IHRT on Nasdaq

iHeartMedia

Logo: iHeartMedia, Public domain, via Wikimedia Commons4

American mass media corporation

iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008.3 Its chief executive is Robert Pittman (since 2011).1 Its shares trade on Nasdaq under the symbol IHRT.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$3.9BRevenue, fiscal 20255
-$472.9MNet income, fiscal 20255
1972Founded1

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  • TickerIHRT on Nasdaq1
  • Industrymedia industry, music industry, radio broadcasting1
  • HeadquartersSan Antonio1
  • Founded inSan Antonio1
  • Websiteiheartmedia.com
  • Legal formprivately held company1
  • Business address20880 Stone Oak Parkway, San Antonio, Tx 782586
  • Filer categoryAccelerated filer, Smaller reporting company6

iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-0.5%Operating margin5
-12.2%Net margin5
0.3%Revenue growth, 20255
$10.9MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Broadcast Radio brought in 46% of the revenue iHeartMedia broke down this way in fiscal 2025.

  1. Broadcast Radio$1.6B546%down 5% from 2024
  2. Digital Podcast$563.7M516%up 26% from 2024
  3. Networks$439.8M512%up 1% from 2024
  4. Trade and Barter Transactions$381.3M511%up 46% from 2024
  5. Audio And Media Services$266.8M58%down 17% from 2024
  6. Sponsorship And Events$182.0M55%down 3% from 2024
  7. Advertising Trade and Barter Transactions$55.3M52%up 7% from 2024
Products and services by year
Products and services202320242025
Broadcast Radio$1.8B$1.7B$1.6B
Digital Podcast$407.8M$448.8M$563.7M
Networks$466.4M$437.2M$439.8M
Trade and Barter Transactions$255.7M$261.8M$381.3M
Audio And Media Services$251.3M$321.7M$266.8M
Sponsorship And Events$191.4M$187.3M$182.0M
Advertising Trade and Barter Transactions$33.3M$51.9M$55.3M

Business segments

Multiplatform Group brought in 59% of the revenue iHeartMedia broke down this way in fiscal 2025.

  1. Multiplatform Group$2.3B559%down 4% from 2024
  2. Digital Audio Group$1.3B534%up 14% from 2024
  3. Audio And Media Services Group$272.5M57%down 17% from 2024
Business segments by year
Business segments202320242025
Multiplatform Group$2.4B$2.4B$2.3B
Digital Audio Group$1.1B$1.2B$1.3B
Audio And Media Services Group$256.7M$327.1M$272.5M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin44¢$1.7B
  • Other costs56¢$2.2B
  • Income tax0¢$1.8M

Out of $3.9B in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending88¢$81.7M
  • Kept or used elsewhere12¢$10.9M

Out of $92.6M of cash from operations.5

Financial statements

Revenue91011125$3.9B in 2025+7% since 2018
0$1.0B$2.0B$3.0B$4.0B2018: $3.6B$3.6B20182020: $2.9B$2.9B2020−18%2021: $3.6B$3.6B2021+21%2022: $3.9B$3.9B2022+10%2023: $3.8B$3.8B2023−4%2024: $3.9B$3.9B2024+3%2025: $3.9B$3.9B2025+0%
Operating income91011125-$20.6M in 2025
-$2.0B-$1.0B0$1.0B2018: $690.1M$690.1M20182020: -$1.7B-$1.7B20202021: $154.9M$154.9M20212022: $56.9M$56.9M2022−63%2023: -$797.3M-$797.3M20232024: -$763.1M-$763.1M2024−4%2025: -$20.6M-$20.6M2025−97%
Net income91011125-$472.9M in 2025+134% since 2018
-$2.0B-$1.5B-$1.0B-$500.0M02018: -$201.9M-$201.9M20182020: -$1.9B-$1.9B2020+848%2021: -$159.2M-$159.2M2021−92%2022: -$264.7M-$264.7M2022+66%2023: -$1.1B-$1.1B2023+317%2024: -$1.0B-$1.0B2024−8%2025: -$472.9M-$472.9M2025−53%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenue$3.9B$3.9B$3.8B
Direct operating expenses (excludes depreciation and amortization)$1.6B$1.6B$1.5B
Selling, general and administrative expenses (excludes depreciation and amortization)$1.7B$1.7B$1.7B
Depreciation and amortization$360.0M$409.6M$428.5M
Impairment charges$213.9M$922.7M$965.1M
Other operating expense$10.6M$2.8M$4.4M
Operating loss-$20.6M-$763.1M-$797.3M
Interest expense, net$402.5M$379.4M$389.8M
Gain (loss) on investments, net-$43.0M$75.5M-$28.1M
Equity in loss of nonconsolidated affiliates-$7.0M-$2.6M-$3.5M
Gain (loss) on extinguishment of debt and exchange costs-$1.6M-$97.3M$56.7M
Other income (expense), net$1.1M-$926.0K-$655.0K
Loss before income taxes-$473.7M-$1.2B-$1.2B
Income tax benefit$1.8M$158.4M$62.3M
Net loss-$471.9M-$1.0B-$1.1B
Less amount attributable to noncontrolling interest$979.0K$447.0K$2.3M
Net loss attributable to the Company-$472.9M-$1.0B-$1.1B
Foreign currency translation adjustments$7.0K-$757.0K$203.0K
Other comprehensive income (loss), net of tax$7.0K-$757.0K$203.0K
Comprehensive loss-$472.9M-$1.0B-$1.1B
Less amount attributable to noncontrolling interest$0$0$0
Comprehensive loss attributable to the Company-$472.9M-$1.0B-$1.1B
Basic (in dollars per share)-$3.06-$6.68-$7.39
Weighted average common shares outstanding - Basic (in shares)154.3M shares151.3M shares149.3M shares
Diluted (in dollars per share)-$3.06-$6.68-$7.39
Weighted average common shares outstanding - Diluted (in shares)154.3M shares151.3M shares149.3M shares

Compare iHeartMedia with another company

Corporate structure

iHeartMedia sits at the top of its group. 60 entities, 26 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of iHeartMedia

