iHeartMedia, Inc. Reports Results for Second Quarter 2016
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SAN ANTONIO, Texas - August 4, 2016 iHeartMedia, Inc. (OTCBB:IHRT) today reported financial results for the second quarter ended June 30, 2016.
"We continue to execute on the right strategies to efficiently leverage our growing capabilities as a multi-platform, 21st-century media and entertainment company," said Bob Pittman, Chairman and Chief Executive Officer. "Across our broadcast radio, digital, social, mobile and events platforms with their growing audiences, we are creating even more powerful marketing solutions for our partners. Because we believe that it is critical to do business in the same way that the advertising industry does today, we are extending our automated, data-infused ad-buying initiatives with digital radio's first programmatic private marketplace. This enables buyers to access iHeartRadio's premium inventory and target iHeartRadio's audience using a combination of first- and third-party data segments. At both Americas outdoor and International outdoor, our investments in innovative digital technologies and our ability to win new contracts are providing the creative solutions and flexibility our advertising partners want to reach consumers who are increasingly spending more time out of home."
"We’re pleased with the results we have achieved this quarter, with iHeartMedia extending its growth momentum, Americas outdoor improving its operating performance and International outdoor delivering an overall increase in revenues." said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. "We continue to invest in strengthening our businesses - particularly in enhancing our offerings for consumers and developing innovative marketing solutions for advertisers and agencies, while maintaining our focus on tight operating and financial discipline. These results provide us with the continued flexibility to manage our capital structure in a prudent manner, allowing us to keep evaluating opportunities to strengthen our balance sheet and our businesses."
About iHeartMedia, Inc./iHeartCommunications, Inc.
iHeartMedia, Inc (PINK: IHRT), the parent company of iHeartCommunications, Inc., is one of the leading global media and entertainment companies. The company specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners. The company is dedicated to using the latest technology solutions to transform the company’s products and services for the benefit of its consumers, communities, partners and advertisers, and its outdoor business reaches over 35 countries across five continents, connecting people to brands using innovative new technology.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) is one of the world’s largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the United States. Clear Channel Outdoor Holdings offers many types of displays across its global platform to meet the advertising needs of its customers. This includes a growing digital platform that now offers over 1,050 digital billboards across 29 U.S. markets. Clear Channel Outdoor Holdings’ International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats.