iHeartMedia, Inc. Reports Results for 2019 Fourth Quarter and Full Year
San Antonio, TX, February 27, 2020 - iHeartMedia, Inc. (Nasdaq: IHRT) today reported financial results for the quarter and year ended December 31, 2019.
“We are extremely proud of all that iHeart and its employees accomplished in 2019. After emerging from Chapter 11 in May with a healthier capital structure and listing on the Nasdaq in July, we continued to execute on our strategic plans to build our strong operating business and drive shareholder value,” said Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia, Inc. “As the number one audio company in the U.S. based on reach, we look forward to expanding our unequaled multi-platform leadership position and leveraging the investments that we have made to modernize our infrastructure and become more efficient, effective and competitive. The audio environment has never been more exciting, and we look forward to leading - and capitalizing on it in 2020 and beyond.”
“Our financial performance in 2019 was underpinned by the reach and resilience of our traditional business, profitable growth in our other platforms including our Digital businesses and proactive improvement of our capital structure,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “Through our innovation and thought leadership in areas like podcasting and our SmartAudio suite of targeting, analysis and attribution services for advertisers, we are at the forefront of driving the audio revolution. We will continue to work to build long-term shareholder value by maximizing our Free Cash Flow and de-leveraging our balance sheet.”