  • iHeartMedia San Antonio
    • Clear Channel Outdoor Subsidiary · San Antonio, Texas, United States
      • Clear Channel Poland Subsidiary · Warsaw, Poland
      • CCO Holdings BC, Inc. Subsidiary · Canada
      • CCO International Holdings BV Subsidiary · Netherlands
      • Clear Channel CV Subsidiary · Netherlands
      • Clear Channel Entertainment of Brazil Ltda Subsidiary · Brazil
      • Clear Channel Espana SLU Subsidiary · Spain
      • Clear Channel Espectaculos SL Subsidiary · Spain
      • Clear Channel Holdings CV Subsidiary · Netherlands
      • Clear Channel International BV Subsidiary · Netherlands
      • Clear Channel International Holdings BV Subsidiary · Netherlands
      • Clear Channel KNR Neth Antilles NV Subsidiary · Curaçao
      • Clear Channel Pacific Pte Ltd. Subsidiary · Singapore
      • Clear Channel Singapore Pte Ltd. Subsidiary · Singapore
      • Comurben SA Subsidiary · Morocco
      • Equipamientos Urbbanos de Uruguary Subsidiary · Uruguay
      • Giganto Holding Cayman Subsidiary · Cayman Islands
      • Interspace Airport Advertising Aruba NV Subsidiary · Aruba
      • Interspace Airport Advertising Curacao N.V. Subsidiary · Curaçao
      • Interspace Airport Advertising Grand Cayman Subsidiary · Cayman Islands
      • Interspace Airport Advertising West Indies Ltd. Subsidiary · Jamaica
      • L & C Outdoor Ltda. Subsidiary · Brazil
      • Outdoor Holding Company Cayman I Subsidiary · Cayman Islands
      • Outdoor Holding Company Cayman II Subsidiary · Cayman Islands
      • Publicidade Klimes Sao Paulo Ltda Subsidiary · Brazil
    • Georgia News Network Subsidiary · Atlanta
    • HowStuffWorks Subsidiary · Atlanta
    • iHeartRadio Subsidiary · 32 Avenue of the Americas
    • KISS-FM Subsidiary
    • Mediabase Subsidiary · San Antonio
    • Premiere Networks Subsidiary · Sherman Oaks
    • Radio Computing Services Subsidiary · White Plains
    • 121cast Pty Ltd (dba Omny) Subsidiary · Australia
    • Aircheck India Pvt. Ltd. Subsidiary · India
    • Bauer Media Outdoor Subsidiary · United Kingdom
    • iHeartCommunications Subsidiary · Texas, United States
    • iHeartMedia and Entertainment Subsidiary
    • KIIS-FM Subsidiary · Los Angeles, United States
    • Manadge Subsidiary · France
    • Media Monitors (M) Sdn. Bhd. Subsidiary · Malaysia
    • Media Monitors Dominican Republic Subsidiary · Panama
    • Radio Computing Services (Africa) Pty Ltd. Subsidiary · South Africa
    • Radio Computing Services (India) Pvt. Ltd. Subsidiary · India
    • Radio Computing Services (NZ) Ltd. Subsidiary · New Zealand
    • Radio Computing Services (SEA) Pte Ltd. Subsidiary · Singapore
    • Radio Computing Services (Thailand) Ltd. Subsidiary · Thailand
    • Radio Computing Services (UK) Ltd. Subsidiary · United Kingdom
    • Radio Computing Services Canada Ltd. Subsidiary · Canada
    • Radiojar SA Subsidiary · Greece
    • and 10 more

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What iHeartMedia reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$625.8M5 Dec 31, 2025$668.2M5 Dec 31, 2024−6.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$270.9M5 Dec 31, 2025$259.6M5 Dec 31, 2024+4.4%
Debt securities available for sale$114.4M5 Dec 31, 2025$73.3M5 Dec 31, 2024+56.2%
Stakes in other companies (equity method)$7.5M5 Dec 31, 2025$14.0M5 Dec 31, 2024−46.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.1B5 Dec 31, 2025$1.1B5 Dec 31, 20240%
Indefinite-lived intangibles (excluding goodwill)$601.4M5 Dec 31, 2025$809.9M5 Dec 31, 2024−25.7%
Finite-lived intangibles, gross$2.3B5 Dec 31, 2025$2.3B5 Dec 31, 20240%
Accumulated amortization$1.6B5 Dec 31, 2025$1.4B5 Dec 31, 2024+15.1%
Finite-lived intangibles, net$713.8M5 Dec 31, 2025$927.6M5 Dec 31, 2024−23.0%

Properties, in its own words

Our corporate headquarters are located in San Antonio, Texas, where we lease space for executive offices and a data and administrative service center. In addition, certain of our executive and other operations are located in New York, New York.

The types of properties required to support each of our radio stations include offices, studios, transmitter sites and antenna sites. We either own or lease our transmitter and antenna sites. A radio station’s studios are generally housed with its offices in downtown or business districts. A radio station’s transmitter sites and antenna sites are generally positioned in a manner that provides maximum market coverage.

The rest of Item 2

The studios and offices of our radio stations are located in leased or owned facilities. The leases for studios and offices generally have expiration dates that range from one to 15 years. The leases for towers and antennas generally have expiration dates that range from one to 30 years. We do not anticipate any difficulties in renewing those leases that expire within the next several years or in leasing other space, if required. We lease substantially all of our towers and antennas and own substantially all of the other equipment used in our business. For additional information regarding our properties, see “Item 1. Business.”

Item 2 of the 10-K filed Mar 2, 2026.19

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

Founded by Lowry Mays and Red McCombs in 1972, in San Antonio.1

History

20th century

Clear Channel Communications purchased its first FM station, KEEZ-FM in San Antonio, Texas, in 1972. The company purchased the second "clear channel" AM station WOAI in 1975. In 1976, the company purchased its first stations outside of San Antonio. KXXO (now KAKC) and KMOD-FM in Tulsa were acquired under the name "San Antonio Broadcasting" (same as KEEZ). Stations were also added in Port Arthur, Texas (KPAC-AM-FM, now KDEI and KTJM, from Port Arthur College), and El Paso, Texas (KELP, now KQBU) from John Walton Jr.

