 






448,779






 






 






25.6






%








Digital Audio Group






 






386,588






 






 






 






338,892






 






 






14.1






%






 






 






1,329,422






 






 






 






1,164,515






 






 






14.2






%








Audio & Media Services Group






 






78,881






 






 






 






97,755






 






 






(19.3






)%






 






 






272,545






 






 






 






327,055






 






 






(16.7






)%








Eliminations






 






(3,008






)






 






 






(2,373






)






 






 






 






 






(10,525






)






 






 






(9,947






)






 






 








Revenue, total






$






1,127,227






 






 






$






1,118,269






 






 






0.8






%






 






$






3,864,991






 






 






$






3,854,532






 






 






0.3






%







Conference Call


iHeartMedia, Inc. will host a conference call to discuss results and business outlook on March 2, 2026, at 4:30 p.m. Eastern Time. The conference call number is (888) 596-4144 (U.S. callers) and +1 (646) 968-2525 (International callers) and the passcode for both is 8885116. A live audio webcast of the conference call will also be available on the Investors homepage of iHeartMedia's website investors.iheartmedia.com. After the live conference call, a replay will be available for a period of thirty days. The replay numbers are (800) 770-2030 (U.S. callers) and +1 (609) 800-9909 (International callers) and the passcode for both is 8885116. An archive of the webcast will be available beginning 24 hours after the call for a period of thirty days.


About iHeartMedia, Inc.


iHeartMedia (Nasdaq: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups.


With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the Company’s live and virtual events business. It also includes Premiere Networks, the industry’s largest Networks business, with its Total Traffic and Weather Network; and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base.


The iHeartMedia Digital Audio Group includes the Company’s growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500+ platforms and thousands of devices; the Company’s digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.


The Company’s Audio & Media Services reportable segment includes Katz Media Group, the nation’s largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.


Certain statements herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors which may cause the actual results, performance or achievements of iHeartMedia, Inc. and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The words or phrases “guidance,” “believe,” “expect,” “anticipate,” “estimates,” “forecast” and similar words or expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the Company’s anticipated growth and continued investments; our expected costs savings; utilization of new technologies, programmatic platforms, and revenue opportunities; improving operational efficiency; future advertising demand; trends in the advertising industry, including on other media platforms; strategies, goals, partnerships and initiatives; our anticipated financial condition and performance, including our outlook as to first quarter and full year 2026 consolidated results of operations; and our future liquidity and net leverage are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other important factors, some of which are beyond our control and are difficult to predict. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to: risks related to global economic or political uncertainty and our dependence on advertising revenues; competition, including increased competition from alternative media platforms and technologies; dependence upon our brand and the performance of on-air talent, program hosts and management; fluctuations in operating costs; technological and industry changes and innovations; shifts in population and other demographics; risks related to our use of artificial intelligence, impact of acquisitions, dispositions and other strategic transactions; risks related to our indebtedness; legislative or regulatory requirements; impact of legislation, and royalty audits on music licensing and royalties; regulations and concerns regarding privacy and data protection and breaches of information security measures; risks related to scrutiny and regulation of environmental, social and governance matters, risks related to our Class A common stock; and regulations impacting our business and the ownership of our securities. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date hereof. Additional risks that could cause future results to differ from those expressed by any forward-looking statement are described in the Company’s reports filed with the U.S. Securities and Exchange Commission (SEC), including in the section entitled “Part I, Item 1A. Risk Factors” of iHeartMedia, Inc.’s Annual Reports on Form 10-K and “Part II, Item 1A. Risk Factors” of iHeartMedia, Inc.’s Quarterly Reports on Form 10-Q. The Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.


APPENDIX


TABLE 1 - Comparison of operating performance




(In thousands)






Three Months Ended

December 31,






 






%






 






Year Ended

December 31,






 






%








 






 






2025






 






 






2024






 






Change






 






 






2025






 






 






 






2024






 






 






Change








Revenue






$






1,127,227






 






$






1,118,269






 






0.8






%






 






$






3,864,991






 






 






$






3,854,532






 






 






0.3






%








Operating expenses:






 






 






 






 






 






 






 






 






 






 






 








Direct operating expenses (excludes depreciation and amortization)






 






466,766






 






 






455,777






 






2.4






%






 






 






1,613,426






 






 






 






1,588,931






 






 






1.5






%








Selling, general and administrative expenses (excludes depreciation and amortization)






 






479,316






 






 






458,088






 






4.6






%






 






 






1,687,616






 






 






 






1,693,679






 






 






(0.4






)%








Depreciation and amortization






 






87,716






 






 






98,733






 






 






 






 






360,047






 






 






 






409,582






 






 






 








Impairment charges






 






—






 






 






537






 






 






 






 






213,908






 






 






 






922,681






 






 






 








Other operating expense






 






7,728






 






 






587






 






 






 






 






10,634






 






 






 






2,767






 






 






 








Operating income (loss)






$






85,701






 






$






104,547






 






 






 






$






(20,640






)






 






$






(763,108






)






 






 








Depreciation and amortization






 






87,716






 






 






98,733






 






 






 






 






360,047






 






 






 






409,582






 






 






 








Impairment charges






 






—






 






 






537






 






 






 






 






213,908






 






 






 






922,681






 






 






 








Other operating expense






 






7,728






 






 






587






 






 






 






 






10,634






 






 






 






2,767






 






 






 








Restructuring expenses






 






22,951






 






 






33,456






 






 






 






 






77,714






 






 






 






101,384






 






 






 








Share-based compensation expense






 






16,202






 






 






8,348






 






 






 






 






44,104






 






 






 






32,311






 






 






 








Adjusted EBITDA1






$






220,298






 






$






246,208






 






(10.5






)%






 






$






685,767






 






 






$






705,617






 






 






(2.8






)%









1See the end of this press release for reconciliations of (i) Adjusted EBITDA to Operating income (loss), and (ii) Adjusted EBITDA to Net income (loss). See also the definitions of Adjusted EBITDA and Adjusted EBITDA margin under the Supplemental Disclosure section in this release.







TABLE 2 - Statements of Operations




(In thousands)






Three Months Ended

December 31,






 






Year Ended

December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Revenue






$






1,127,227






 






 






$






1,118,269






 






 






$






3,864,991






 






 






$






3,854,532






 








Operating expenses:






 






 






 






 






 






 






 








Direct operating expenses (excludes depreciation and amortization)






 






466,766






 






 






 






455,777






 






 






 






1,613,426






 






 






 






1,588,931






 








Selling, general and administrative expenses (excludes depreciation and amortization)






 






479,316






 






 






 






458,088






 






 






 






1,687,616






 






 






 






1,693,679






 








Depreciation and amortization






 






87,716






 






 






 






98,733






 






 






 






360,047






 






 






 






409,582






 








Impairment charges






 






—






 






 






 






537






 






 






 






213,908






 






 






 






922,681






 








Other operating expense






 






7,728






 






 






 






587






 






 






 






10,634






 






 






 






2,767






 








Operating income (loss)






 






85,701






 






 






 






104,547






 






 






 






(20,640






)






 






 






(763,108






)








Interest expense, net






 






99,476






 






 






 






92,627






 






 






 






402,535






 






 






 






379,434






 








Gain (loss) on investments, net






 






(10,327






)






 






 






(15,956






)






 






 






(43,025






)






 






 






75,523






 








Equity in earnings (loss) of nonconsolidated affiliates






 






(7,010






)






 






 






47






 






 






 






(6,998






)






 






 






(2,646






)








Loss on extinguishment of debt






 






(8






)






 






 






(97,305






)






 






 






(1,577






)






 






 






(97,305






)








Other income (expense), net






 






67






 






 






 






(1,394






)






 






 






1,093






 






 






 






(926






)








Loss before income taxes






 






(31,053






)






 






 






(102,688






)






 






 






(473,682






)






 






 






(1,167,896






)








Income tax benefit (expense)






 






(10,202






)






 






 






134,616






 






 






 






1,795






 






 






 






158,402






 








Net income (loss)






 






(41,255






)






 






 






31,928






 






 






 






(471,887






)






 






 






(1,009,494






)








Less amount attributable to noncontrolling interest






 






643






 






 






 






438






 






 






 






979






 






 






 






447






 








Net income (loss) attributable to the Company






$






(41,898






)






 






$






31,490






 






 






$






(472,866






)






 






$






(1,009,941






)







TABLE 3 - Selected Balance Sheet Information




(In millions)






December 31, 2025






 






December 31, 2024








Cash






$






270.9






 






 






$






259.6






 








Total Current Assets






 






1,459.3






 






 






 






1,361.8






 








Net Property, Plant and Equipment






 






398.2






 






 






 






489.8






 








Total Assets






 






