Investor - iHeartMedia

iHeartMedia, Inc. Responds to Lender Group Allegation

San Antonio, March 8, 2016 – iHeartMedia, Inc. (OTCBB: IHRT) today issued the following response to an event of default allegation made by a small number of the company’s lenders:
 
The strong performance of our operating business provides us with the flexibility to manage our capital structure in a prudent manner.  In full compliance with our debt covenants, we continue to evaluate opportunities to strengthen our balance sheet.
 
We believe our recent contribution of Clear Channel Outdoor Holdings, Inc. stock to our subsidiary Broader Media, LLC constituted a permitted investment under, and fully complied with, our financing agreements.  We strongly believe the notices of default issued by the lender group based on the contribution are invalid.
 
Prior to receiving the notices, we filed a lawsuit in the State District Court in Bexar County, Texas to reaffirm our position that the contribution was permitted.  We intend to take any other actions necessary to protect iHeartMedia and remain willing to engage in constructive discussions with any of our various groups of lenders to position iHeartMedia for long-term growth.

iHeartMedia, Inc. Reports Results for 2015 Fourth Quarter and Full Year

Download the complete release here.

SAN ANTONIO, Texas - Feb. 25, 2016 iHeartMedia, Inc. (OTCBB:IHRT) today reported financial results for the fourth quarter and full year ended December 31, 2015.

“We continue to be pleased with our progress in transforming the company into a multi-platform, data-rich powerhouse, with our investments driving strong operating results,” said Bob Pittman, Chairman and Chief Executive Officer. “At iHeartMedia, the fast-blurring lines between digital and broadcast radio play to our strengths, and the CRB’s new rates will encourage the growth of digital streaming and help build a sustainable digital music marketplace to benefit artists, consumers and the rest of the music industry. We are building on our traditional media sales business by partnering with agencies and clients to launch major marketing initiatives enhanced by rich data and research insights across our core broadcast, live events and other businesses. At Outdoor, we continue to move forward in aligning our Americas and International portfolios to focus on our most attractive strategic opportunities, while tapping into new programmatic and data-learning trends that our advertising partners value highly.”

“With a strong fourth quarter performance, and excluding the impact from foreign exchange rates, we showed growth in both revenue and OIBDAN in 2015 across iHeartMedia, Americas outdoor and International outdoor, despite strong headwinds in certain overseas economies,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “The strength of our operating business provides us with the flexibility to manage our capital structure in a prudent way. We continue to evaluate opportunities to strengthen our balance sheet as we focus on positioning iHeartMedia for long-term growth.”

Key Financial Highlights

The Company’s key financial highlights for the fourth quarter 2015 include:

• Consolidated revenues increased 3% to $1.8 billion after adjusting for a $51 million impact from movements in foreign exchange rates. On a reported basis, consolidated revenue was flat.

• iHeartMedia revenues increased $63 million, or 8%, excluding political revenue. On a reported basis, revenues increased $45 million, or 5%.
• Americas outdoor revenues increased $7 million, or 2%, after adjusting for a $7 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased less than 1%.
• International outdoor revenues increased $14 million, or 3%, after adjusting for a $43 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased $29 million, or 7%.
• Other revenues increased $2 million, or 3%, excluding political revenue. On a reported basis, revenues decreased $13 million, or 21%.

• OIBDAN¹ increased 1%, excluding the impact from movements in foreign exchange rates and decreased 1% on a reported basis.

Note: OIBDAN¹ calculation excludes $3.8 million of incremental lease expense from sale-leaseback transactions related to the sale of certain broadcast communications tower sites and two office buildings and the amortization of deferred system implementation costs.

The Company’s key financial highlights for 2015 include:

• Consolidated revenues increased 2% to $6.5 billion during 2015 compared to 2014 after adjusting for a $229 million impact from movements in foreign exchange rates. On a reported basis, consolidated revenue decreased 1%.

• iHeartMedia revenues increased $155 million, or 5%, excluding political revenue. On a reported basis, revenues increased $123 million, or 4%.
• Americas outdoor revenues increased $22 million, or 2%, after adjusting for a $23 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased $2 million, or less than 1%.
• International outdoor revenues increased $52 million, or 3%, after adjusting for a $206 million impact from movements in foreign exchange rates. On a reported basis, revenues decreased $153 million, or 10%.
• Other revenues decreased $23 million, or 13%, excluding political revenue. On a reported basis, revenues decreased $48 million, or 23%.

• OIBDAN¹ increased 1%, excluding the impact from movements in foreign exchange rates and decreased slightly on a reported basis.

Note: OIBDAN¹ calculation excludes approximately $15.7 million of incremental lease expense from sale-leaseback transactions related to the sale of certain broadcast communications tower sites and two office buildings and the amortization of deferred system implementation costs.

iHeartMedia, Inc. and Clear Channel Outdoor Holdings, Inc. Set Date for 2015 Fourth Quarter and Full Year Earnings Teleconference

SAN ANTONIO - Feb. 2, 2016 iHeartMedia, Inc. (OTCBB:IHRT) and its publicly traded subsidiary, Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), will release 2015 fourth quarter and full year results, including the results of iHeartCommunications, Inc. and Clear Channel International B. V., before the market opens on Thursday, February 25, 2016, and will host a conference call to discuss results the same day at 8:30 a.m. Eastern Time.