In 1992, the U.S. Congress relaxed radio ownership rules slightly, allowing the company to acquire more than two stations per market. By 1995, Clear Channel owned 43 radio stations and 16 television stations. When the Telecommunications Act of 1996 became law, the act deregulated media ownership, allowing a company to own more stations than previously allowed. Clear Channel went on a subsequent buying spree, purchasing more than 70 other media companies and individual stations.

In a few cases, following purchase of a competitor, Clear Channel was forced to divest some of its stations, as it was above the legal thresholds in some cities. In 2005, the courts ruled that Clear Channel must also divest itself of some "border blaster" radio stations in international border cities, such as the alternative rock radio station XETRA-FM ("91X") in Tijuana/San Diego.

In 1997, Clear Channel expanded and diversified its business, purchasing Eller Media, a billboard media company, led by Karl Eller.

In 1998, it made its first move outside of the US when it acquired the leading UK outdoor advertising company More Group plc, which was led by Roger Parry; Clear Channel went on to buy many other outdoor advertising, radio broadcasting, and live events companies around the world, which were then re-branded Clear Channel International. These included a 51% stake in Clear Media Ltd. in China. R. Steven Hicks and Hicks, Muse, Tate & Furst began Capstar Broadcasting in 1996, and a year later had become the largest owner of radio stations in the country, with 243 stations in total. In August 1997, Capstar and Hicks, Muse, Tate & Furst announced plans to acquire SFX Broadcasting, with the resulting company owning 314 stations in 79 markets and ranking as the third-largest radio group by income. A year later, Chancellor Media Corporation and Capstar Broadcasting Corporation announced a merger that would result in Chancellor Media owning 463 stations in 105 markets when the deal was completed in second quarter 1999. Hicks, Muse, Tate & Furst owned 59 percent of Capstar, with 355 stations in 83 markets, and was the largest single owner of Chancellor (which had 108 stations in 22 markets), with 15 percent of the stock. Chancellor Media later became AMFM Inc., which was acquired by Clear Channel in a deal announced October 3, 1999, and valued at $17.4 billion. The resulting company would own 830 radio stations, 19 television stations, and over 425,000 outdoor displays in 32 countries.

In 1999, the company acquired Jacor Communications, a radio corporation based in Cincinnati. The company also made an investment in the new satellite radio service XM Satellite Radio, giving it the rights to program a selection of stations on the service (which would be drawn from some of its stations and syndicated output). On October 4, 1999, Clear Channel announced it would acquire AMFM Inc., the nation's second-largest radio company for $23.5 billion. After receiving approval from federal regulators on August 16, 2000, the acquisition was completed on August 30, 2000.

21st century

In 2000, Clear Channel acquired Robert F. X. Sillerman's SFX Entertainment, a concert promoter that had focused on consolidation of regional promoters under a national operation. In 2005, Clear Channel spun off its entertainment and live events business as Live Nation.

On November 16, 2006, Clear Channel announced plans to go private, being bought out by two private-equity firms, Thomas H. Lee Partners and Bain Capital Partners for $26.7 billion, which included their assumption of $8 billion in Clear Channel debt. This was just under a 10 percent premium above its closing price of $35.36 a share on November 16: the deal valued Clear Channel at $37.60 per share.

Read the full text

In a separate transaction also announced on November 16, 2006, Clear Channel said it would seek buyers for all of its television stations and 539 of its smaller radio stations, because the private-equity buyers were not interested in owning television or small-market radio. Over a hundred stations were assigned to Aloha Station Trust, LLC upon the consummation of the merger. The television stations were sold to Newport Television, a broadcaster owned by Providence Equity Partners, on April 23, 2007.

Due to the credit market crunch of 2007, Clear Channel encountered difficulty selling some of its radio stations. Clear Channel's attempt to sell off over 100 stations to GoodRadio.TV, LLC was rejected by the equity firm backing the deal. The deal then shifted to Frequency License LLC, but took longer to resolve itself as the two parties were engaged in lawsuits. On top of that, the sale of Clear Channel's television portfolio to Newport Television had also turned uncertain, as Providence considered other options, although this transaction was ultimately completed.

On December 4, 2007, Clear Channel announced that they had extended the termination date of the buyout from December 12, 2007, to June 12, 2008. On July 24, 2008, Clear Channel held a special shareholder meeting, during which the majority of shareholders accepted a revised $36-per-share offer from Bain Capital and Thomas H. Lee Partners, revaluing the deal at $17.9 billion plus debt. Shareholders received either $36 in cash, or one share of CC Media Class A common stock for each share of Clear Channel common stock held. The company announced that it would move to more centralized programming and lay off 1,500 employees, or approximately 7% of its workforce, on January 20, 2009. The reasoning was bleak economic conditions and debt from its transition to a private company. By the completion of the restructuring in May 2009, a total of 2,440 positions were eliminated.

In early 2010, it was announced that the company was facing the possibility of bankruptcy due to its "crippling debt". After 21 years, Mark Mays stepped down as president and CEO of Clear Channel on June 23, 2010. Mays remained as chairman of the board. Later that year, MTV co-founder Robert W. "Bob" Pittman joined the company and would eventually become CEO of CC Media Holdings.

In August 2013, Clear Channel sold its minority stake in SiriusXM for $135.5 million. This also resulted in the removal of most Clear Channel-programmed stations on the service, besides simulcasts of WHTZ and KIIS-FM.

On January 6, 2014, Clear Channel announced a marketing partnership with Robert F. X. Sillerman's SFX Entertainment (a second incarnation of a live events company that had been sold to Clear Channel, which spun off to form Live Nation), to collaborate on electronic dance music content for its digital and terrestrial radio outlets, including a Beatport top 20 countdown show. The partnership expanded upon the company's existing EDM-oriented outlets, including Evolution. Staff, including John Sykes, believed that the deal would help provide a higher level of national exposure to current and up and coming EDM artists.