5,126.0






 






 






 






5,571.7






 








Current Liabilities (excluding current portion of long-term debt)






 






894.0






 






 






 






847.8






 








Long-term Debt (including current portion of long-term debt)






 






5,053.1






 






 






 






5,071.5






 








Stockholders' Deficit






 






(1,827.0






)






 






 






(1,371.8






)







Supplemental Disclosure Regarding Non-GAAP Financial Information


The following tables set forth the Company’s Adjusted EBITDA, Adjusted EBITDA margin, revenues excluding political advertising revenue, Free Cash Flow, Free cash flow including net proceeds from real estate sales, and Free cash flow excluding the impacts of the Debt Exchange Transaction for the three months and year ended December 31, 2025 and 2024, and Net Debt as of December 31, 2025. Adjusted EBITDA is defined as consolidated Operating income (loss) adjusted to exclude restructuring expenses included within Direct operating expenses and SG&A expenses, and share-based compensation expenses included within SG&A expenses, as well as the following line items presented in our Statements of Operations: Depreciation and amortization, Impairment charges, and Other operating expense. Alternatively, Adjusted EBITDA is calculated as Net income (loss), adjusted to exclude Income tax (benefit) expense, Interest expense, net, Depreciation and amortization, (Gain) loss on investments, net, Loss on extinguishment of debt, Other (income) expense, net, Equity in (earnings) loss of nonconsolidated affiliates, Impairment charges, Other operating expense, Share-based compensation expense, and Restructuring expenses. Restructuring expenses primarily include expenses incurred in connection with cost-saving initiatives, as well as certain expenses, which, in the view of management, are outside the ordinary course of business or otherwise not representative of the Company's operations during a normal business cycle. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue.


The Company uses Adjusted EBITDA and Adjusted EBITDA margin, among other measures, to evaluate the Company’s operating performance. Adjusted EBITDA is among the primary measures used by management for the planning and forecasting of future periods, as well as for measuring performance for compensation of executives and other members of management. We believe this measure is an important indicator of the Company’s operational strength and performance of its business because it provides a link between operational performance and operating income.


The Company believes the presentation of these measures is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by the Company’s management. The Company believes it helps improve investors’ ability to understand the Company’s operating performance and makes it easier to compare the Company’s results with other companies that have different capital structures or tax rates. In addition, the Company believes this measure is also among the primary measures used externally by the Company’s investors, analysts and peers in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry.


Since Adjusted EBITDA is not a measure calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, Operating income (loss) as an indicator of operating performance and may not be comparable to similarly titled measures employed by other companies. Adjusted EBITDA is not necessarily a measure of the Company’s ability to fund its cash needs. As it excludes certain financial information compared with Operating income (loss), the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions which are excluded.


We define Free Cash Flow as Cash provided by operating activities less capital expenditures, which is disclosed as Purchases of property, plant and equipment in the Company’s Consolidated Statements of Cash Flows. Free cash flow including net proceeds from real estate sales further adjusts Free Cash Flow to add back net proceeds from real estate sales. We use Free Cash Flow and Free Cash Flow including net proceeds from real estate sales, among other measures, to evaluate the Company’s liquidity and its ability to generate cash flow. We believe that Free Cash Flow and Free Cash Flow including net proceeds from real estate sales is meaningful to investors because it provides them with a view of the Company’s liquidity after deducting capital expenditures, which are considered to be a necessary component of ongoing operations; and include proceeds from real estate sales in the case of Free Cash Flow including net proceeds from real estate sales.


We define Free Cash Flow excluding the impacts of the Debt Exchange Transaction as Free Cash Flow including net proceeds from real estate sales, while further excluding the Debt Exchange Transaction fees. We use Free Cash Flow measures, among other measures, to evaluate the Company’s liquidity and its ability to generate cash flow. We believe that Free Cash Flow and Free Cash Flow excluding the impacts of the Debt Exchange Transaction are meaningful to investors because they provide them with a view of the Company’s liquidity after deducting capital expenditures, which are considered to be a necessary component of ongoing operations, and excluding the impacts of the Debt Exchange Transaction in the case of Free Cash Flow excluding the impacts of the Debt Exchange Transaction.


In addition, we believe that Free Cash Flow, Free Cash Flow including net proceeds from real estate sales, and Free Cash Flow excluding the impacts of the Debt Exchange Transaction help improve investors’ ability to compare our liquidity with that of other companies.


