| Market Capitalization (Millions $) |
442 |
| Shares
Outstanding (Millions) |
158 |
| Employees |
18,800 |
| Revenues (TTM) (Millions $) |
3,975 |
| Net Income (TTM) (Millions $) |
-285 |
| Cash Flow (TTM) (Millions $) |
-145 |
| Capital Exp. (TTM) (Millions $) |
106 |
Business Description
IHeartMedia Inc., formerly known as Clear Channel Communications, is an American media conglomerate that mainly deals with radio broadcasting and outdoor advertising. It is one of the biggest radio station groups in the United States and owns 848 broadcast radio stations in more than 150 markets. The company is headquartered in San Antonio, Texas, and has operations in major cities all over the nation, including New York, Los Angeles, Chicago, and Miami.
The company's radio stations feature programming in various formats such as Alternative, Country, R&B, Hip Hop, and Rock, among others. IHeartMedia offers broadcasts primarily in English, but it also has some Spanish-language programming throughout its stations in the US. Apart from radio broadcasting, the company also operates Clear Channel Outdoor, which is one of the largest outdoor advertising companies in the world, with over 450,000 displays across 31 countries.
IHeartMedia was founded in 1972 by Lowry Mays and Red McCombs as a small radio station group in San Antonio, Texas. The company grew rapidly throughout the 1990s, acquiring numerous stations and becoming one of the largest players in the radio industry. However, the company struggled with a substantial debt load after the 2008 financial crisis, leading to its eventual bankruptcy in 2018.
After emerging from bankruptcy, the company was rebranded as IHeartMedia to focus more on its online and digital capabilities. The company has since shifted its focus to developing streaming and podcasting services to compete with other digital media giants such as Spotify and Pandora. IHeartMedia has also established several partnerships and collaborations with other media companies and artists to expand its reach and bring new content to its listeners.
In summary, IHeartMedia Inc. is a leading media company that has a dominant presence in the US radio broadcasting market. Its extensive coverage and diverse programming options appeal to a broad audience across the country. The company has evolved over the years to stay relevant and adapt to changing times, and it continues to invest in new technologies and partnerships to maintain its position as a top player in the media industry.
Company Address: 20880 Stone Oak Parkway San Antonio, 78258 TX
Company Phone Number: 253-5000 Stock Exchange / Ticker: NASDAQ IHRT
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