CC Media Holdings, Inc Reports Results For 2013 Second Quarter

CC Media Holdings, Inc. Reports Results For 2013 Second Quarter
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San Antonio, August 1, 2013…CC Media Holdings, Inc. (OTCBB: CCMO) today reported financial results for the second quarter ended June 30, 2013.

 

“During the quarter, we made important progress across our businesses – delivering overall topline growth in a challenging market while strengthening our digital and national advertising capabilities for the future,” said Bob Pittman, Chairman and Chief Executive Officer. “We are continuing to create innovative, multi-platform solutions for leading national marketers and brands. Emphasizing our focus on connecting consumers to their favorite stations, artists, and content wherever they are, iHeartRadio registered users were up 162% from last year’s second quarter and reached the milestone of 30 million registered users in less than two years. Industry research shows that broadcast industry radio listening is also growing – up 9% over the last decade – and remains the #1 source of music discovery and the #1 listening choice in the car by a wide margin. At a time when consumers are spending more time out of their homes than ever – and expect to be connected wherever they are – both our Media+Entertainment and our Outdoor businesses continue to benefit from our leadership in that out-of-home sweet spot we’re seeing globally. Outdoor generated strong results this quarter by leveraging its growing base of digital displays, both domestically and internationally. We also continued to improve our balance sheet with two opportunistic and transformative debt transactions, and we enhanced our liquidity through both operational improvements and the sale of non-core assets."

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 (TTWN); 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 fast-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 250 platforms and 2,000 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.

Visit iHeartMedia.com for more company information.