Since Free Cash Flow, Free Cash Flow including net proceeds from real estate sales, and Free Cash Flow excluding the impacts of the Debt Exchange Transaction are not measures calculated in accordance with GAAP, should not be considered in isolation of, or as a substitute for, Cash provided by operating activities and may not be comparable to similarly titled measures employed by other companies. Free Cash Flow, Free Cash Flow including net proceeds from real estate sales, and Free Cash Flow excluding the impacts of the Debt Exchange Transaction are not necessarily measures of our ability to fund our cash needs.


The Company presents revenue, excluding the effects of political revenue. Due to the cyclical nature of the electoral system and the seasonality of the related political revenue, management believes presenting revenue, excluding the effects of political revenue, provides additional information to investors about the Company’s revenue growth from period to period.


We define Net Debt as Total Debt less Cash and cash equivalents and Debt Premium. The Company uses Net Debt to evaluate the Company's liquidity. We believe this measure is an important indicator of the Company's ability to service its long-term debt obligations.


Since these non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, the most directly comparable GAAP financial measures as an indicator of operating performance or liquidity.


As required by the SEC rules, the Company provides reconciliations below to the most directly comparable measures reported under GAAP, including (i) Adjusted EBITDA to Operating income (loss), (ii) Adjusted EBITDA to Net income (loss), (iii) Free Cash Flow, Free Cash Flow including net proceeds from real estate sales, and Free Cash Flow excluding the impacts of the Debt Exchange Transaction to Cash provided by operating activities, (iv) revenue, excluding political advertising revenue, to revenue, and (v) Net Debt to Total Debt.


We have provided forecasted Consolidated Revenue and Adjusted EBITDA guidance for the quarter ending March 31, 2026, which reflects targets for revenue and Adjusted EBITDA. Our Earnings Call on March 2, 2026 may present additional guidance that includes Adjusted EBITDA. A full reconciliation of the forecasted Adjusted EBITDA to the respective most-directly comparable GAAP metrics cannot be provided without unreasonable efforts due to the inherent difficulty in forecasting and quantifying with reasonable accuracy significant items required for the reconciliations, including gains or losses on investments, extinguishment of debt, equity in nonconsolidated affiliates, impairment charges, stock based compensation, and restructuring as well as the Company's cash and cash equivalent balance.


Reconciliation of Operating income (loss) to Adjusted EBITDA




(In thousands)






Three Months Ended

December 31,






 






Year Ended

December 31,






 






Three Months Ended

September 30,








 






 






2025






 






 






2024






 






 






2025






 






 






 






2024






 






 






 






2025






 








Operating income (loss)






$






85,701






 






$






104,547






 






$






(20,640






)






 






$






(763,108






)






 






$






(116,277






)








Depreciation and amortization






 






87,716






 






 






98,733






 






 






360,047






 






 






 






409,582






 






 






 






90,061






 








Impairment charges






 






—






 






 






537






 






 






213,908






 






 






 






922,681






 






 






 






208,501






 








Other operating expense






 






7,728






 






 






587






 






 






10,634






 






 






 






2,767






 






 






 






1,161






 








Restructuring expenses






 






22,951






 






 






33,456






 






 






77,714






 






 






 






101,384






 






 






 






9,695






 








Share-based compensation expense






 






16,202






 






 






8,348






 






 






44,104






 






 






 






32,311






 






 






 






11,613






 








Adjusted EBITDA






$






220,298






 






$






246,208






 






$






685,767






 






 






$






705,617






 






 






$






204,754






 







Reconciliation of Net income (loss) to EBITDA and Adjusted EBITDA




(In thousands)






Three Months Ended

December 31,






 






Year Ended

December 31,






 






Three Months Ended

September 30,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 






 






 






2025






 








Net income (loss)






$






(41,255






)






 






$






31,928






 






 






$






(471,887






)






 






$






(1,009,494






)






 






$






(65,761






)








Income tax expense (benefit)






 






10,202






 






 






 






(134,616






)






 






 






(1,795






)






 






 






(158,402






)






 






 






(165,609






)








Interest expense, net






 






99,476






 






 






 






92,627






 






 






 






402,535






 






 






 






379,434






 






 






 






101,779






 








Depreciation and amortization






 






87,716






 






 






 






98,733






 






 






 






360,047






 






 






 






409,582






 






 






 






90,061






 








EBITDA






$






156,139






 






 






$






88,672






 






 






