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iHeartMedia Inc.'s stock IHRT rose 4% in premarket trading on Monday after the media company said it would book a $100 million in proceeds for its equity interest in Broadcast Music Inc. (BMI) as part of the sale of BMI to a shareholder group led by New Mountain Capital LLC. iHeart Media plans to use the money to pay down debt and other general corporate purposes after the deal closes by March 30.
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iHeartMedia, Inc. is expected to benefit from a rebound in the advertising market and the 2024 U.S. election cycle. Despite a tough ad market, the media company reported strong cash flows and positive free cash flows in Q2 2023. iHeartMedia stock remains cheap due to the EV/S multiples and upside potential from lowering leverage.
NEW YORK--(BUSINESS WIRE)--iHeartMedia, Inc. (NASDAQ: IHRT) announced today that on Tuesday August 8th, 2023, it will issue financial results for the quarter ending June 30, 2023. The company will conduct a conference call at 8:00 a.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.
iHeartMedia's (IHRT) new podcast, The Whistleblowers: Inside The Trump Administration, uncovers the individuals who played a pivotal role in the government revelations that had a seismic impact on America.
iHeartMedia, Inc. reported a weak Q1 2023, but the key adjusted EBITDA number beat guidance. The media company grew crucial podcast revenue at a 12% clip despite the tough ad market. iHeartMedia stock is priced for an economic collapse, while the company has been busy buying their debt at a discount.
"We're not competitive with the music services – we're synergistic. The consumer uses us both," says the iHeartMedia CEO.
PHILADELPHIA--(BUSINESS WIRE)--Joe Hand Promotions Partners With iHeartMedia to Present One-Night-Only iHeartCountry Festival Viewing Experience in Theaters Worldwide on May 13.
IHeartMedia (IHRT) came out with a quarterly loss of $1.50 per share versus the Zacks Consensus Estimate of a loss of $0.71. This compares to loss of $0.33 per share a year ago.