In September 2014, it was announced that the company would rename Clear Channel Communications to iHeartMedia, alluding to its iHeartRadio platform to reflect the company's growing emphasis on digital media and internet radio. The previous name "Clear Channel" came from AM broadcasting, referring to a channel (frequency) on which only one station transmits. In the U.S., clear-channel stations have exclusive rights to their frequencies throughout most of the continent at night, when AM signals travel far due to skywave. CEO Bob Pittman said that the company had been "doing progressive stuff", yet were still "named after AM radio stations".

Beginning in 2008, iHeartMedia struggled to pay down more than $20 billion in debt the company assumed from its leveraged buyout. Various media outlets, including Bloomberg News, Reuters, Radio Ink, and iHeartMedia's hometown newspaper the San Antonio Express-News, claimed that either bankruptcy or a major restructuring was likely. On April 20, 2017, the company warned investors that it might not survive over the following 10 months.

In 2016, one of the company's directors, Julia B. Donnelly, left the board of iHeartCommunications and was replaced by Laura A. Grattan, a director at Thomas H. Lee. Grattan was named to the board of managers of iHeartMedia Capital I, LLC, the direct parent of iHeartCommunications, as well as the board of directors of iHeartMedia, Inc., the indirect parent of iHeartCommunications.

On November 30, 2017, it was reported that a group of creditors had rejected iHeartMedia's latest debt restructuring proposal, instead bringing out a deal where the company might file for bankruptcy. On March 15, 2018, the company filed for Chapter 11 bankruptcy, and claimed that it reached an agreement to restructure $10 billion of its over $20 billion in debt.

In September 2018, iHeartMedia acquired HowStuffWorks' podcast network Stuff Media for $55 million. On November 19, 2018, iHeartMedia announced its intent to acquire Jelli, the provider of a programmatic advertising platform for radio stations.

In January 2019, the U.S. Bankruptcy Court for the Southern District of Texas approved a creditor-supported plan for iHeartMedia to exit bankruptcy, which would reduce the company's debt from $16.1 billion to $5.75 billion. The plan included the spin-out of iHeartMedia's 89.1% stake in its out-of-home advertising division Clear Channel Outdoor. In April 2019, the company also filed a proposed initial public offering.

iHeartMedia emerged from Chapter 11 bankruptcy in May 2019, with a new board of directors and the spin-out of Clear Channel Outdoor, but maintaining its existing leadership of CEO Bob Pittman and President Rich Bressler. Rather than pursue its IPO (which was estimated to potentially be valued at $1.1 billion), iHeartMedia instead received approval for a direct listing on the Nasdaq.

On January 14, 2020, iHeartMedia announced a major restructuring, as part of an effort to "modernize our company to take advantage of the significant investments we have made in new technology and aligning our operating structure to match the technology-powered businesses we are now in." This included the restructuring of its Markets Group into three divisions: the Regions division for its largest markets, the Metropolitan division for other major cities, and the Communities division for smaller markets and added a multi-market partnerships unit, and announced the development of centers of excellence that would use technology investments to "provide a better experience for listeners and business partners and a more efficient process for all of its employees".

The restructuring was accompanied by a major round of layoffs and displacements, with a large number of staff members and on-air personalities impacted.

On April 24, 2026, The New York Times reported that SiriusXM was in early talks to merge with IHeartMedia. iHeart previously had a stake in the company until August 2013. However, on May 29, 2026, it was reported that merger talks were stalled.

On June 18, 2026, iHeartMedia announced the "Audiograph", which is designed as "a suite of advertising capabilities that, for the first time, will bring digital-like targeting, identity-based planning and measurement, and outcome-based attribution to broadcast radio at scale."

In June 2026, iHeartMedia announced another major restructuring, as part of an effort to "expand and deepen our support for our communities, markets and sales teams", "fully leverage our technology to deliver an even stronger product for listeners wherever they live", "move faster and operate with greater precision across markets", and "position us not just to adapt to the future, but to lead it." The reorganization resulted in mass layoffs by the company, in which was considered the biggest staff purge in radio history. Markets like Atlantic City, New Jersey, Spokane, Washington, Fort Collins, Colorado, Sussex County, New Jersey and Erie, Pennsylvania have lost all of their remaining local on-air talents, including rhythmic contemporary radio station KGGI in Riverside, California.

As well, during this time, iHeartMedia made nationalization changes across many of its stations, in which they moved to the company's "national" custom music logs. Among the stations affected was KZIS in Sacramento, California was affected by this as it shifted from a 90s/2000s hits-based format to hot adult contemporary, which began to utilize iHeartMedia's "Today's Mix" log.

Black Information Network

On June 30, 2020, iHeartMedia announced a new all-news radio brand, the Black Information Network (BIN), which is targeted towards African Americans. BIN is heard on iHeartMedia stations in dozens of cities. WBIN Atlanta is considered the flagship station.

From Wikipedia’s article on IHeartMedia, shared under CC BY-SA 4.0.7

Leadership

Who has led iHeartMedia, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (41)

Products and brands

iHeartMedia has purchased interest in, or outright acquired, companies in a number of media or advertising-related industries. This is not an exhaustive list.

Radio

With 855 stations, iHeartMedia is the largest radio station group owner in the United States, both by number of stations and by revenue. The 855 stations reach more than 110 million listeners every week, and 276 million every month. According to BIA Financial Network, iHeartMedia recorded more than $3.5 billion in revenues as of 2021, $1 billion more than the number-two group owner, Audacy.

In June 2012, the company announced that it would become the first U.S. radio group to partner with record labels to pay performance royalties directly to labels and musicians (in addition to songwriters and producers). The royalties are paid via revenue sharing for advertising across platforms (including digital), rather than a flat payment each time a song is played. Big Machine Label Group was announced as the first partner in this scheme. Pittman stated that the arrangement would let "labels and artists participate in the revenue of broadcast radio immediately and in digital radio as it builds".

Radio acquisitions

iHeartMedia has purchased stations from or acquired the following radio companies:

Read the full text

Outdoor advertising

Clear Channel Outdoor (CCO) is an advertising company that was previously owned by iHeartMedia. In May 2019, it was spun out from iHeartMedia as part of its exit from bankruptcy.