$






288,900






 






 






$






(378,880






)






 






$






(39,530






)








(Gain) loss on investments, net






 






10,327






 






 






 






15,956






 






 






 






43,025






 






 






 






(75,523






)






 






 






13,203






 








Loss on extinguishment of debt






 






8






 






 






 






97,305






 






 






 






1,577






 






 






 






97,305






 






 






 






109






 








Other (income) expense, net






 






(67






)






 






 






1,394






 






 






 






(1,093






)






 






 






926






 






 






 






15






 








Equity in (earnings) loss of nonconsolidated affiliates






 






7,010






 






 






 






(47






)






 






 






6,998






 






 






 






2,646






 






 






 






(13






)








Impairment charges






 






—






 






 






 






537






 






 






 






213,908






 






 






 






922,681






 






 






 






208,501






 








Other operating expense






 






7,728






 






 






 






587






 






 






 






10,634






 






 






 






2,767






 






 






 






1,161






 








Restructuring expenses






 






22,951






 






 






 






33,456






 






 






 






77,714






 






 






 






101,384






 






 






 






9,695






 








Share-based compensation expense






 






16,202






 






 






 






8,348






 






 






 






44,104






 






 






 






32,311






 






 






 






11,613






 








Adjusted EBITDA






$






220,298






 






 






$






246,208






 






 






$






685,767






 






 






$






705,617






 






 






$






204,754






 







Reconciliation of Cash provided by operating activities to Free Cash Flow, Free Cash Flow including net proceeds from real estate sales, and Free Cash Flow excluding the impacts of the Debt Exchange Transaction




(In thousands)






Three Months Ended

December 31,






 






Year Ended

December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Cash provided by operating activities






$






156,255






 






 






$






1,212






 






 






$






92,583






 






 






$






71,429






 








Purchases of property, plant and equipment






 






(18,679






)






 






 






(25,420






)






 






 






(81,672






)






 






 






(97,594






)








Free cash flow






$






137,576






 






 






$






(24,208






)






 






$






10,911






 






 






$






(26,165






)








Net proceeds from real estate sales1






 






19,999






 






 






 






—






 






 






 






19,999






 






 






 






210






 








Free cash flow including net proceeds from real estate sales






$






157,575






 






 






$






(24,208






)






 






$






30,910






 






 






$






(25,955






)








Interest paid for the Debt Exchange Transaction2






 






—






 






 






 






46,321






 






 






 






—






 






 






 






46,321






 








Debt Exchange Transaction fees2






 






—






 






 






 






88,970






 






 






 






—






 






 






 






88,970






 








Free cash flow excluding the impacts of the Debt Exchange Transaction2






$






157,575






 






 






$






111,083






 






 






$






30,910






 






 






$






109,336






 









1 During the three months and year ended December 31, 2025, we deployed capital expenditures to accelerate the proactive streamlining of our real estate footprint aimed at reducing our structural cost base. This initiative has succeeded in making certain real estate assets redundant, enabling the Company to sell such assets to partially fund the initiative’s gross capital expenditures.








2 We completed the Debt Exchange Transaction in the fourth quarter of 2024 which resulted in $89.0 million of Debt Exchange fees, and $46.3 million of cash paid for accrued interest that would have been paid in 2025 under the old debt terms.







Reconciliation of Revenue to Revenue excluding Political Advertising




(In thousands)






Three Months Ended

December 31,






 






%




Change






 






Year Ended

December 31,






 






%




Change








 






 






2025






 






 






 






2024






 






 






 






 






2025






 






 






 






2024






 






 








Consolidated revenue






$






1,127,227






 






 






$






1,118,269






 






 






0.8






%






 






$






3,864,991






 






 






$






3,854,532






 






 






0.3






%








Excluding: Political revenue






 






(12,217






)






 






 






(82,673






)






 






 






 






 






(29,592






)






 






 






(153,212






)






 






 








Consolidated revenue, excluding political






$






1,115,010






 






 






$






1,035,596






 






 






7.7






%






 






$






3,835,399






 






 






$






3,701,320






 






 






3.6






%








 






 






 






 






 






 






 






 






 






 






 






 








Multiplatform Group revenue






$






664,766






 






 






$






683,995






 






 






(2.8






)%






 






$






2,273,549






 






 






$






2,372,909






 






 






(4.2






)%








Excluding: Political revenue






 






(6,979






)






 






 






(41,186






)






 






 






 






 






(17,821






)






