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SAN ANTONIO, Texas - November 9, 2016 - iHeartMedia, Inc. (PINK: IHRT) today reported financial results for the third quarter ended September 30, 2016.
“We continue to grow our audiences across our broadcast radio, outdoor, digital, social, mobile and events platforms, while advancing our transformation as a digital-facing, data-rich company built on the power of broadcast radio and out-of-home,” said Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia, Inc. “This quarter, we were excited to announce the reimagining of live radio with our two new subscription services, iHeartRadio Plus and iHeartRadio All Access, set to debut in January 2017. In addition, at both iHeartMedia and outdoor, we continue to invest in programmatic buying platforms and research analytics tools to leverage our assets for the benefit of our marketing and advertising partners, and at Americas outdoor and International outdoor, we continue to realign our resources to expand our digital out-of-home networks.”
Rich Bressler, President, Chief Operating Officer and Chief Financial Officer said, “This quarter, we delivered revenue and operating income growth at both iHeartMedia and International outdoor. Americas outdoor's revenue and operating income declined as the result of the sales of nine non-strategic markets; excluding the impact of the sales, revenues increased. Overall, our investments are enhancing our businesses -- allowing us to keep developing and delivering innovative new products to our consumers, all while staying focused on tight operating and financial discipline.”