Television

Clear Channel Television is a defunct television broadcaster and a former subsidiary of the group that was in operation, for nearly 20 years, from 1988 to 2008. It owned more than 40 stations, most of them were from the Big Six networks, a few of which are independent (non-network affiliates). It was initially headed by J. Daniel Sullivan, who set up as president of Clear Channel's television division.

The group made its beginnings when the first television station iHeartMedia purchased as Clear Channel was WPMI in Mobile, Alabama in 1988. Later that year, Clear Channel Communications bought out KDTU-TV in Tucson, Arizona, which became Clear Channel's second television station. On March 13, 1989, Clear Channel Television bought out KOKI-TV for $6.5 million. This was followed on July 3 of that year with the purchase of Fox affiliate WAWS-TV in Jacksonville, Florida, from Malrite Communications Group, for $8.1 million.

Eventually over time, Clear Channel Television became the second-largest independent television group, behind Sinclair Broadcast Group. In 1990, Clear Channel bought out its fifth television station, KSAS-TV in Wichita, Kansas, for $7.9 million. In 1991, Clear Channel bought out KLRT-TV in Little Rock, Arkansas for $6.6 million. In 1992, Clear Channel bought out WPTY-TV in Memphis from Chase Communications for $21 million. Later on in 1993, the company bought out KITN-TV in Minneapolis/St. Paul from Nationwide Communications, followed in 1994 by the purchase of WXXA-TV in Albany from Heritage Communications, for $25.5 million.

In 1991, Clear Channel Television jumped into the foray of local marketing agreements, starting in 1991 with WJTC, which Clear Channel operated through a LMA with WPMI, and subsequently later on in 1992, when KASN entered into a LMA with Clear Channel's KLRT-TV. Clear Channel also entered into a deal with Providence Journal Company, who owns Fox affiliate KMSB in Tucson to operate KTTU through a local marketing agreement. Memphis also jumped onto the board when WLMT entered into a LMA with Clear Channel's WPTY. Also in 1993, Clear Channel entered into a local marketing agreement with RDS Communications to operate KTFO-TV in Tulsa, which most of the inventory will be supplied by KOKI. Later on, in 1994, in Jacksonville, WTEV-TV entered into a local marketing agreement with WAWS, the Clear Channel television station.

In 1994, Fox shockingly announced its intentions to purchase WHBQ-TV, which displaced Clear Channel's WPTY-TV as its Fox Memphis affiliate. Also that year, as part of a group deal involving stations acquired by SF Broadcasting, Clear Channel's WPMI-TV in Mobile was set to be displaced as Mobile's Fox affiliate by WALA-TV as part of a three-station deal with the other Burnham stations. These moves didn't sit well for Clear Channel Television, whose president Dan Sullivan thought they wanted to affiliate it with the ousted networks, including NBC in Mobile, and ABC in Memphis.

In 1995, Clear Channel purchased its first Big Three network affiliate, WHP-TV in Harrisburg, for $30 million. It was subsequently followed it up when Gateway Communications, owners of WLYH-TV entered into a LMA with Clear Channel's WHP-TV. Later on that year, J. Dan Sullivan left Clear Channel Television to start out Sullivan Broadcasting to acquire the Act III Broadcasting stations. He was then succeeded by Rip Rioridan as president. In 1996, it bought out WPRI-TV in Providence from CBS, which CBS did not keep due to slight signal overlap with WBZ-TV in Boston. Also that year, Argyle Television Holdings II, who owned WNAC-TV entered into a LMA with Clear Channel's WPRI.

As part of the radio-TV strategy, Clear Channel acquired Jacor Communications, which incorporated WKRC-TV in Cincinnati into the Clear Channel Television branch. Once FCC relaxed its duopoly rules, Clear Channel acquired stations that were originally LMA markets outright, including WLMT in Memphis, KTFO in Tulsa, WTEV in Jacksonville, KASN in Little Rock and WJTC in Mobile. Also in 2000, Clear Channel sold WPRI to Sunrise Television for $50 million. Later on in 2001, William Moll become the president of Clear Channel Television, replacing Rioridan.

In 2001, after acquiring the stations of Chris-Craft Industries, Fox Television Stations traded WFTC to Clear Channel Television for Fox's own TV stations KMOL-TV in San Antonio and KTVX in Salt Lake City. In 2002, Clear Channel acquired Ackerley Group, which incorporated its television holdings into the Clear Channel Television portfolio. Also that year, Clear Channel sold KTTU in Tucson to Belo outright. In 2003, Clear Channel announced that they would sell WUTR to Mission Broadcasting. In 2004, Clear Channel bought WETM outright after the death of Robert Smith, the founder of Smith Broadcasting. In 2005, Clear Channel acquired another Salt Lake City television station KUWB from Acme Communications for $18.5 million in cash. In 2006, Don Perry was then named president and CEO of Clear Channel Television.

Ever that, in the 2000s, Clear Channel began the trend of using legacy callsigns for former radio sisters as new call designated signs for existing Clear Channel TV properties, since it already owned radio stations, although WKRC-TV already used the moniker when it was under Clear Channel ownership. In 2002, San Antonio's Clear Channel station KMOL-TV was rebranded to WOAI-TV, the original call letters that station is using from 1948 to 1974, matching up with radio sister WOAI-AM. In 2005, WOKR, the Rochester Clear Channel affiliate was rebranded to WHAM-TV, the original call letters for an unrelated Rochester station WROC-TV from 1948 to 1956, matching up for radio sister WHAM-AM. Also that year, sister station in Syracuse, WIXT was rebranded to WSYR-TV, the original call letters for WSTM-TV from 1950 to 1980, matching up for radio sister WSYR-AM.

In 2007, the company entered into an agreement to sell all its television stations to Providence Equity Partners for $1.2 billion, a deal that eventually closed in March 2008. Earlier that year, Don Perry left as president and CEO of Clear Channel Television. All former Clear Channel television stations were owned by Newport Television, while the other six were flipped to other buyers by Newport. In 2012 to mid-2013, Newport sold off all of its holdings to several other television groups, including Cox Media Group, Nexstar Media Group, and Sinclair Broadcast Group.