 






 






(73,289






)






 






 








Multiplatform Group revenue, excluding political






$






657,787






 






 






$






642,809






 






 






2.3






%






 






$






2,255,728






 






 






$






2,299,620






 






 






(1.9






)%








 






 






 






 






 






 






 






 






 






 






 






 








Digital Audio Group revenue






$






386,588






 






 






$






338,892






 






 






14.1






%






 






$






1,329,422






 






 






$






1,164,515






 






 






14.2






%








Excluding: Political revenue






 






(2,311






)






 






 






(6,076






)






 






 






 






 






(5,302






)






 






 






(12,880






)






 






 








Digital Audio Group revenue, excluding political






$






384,277






 






 






$






332,816






 






 






15.5






%






 






$






1,324,120






 






 






$






1,151,635






 






 






15.0






%








 






 






 






 






 






 






 






 






 






 






 






 








Audio & Media Group Services revenue






$






78,881






 






 






$






97,755






 






 






(19.3






)%






 






$






272,545






 






 






$






327,055






 






 






(16.7






)%








Excluding: Political revenue






 






(2,927






)






 






 






(35,411






)






 






 






 






 






(6,469






)






 






 






(67,043






)






 






 








Audio & Media Services Group revenue, excluding political






$






75,954






 






 






$






62,344






 






 






21.8






%






 






$






266,076






 






 






$






260,012






 






 






2.3






%







Reconciliation of Total Debt to Net Debt




(In thousands)






December 31,

2025








Current portion of long-term debt






$






73,429








Long-term debt






 






4,979,662








Total debt






$






5,053,091








Less: Debt premium






 






242,151








Less: Cash and cash equivalents






 






270,921








Net debt






$






4,540,019







Segment Results


The following tables present the Company's segment results for the Company for the periods presented:




 






Segments






 






 






 






 






 






 








(In thousands)






Multiplatform

Group






 






Digital

Audio

Group






 






Audio &

Media

Services

Group






 






Corporate

and other

reconciling

items






 






Eliminations






 






Consolidated








Three Months Ended December 31, 2025








Revenue






$






664,766






 






 






$






386,588






 






 






$






78,881






 






 






$






—






 






 






$






(3,008






)






 






$






1,127,227






 








Less: Operating expenses(1)






 






536,069






 






 






 






254,896






 






 






 






47,557






 






 






 






71,415






 






 






 






(3,008






)






 






 






906,929






 








Segment Adjusted EBITDA






$






128,697






 






 






$






131,692






 






 






$






31,324






 






 






$






(71,415






)






 






$






—






 






 






$






220,298






 








Adjusted EBITDA margin






 






19.4






%






 






 






34.1






%






 






 






39.7






%






 






 






 






 






 






 






19.5






%








Depreciation and amortization






 






 






 






 






 






 






 






 






 






 






 






(87,716






)








Impairment charges






 






 






 






 






 






 






 






 






 






 






 






—






 








Other operating expense






 






 






 






 






 






 






 






 






 






 






 






(7,728






)








Restructuring expenses






 






 






 






 






 






 






 






 






 






 






 






(22,951






)








Share-based compensation expense






 






 






 






 






 






 






 






 






 






 






 






(16,202






)








Operating income






 






 






 






 






 






 






 






 






 






 






$






85,701






 








Operating margin






 






 






 






 






 






 






 






 






 






 






 






7.6%









 






Segments






 






 






 






 






 






 








(In thousands)






Multiplatform

Group






 






Digital

Audio

Group






 






Audio &

Media

Services

Group






 






Corporate

and other

reconciling

items






 






Eliminations






 






Consolidated








Three Months Ended December 31, 2024








Revenue






$






683,995






 






 






$






338,892






 






 






$






97,755






 






 






$






—






 






 






$






(2,373






)






 






$






1,118,269






 








Less: Operating expenses(1)






 






534,046






 






 






 






219,955






 






 






 






49,034






 






 






 






71,399






 






 






 






(2,373






)






 






 






872,061






 








Segment Adjusted EBITDA






$






149,949






 






 






$






118,937






 






 






$






48,721






 






 






$






(71,399






)






 






$






—






 






 






$






246,208






 








Adjusted EBITDA margin






 






21.9






%






 






 






35.1






%






 






 






49.8






%






 






 






 






 






 






 






22.0






%








Depreciation and amortization






 






 






 






 






 






 






 






 






 






 






 






(98,733






)