Former Clear Channel-owned stations

Stations are arranged alphabetically by state and by city of license.

Music charts

iHeartMedia owns Mediabase, which provide music charts based on songs and tracks receiving the most spins played on radio stations in the United States and Canada. A majority of stations that report to Mediabase are iHeartMedia outlets but other companies also report to the Mediabase charts. In addition, countdown shows produced by Premiere will utilize Mediabase charts for the basis of their programs.

News and information

24/7 News Source

Operates iHeartRadio News Network and local news networks in Kentucky, West Virginia, Virginia, Ohio, Oklahoma, Alabama, Tennessee, Georgia, and Florida.

Premiere Networks

Acquired and later sold the Agri Broadcast Network (ABN), a farm programming provider in Ohio.

Publishes Inside Radio magazine

Total Traffic & Weather Network reports: on-road and traffic conditions across the United States, and in Mexico City, Mexico. These are used by many GPS navigation systems. Total Traffic & Weather also produce and distributes 24/7 News channel on iHeartRadio (from 2016 to 2024, iHeart/TTWN and NBC News formed a content/licensing agreement for NBC News Radio).

Fan Radio Network: a sports radio network that serves Minnesota, South Dakota, and North Dakota. The flagship station is KFXN-FM in Minneapolis, MN.

Your Smooth Jazz: 24-hour smooth jazz network provided under the company's "Broadcast Architecture" division.

Worldwide

Owns outdoor advertising companies in Brazil, Chile, Finland, France, Italy, Latvia, Norway, Poland, Romania, Singapore, South Africa, Sweden, Switzerland, Turkey, Belgium and Mauritius.

Owns L & C Outdoor Comunicação Visual Ltda., of Brazil

United Kingdom

Large numbers of billboards (through a takeover of Adshel)

See Clear Channel UK

Bicycle rental systems

Operates urban bicycle sharing systems in several European cities:

Vertical Real Estate

In 2003, Clear Channel created the Vertical Real Estate division and hired Scott Quitadamo to promote its tower portfolio. iHeartMedia owns and operates approximately 1,500 broadcast transmission towers across the U.S., many of which are available for co-location by third parties such as cellular and PCS companies, wireless internet, fixed wireless, and other broadcasters.

From Wikipedia’s article on IHeartMedia, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Owners

Subsidiaries

Also owns

Subsidiaries (Exhibit 21)

  • 121cast Pty Ltd (dba Omny) Australia8
  • Aircheck India Pvt. Ltd. India8
  • Manadge France8
  • Media Monitors (M) Sdn. Bhd. Malaysia8
  • Media Monitors Dominican Republic Panama8
  • RCS Australia Technologies Pty Ltd. Australia8
  • RCS Europe SARL France8
  • RCS Radio Computing China, Inc. China8
  • RCS Taiwan Technology Co., Ltd. Taiwan8
  • RCS Technologies Greece Greece8
  • Radio Computing Services (Africa) Pty Ltd. South Africa8
  • Radio Computing Services (India) Pvt. Ltd. India8
  • Radio Computing Services (NZ) Ltd. New Zealand8
  • Radio Computing Services (SEA) Pte Ltd. Singapore8
  • Radio Computing Services (Thailand) Ltd. Thailand8
  • Radio Computing Services (UK) Ltd. United Kingdom8
  • Radio Computing Services Canada Ltd. Canada8
  • Radiojar SA Greece8
  • Spacial South Africa (Pty) Ltd. South Africa8
  • Triton Digital Canada, Inc. Canada8
  • Triton Digital Canada, Inc. - UK Branch United Kingdom8
  • Triton Digital Spain, S.L. Spain8
  • V-Labs, S.r.L Italy8

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Acquisitions

  1. 2008Acquired iHeartCommunications1

Former names

  • CC Media Holdings IncAug 3, 2009 to Sep 16, 20146
  • C C Media Holdings IncJun 29, 2007 to Jul 17, 20096
  • BT Triple Crown Capital Holdings III, Inc.May 30, 2007 to Jul 9, 20076

Timeline

  1. Aug 10, 20268-K Results of operations71
  2. Jun 4, 20268-K Executive or director change; Shareholder vote72
  3. May 11, 20268-K Results of operations73
  4. Mar 2, 20268-K Results of operations74
  5. Dec 1, 20258-K Executive or director change75
  6. Nov 10, 20258-K Results of operations76
  7. Sep 2, 20258-K Executive or director change77
  8. Aug 11, 20258-K Results of operations78
  9. Jun 5, 20258-K Executive or director change79
  10. May 19, 20258-K Shareholder vote80
  11. May 12, 20258-K Financial statements and exhibits81
  12. Apr 24, 20258-K Regulation FD disclosure82
  13. Feb 28, 2011New chief executive Christopher William Eccleshare becomes CEO21
  14. 2011New chief executive Robert Pittman becomes CEO1
  15. Jul 30, 2008New chief executive Paul J. Meyer becomes CEO24
  16. Jul 30, 2008New chief executive Mark P. Mays becomes CEO23
  17. Jul 30, 2008New chief executive John E. Hogan becomes CEO22
  18. 1972Founded Founded in San Antonio1

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.63 a share, on Nov 10, 2025.83

When it reported results

  1. Aug 10, 2026Reported quarterly or annual results71
  2. May 11, 2026Reported quarterly or annual results73
  3. Mar 2, 2026Reported quarterly or annual results74
  4. Nov 10, 2025Reported quarterly or annual results76
  5. Aug 11, 2025Reported quarterly or annual results78
  6. Feb 27, 2025Reported quarterly or annual results84
  7. Nov 7, 2024Reported quarterly or annual results85
  8. Aug 8, 2024Reported quarterly or annual results86

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

248 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 45 major events, 143 insider forms, 24 large holders, 16 other. The latest 20:

  1. Aug 13, 2026SCHEDULE 13G/A EDGAR
  2. Aug 10, 202610-Q EDGAR
  3. Aug 10, 20268-K EDGAR
  4. Jul 31, 20264 EDGAR
  5. Jun 8, 20264 EDGAR
  6. Jun 5, 20264 EDGAR
  7. Jun 5, 20264 EDGAR
  8. Jun 5, 20264 EDGAR
  9. Jun 5, 20264 EDGAR
  10. Jun 5, 20264 EDGAR
  11. Jun 4, 20268-K EDGAR
  12. May 26, 2026DEFA14A EDGAR
  13. May 20, 20264 EDGAR
  14. May 20, 20264 EDGAR
  15. May 20, 20264 EDGAR
  16. May 13, 2026SCHEDULE 13G EDGAR
  17. May 11, 2026S-8 EDGAR
  18. May 11, 202610-Q EDGAR
  19. May 11, 20268-K EDGAR
  20. Apr 29, 20264 EDGAR

The 248 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

45 open-market trades by officers, directors and large owners since October 2021: 40 buys and 5 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 9, 2026PITTMAN ROBERT WChairman and CEOBuy16,349$2.97$48.6KForm 4
Mar 5, 2026PITTMAN ROBERT WChairman and CEOBuy32,468$3.25$105.5KForm 4
Aug 14, 2025PITTMAN ROBERT WChairman and CEOBuy117,371$2.19$257.0KForm 4
May 16, 2025SIVARAMAKRISHNAN KAMAKSHIDirectorSale136$1.24$169Form 4
May 15, 2025PITTMAN ROBERT WChairman and CEOBuy200,000$1.22$244.0KForm 4
Apr 28, 2025SIVARAMAKRISHNAN KAMAKSHIDirectorBuy170$1.03$175Form 4
Apr 24, 2025SIVARAMAKRISHNAN KAMAKSHIDirectorSale200$1.02$204Form 4
Apr 7, 2025SIVARAMAKRISHNAN KAMAKSHIDirectorBuy190$1.23$234Form 4
Mar 24, 2025SIVARAMAKRISHNAN KAMAKSHIDirectorBuy197$1.76$347Form 4
Mar 21, 2025SIVARAMAKRISHNAN KAMAKSHIDirectorBuy168$1.69$284Form 4
Mar 7, 2025BRESSLER RICHARD JPresident and COOBuy100,000$1.79$179.0KForm 4
Mar 4, 2025PITTMAN ROBERT WChairman and CEOBuy200,000$1.60$320.0KForm 4
Feb 28, 2025SIVARAMAKRISHNAN KAMAKSHIDirectorBuy292$1.70$498Form 4
Nov 13, 2024Rasulo James ADirectorSale40,223$2.40$96.5KForm 4
Nov 14, 2023PITTMAN ROBERT WChairman and CEOBuy100,000$2.06$206.0KForm 4
Aug 11, 2023PITTMAN ROBERT WChairman and CEOBuy58,480$3.44$201.2KForm 4
May 5, 2023Hamilton Scott DSee RemarksBuy2,000$2.86$5.7KForm 4
May 5, 2023PITTMAN ROBERT WChairman and CEOBuy88,028$2.88$253.5KForm 4
Mar 10, 2023MCGUINNESS MICHAEL BCFOBuy10,000$5.00$50.0KForm 4
Mar 7, 2023MCGUINNESS MICHAEL BCFOBuy17,500$5.45$95.4KForm 4

All 45 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Robert W. PittmanChairman and Chief Executive Officer (PEO)72$1.8M$13.0M98
2025Richard J. BresslerPresident, Chief Operating Officer and Chief Financial Officer (PFO)68$1.8M$12.8M98
2025Michael B. McGuinnessExecutive Vice President, Finance and Deputy Chief Financial Officer49$925.0K$2.7M98
2024Robert W. PittmanChairman and Chief Executive Officer (PEO)72$1.8M$12.9M98
2024Richard J. BresslerPresident, Chief Operating Officer and Chief Financial Officer (PFO)68$1.8M$12.6M98
2024Michael B. McGuinnessExecutive Vice President, Finance and Deputy Chief Financial Officer49$925.0K$3.6M98

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Allianz Asset Management GmbH19,791,939$84.9M0.1%−2,672,403
BlackRock, Inc.8,893,572$38.2M0.0%+727,657
Deutsche Bank Ag\6,443,504$27.6M0.0%−180,119
Oak Hill Advisors LP6,200,000$26.6M3.8%+1,319,470
Vanguard Capital Management LLC4,797,682$20.6M0.0%−138,250
Goldman Sachs Group Inc4,282,101$18.4M0.0%+1,017,619
Sona Asset Management (us) LLC4,109,524$17.6M0.8%+2,234,856
Foursixthree Capital LP3,916,734$16.8M4.5%+1,322,629
Douglas Lane & Associates, LLC3,769,079$16.2M0.2%−31,190
Charles Schwab Investment Management Inc3,437,530$14.7M0.0%−2,257,469
Geode Capital Management, LLC3,219,427$13.8M0.0%+157,808
State Street Corp2,565,336$11.0M0.0%+100,278
Jpmorgan Chase & Co1,765,642$7.9M0.0%−47,021
Vanguard Portfolio Management LLC1,826,779$7.8M0.0%+255,804
BW Gestao de Investimentos Ltda.1,573,466$6.8M0.2%New
Marathon Asset Management LP1,475,000$6.3M16.5%New
Northern Trust Corp1,075,315$4.6M0.0%+85,163
Purpose Unlimited Inc.1,063,156$4.6M0.2%−206,844
Morgan Stanley1,034,392$4.4M0.0%+90,283
Melqart Asset Management (UK) Ltd873,806$3.7M0.4%−95,898
Norges Bank846,900$3.6M0.0%New
Vanguard Fiduciary Trust Co802,518$3.4M0.0%+1,302
Renaissance Technologies LLC754,229$3.2M0.0%−74,500
Aqr Capital Management LLC709,638$3.0M0.0%−167,461
Mackenzie Financial Corp658,185$2.8M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How iHeartMedia is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARiHeartMedia, Inc.2
  • CIK0001400891
  • Employer ID (EIN)26-024122219
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company19
  • Incorporated inDelaware19
  • Fiscal year endsDecember 312
  • Industry code (SIC)4832 Radio Broadcasting Stations2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address20880 Stone Oak Parkway, San Antonio, TX 782582
  • Phone210-822-28282
  • Shares outstanding129,552,146 Common Class A shares; 21,090,196 Common Class B shares; 5,038,369 Special Warrants shares as of Feb 25, 202619
  • Public float$145.9M as of Jun 30, 202519
  • AuditorErnst & Young LLP, San Antonio, Texas PCAOB ID 42; it also attests to the company’s internal control over financial reporting19
  • On EDGAR sinceMay 30, 20072
  • Filings1,024 in all: 4 (342), 8-K (342), 3 (56), 10-Q (55), SC 13G/A (41), SC 13G (24), 10-K (18), DEF 14A (16)2
    All 48 form types