Impairment charges






 






 






 






 






 






 






 






 






 






 






 






(537






)








Other operating expense






 






 






 






 






 






 






 






 






 






 






 






(587






)








Restructuring expenses






 






 






 






 






 






 






 






 






 






 






 






(33,456






)








Share-based compensation expense






 






 






 






 






 






 






 






 






 






 






 






(8,348






)








Operating income






 






 






 






 






 






 






 






 






 






 






$






104,547






 








Operating margin






 






 






 






 






 






 






 






 






 






 






 






9.3%











(1)







Operating expenses consist of Direct operating expenses and SG&A expenses, excluding Restructuring expenses and share-based compensation expenses.









 






Segments






 






 






 






 






 






 








(In thousands)






Multiplatform

Group






 






Digital

Audio

Group






 






Audio &

Media

Services

Group






 






Corporate

and other

reconciling

items






 






Eliminations






 






Consolidated








Year Ended December 31, 2025








Revenue






$






2,273,549






 






 






$






1,329,422






 






 






$






272,545






 






 






$






—






 






 






$






(10,525






)






 






$






3,864,991






 








Less: Operating expenses(1)






 






1,859,329






 






 






 






872,731






 






 






 






179,117






 






 






 






278,572






 






 






 






(10,525






)






 






 






3,179,224






 








Segment Adjusted EBITDA






$






414,220






 






 






$






456,691






 






 






$






93,428






 






 






$






(278,572






)






 






$






—






 






 






$






685,767






 








Adjusted EBITDA margin






 






18.2






%






 






 






34.4






%






 






 






34.3






%






 






 






 






 






 






 






17.7






%








Depreciation and amortization






 






 






 






 






 






 






 






 






 






 






 






(360,047






)








Impairment charges






 






 






 






 






 






 






 






 






 






 






 






(213,908






)








Other operating expense, net






 






 






 






 






 






 






 






 






 






 






 






(10,634






)








Restructuring expenses






 






 






 






 






 






 






 






 






 






 






 






(77,714






)








Share-based compensation expense






 






 






 






 






 






 






 






 






 






 






 






(44,104






)








Operating loss






 






 






 






 






 






 






 






 






 






 






$






(20,640






)








Operating margin






 






 






 






 






 






 






 






 






 






 






 






(0.5)%









 






Segments






 






 






 






 






 






 








(In thousands)






Multiplatform

Group






 






Digital

Audio

Group






 






Audio &

Media

Services

Group






 






Corporate

and other

reconciling

items






 






Eliminations






 






Consolidated








Year Ended December 31, 2024








Revenue






$






2,372,909






 






 






$






1,164,515






 






 






$






327,055






 






 






$






—






 






 






$






(9,947






)






 






$






3,854,532






 








Less: Operating expenses(1)






 






1,911,643






 






 






 






785,575






 






 






 






186,381






 






 






 






275,263






 






 






 






(9,947






)






 






 






3,148,915






 








Segment Adjusted EBITDA






$






461,266






 






 






$






378,940






 






 






$






140,674






 






 






$






(275,263






)






 






$






—






 






 






$






705,617






 








Adjusted EBITDA margin






 






19.4






%






 






 






32.5






%






 






 






43.0






%






 






 






 






 






 






 






18.3






%








Depreciation and amortization






 






 






 






 






 






 






 






 






 






 






 






(409,582






)








Impairment charges






 






 






 






 






 






 






 






 






 






 






 






(922,681






)








Other operating income, net






 






 






 






 






 






 






 






 






 






 






 






(2,767






)








Restructuring expenses






 






 






 






 






 






 






 






 






 






 






 






(101,384






)








Share-based compensation expense






 






 






 






 






 






 






 






 






 






 






 






(32,311






)








Operating loss






 






 






 






 






 






 






 






 






 






 






$






(763,108






)








Operating margin






 






 






 






 






 






 






 






 






 






 






 






(19.8)%











(1)







Operating expenses consist of Direct operating expenses and SG&A expenses, excluding Restructuring expenses and share-based compensation expenses.







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260302019651/en/
For further information:

Media

Wendy Goldberg

Chief Communications Officer

(212) 377-1105

wendygoldberg@iheartmedia.com


Investors

Andrey Hart

SVP of Investor Relations

(703) 956-0115

andreyhart@iheartmedia.com


Original: iHeartmedia, Inc. Reports Results for 2025 Fourth Quarter and Full Year