    UPLOAD (15), CORRESP (12), DEFA14A (12), SC 13D/A (11), 4/A (7), S-8 (7), 8-K/A (5), S-4/A (5), 5 (4), SC 13D (4), SC TO-I/A (4), 10-Q/A (3), 424B3 (3), EFFECT (3), S-8 POS (3), SCHEDULE 13G/A (3), 10-K/A (2), 3/A (2), 8-A12B (2), S-4 (2), SC TO-I (2), 15-12G (1), 425 (1), 8-A12G (1), 8-K12G3 (1), 8-K12G3/A (1), ARS (1), CERT (1), CT ORDER (1), DEF 14C (1), DEFR14A (1), NT 10-K (1), NT 10-Q (1), POS AM (1), PRE 14A (1), PRE 14C (1), RW (1), S-1 (1), S-1/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Proxy statement (DEF 14A) Apr 17, 2026
    Latest 8-K (8-K) Aug 10, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, par value $0.001 per shareIHRTThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).19

Risk factors and legal proceedings

The risks iHeartMedia names in Item 1A of its 10-K filed Mar 2, 2026: 30 risks under these headings, as written.19

  • Risks Related to Our Business
  • Our results have been in the past, and could be in the future, adversely affected by economic or political uncertainty or deterioration in economic conditions and corresponding reduced spending by advertisers.
  • The success of our business is dependent upon advertising revenues, which are seasonal, cyclical, and may fluctuate as a result of a number of factors, some of which are beyond our control.
  • We face intense competition in our business.
  • Alternative media and entertainment platforms and technologies may continue to increase competition with our operations.
  • Our business is dependent upon the performance of on-air talent, program hosts, and acquisition of programming.
  • Emerging industry trends may adversely impact our ability to generate revenue from our digital advertising inventory and materially adversely affect our business, operations, and financial condition.
  • If events occur that damage our reputation and brand, our ability to grow our user base, advertiser relationships, and partnerships may be impaired and our business may be harmed.
  • Our business is dependent on our management team and other key individuals.
  • Our financial performance may be adversely affected by many factors within or beyond our control.
  • Acquisitions, dispositions and other strategic investments or transactions could pose risks.
  • If we or our third-party providers fail to protect confidential information and/or experience data security incidents, we could lose valuable information, suffer disruptions to our business, and/or incur material expenses and liabilities in the investigation and remediation of such incidents, as well as damages to our relationships with listeners, consumers, business partners, employees and advertisers, which would materially adversely affect our business, results of operations, and financial condition.
The other 19 risks
  • We use artificial intelligence ("AI") in our business, and challenges in managing its use could result in reputational harm, competitive disadvantage, legal liability, and adverse effects on our results of operations.
  • We have engaged in restructuring activities in the past and may implement further restructurings in the future and our restructuring efforts may not be successful or generate expected cost savings.
  • Risks Related to our Indebtedness
  • Our substantial indebtedness may adversely affect our financial health and operating flexibility.
  • Regulatory, Legislative and Litigation Risks
  • Extensive current government regulation, and future regulation, may limit our radio broadcasting and other operations or adversely affect our business and financial results.
  • Legislation and royalty audits may require us to pay additional royalties, including to additional parties such as record labels or recording artists.
  • Compliance with ever evolving regulations, third-party restrictions, and consumer concerns or litigation regarding data privacy and data protection involves significant expenditure and resources, and any failure by us or our vendors to comply may result in significant liability, negative publicity, and/or an erosion of trust, which could materially adversely affect our business, operations, and financial condition.
  • Environmental, health, safety and land use laws and regulations may limit or restrict some of our operations.
  • We may face lawsuits, incur liability or suffer reputational harm as a result of content published or made available through our services.
  • We are subject to a series of risks regarding scrutiny and regulation of environmental, social, and governance matters.
  • Risks Related to our Class A Common Stock
  • We do not intend to pay dividends on our Class A common stock for the foreseeable future.
  • We are a holding company and rely on dividends, distributions and other payments, advances and transfers of funds from our subsidiaries to meet our obligations.
  • Conversion of shares of our Class B common stock and Special Warrants into our Class A common stock would cause significant dilution to our shareholders and may adversely impact the market price of our Class A common stock.
  • Delaware law and certain provisions in our certificate of incorporation may prevent efforts by our stockholders to change the direction or management of our company.
  • Our certificate of incorporation designates the Court of Chancery of the State of Delaware, subject to certain exceptions, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders and our bylaws designate the federal district courts of the United States as the exclusive forum for actions arising under the Securities Act of 1933, as amended, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • Regulations imposed by the Communications Act and the FCC limit the foreign individuals or entities that may invest in our capital stock without FCC approval.
  • Direct or indirect ownership of our securities could result in the violation of the FCC’s media ownership rules by investors with “attributable interests” in other radio stations or in the same market as one or more of our broadcast stations.
  • Our certificate of incorporation grants us broad authority to comply with FCC Regulations.
  • The price of our Class A common stock has been and may in the future be volatile.
  • Information available in public media that is published by third parties, including blogs, articles, message boards and social and other media may include statements not attributable to the Company and may not be reliable or accurate.

Legal proceedings

We are involved in a variety of legal proceedings in the ordinary course of business and a large portion of our litigation arises in the following contexts: commercial disputes; defamation matters; employment and benefits related claims; governmental investigations; intellectual property claims; and tax disputes. Due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on our financial condition or results of operations.

The opening of Item 3, Legal Proceedings.19

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