The conference call number is (866) 320-4708 (U.S. callers) and (651) 291-3820 (International callers) and the passcode for both is 385380. A live audio webcast of the conference call and the related earnings materials, including reconciliations of any non-GAAP financial measures to GAAP financial measures and any other applicable disclosures, will be available on the investor section of the iHeartMedia, Inc. website (www.iheartmedia.com) and the Clear Channel Outdoor Holdings, Inc. website (www.clearchanneloutdoor.com).

After the live conference call, a replay will be available for a period of thirty days. The replay numbers are (800) 475-6701 (U.S. callers) and (320) 365-3844 (International callers) and the passcode for both is 385380. An archive of the webcast will be available beginning 24 hours after the call for a period of 30 days.

About iHeartMedia, Inc./iHeartCommunications, Inc.

iHeartMedia, Inc (OTCBB: IHRT), the parent company of iHeartCommunications, Inc., is one of the leading global media and entertainment companies. The company specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners. The company is dedicated to using the latest technology solutions to transform the company’s products and services for the benefit of its consumers, communities, partners and advertisers, and its outdoor business reaches over 35 countries across five continents, connecting people to brands using innovative new technology.

About Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) is one of the world’s largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the United States. Clear Channel Outdoor Holdings offers many types of displays across its global platform to meet the advertising needs of its customers. This includes a growing digital platform that now offers over 1,050 digital billboards across 29 U.S. markets. Clear Channel Outdoor Holdings’ International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160202005621/en/

Source: iHeartMedia, Inc.

iHeartMedia, Inc.
Media:
Wendy Goldberg, 212-377-1105
Executive Vice President, Communications
or
Investors:
Brian Coleman, 210-832-3311
Senior Vice President and Treasurer

iHeartMedia, Inc. Reports Results for 2015 Third Quarter

Download the complete release here.

SAN ANTONIO - Nov. 5, 2015 iHeartMedia, Inc. (OTCBB:IHRT) today reported financial results for the third quarter ended September 30, 2015.

“We continue to leverage our entire company’s expansive portfolio of products, media platforms, content and personalities to enable advertisers and partners to engage seamlessly with consumers around the world,” said Bob Pittman, Chairman and Chief Executive Officer. “At iHeartMedia, we are building on the power of sound, social and mobile to redefine the future of consumer media and entertainment. In September, our fifth annual iHeartRadio Music Festival generated more buzz than ever with over 7 billion social media impressions, ahead of the Big Game Half Time Show for the third consecutive year and ahead of the Academy Awards. At outdoor, we continue to prove the value of outdoor to local, national and global advertisers through our industry-leading innovation and creativity.”

“We succeeded this quarter in delivering revenue growth across iHeartMedia, Americas outdoor and International outdoor,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “We continue to strengthen our capabilities across technology and sales, all through a lens of strong financial discipline. Additionally, our past proactive steps in addressing our capital structure needs and upcoming maturities enable us to focus on running the company as efficiently as possible.”

Download the complete release here.

• Revenues¹ up 2%, excluding FX impact (reported revenues down 2%)
• OIBDAN¹ up 3%, excluding FX impact (reported OIBDAN up 0.4%)

San Antonio, July 30, 2015 – iHeartMedia, Inc. (OTCBB: IHRT) today reported financial results for the second quarter ended June 30, 2015.

“We continue to differentiate ourselves in the marketplace with our unmatched portfolio of products, media platforms, content and personalities -- all built on the power of broadcast radio and out of home -- which give us the most powerful marketing vehicles available today,” Chairman and Chief Executive Officer Bob Pittman said. “We are building on the power of sound and social, the power of outdoor and the emerging power of digital to create even stronger marketing solutions for our partners, while providing the most live content and events to the industry’s most engaged audiences, wherever they are and on whatever device they want to use. We continue to find creative ways to use iHeartMedia’s cross-platform assets to redefine the future of consumer media and entertainment.”

“We’re pleased with the revenue and OIBDAN growth we achieved this quarter,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “We continue to invest in our capabilities across both iHeartMedia and outdoor to realize the full value of our multi-platform assets. With no significant debt maturities until 2018, we can continue focusing on growing the top and bottom lines across our business segments."

iHeartMedia, Inc. to Present at the 2015 Sterne Agee CRT Media & Internet Summit
 
San Antonio, June 5, 2015– iHeartMedia, Inc. (OTCBB: IHRT) along with its wholly-owned subsidiary, iHeartCommunications, and its publicly traded subsidiary, Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), announced today that Rich Bressler, President, Chief Operating Officer and Chief Financial Officer of iHeartMedia, Inc., will be the keynote speaker at the 2015 Sterne Agee CRT Media & Internet Summit in New York on Thursday, June 11, 2015 at 10:00 a.m. Eastern Time.  Sterne Agee CRT does not provide webcasting services for this event.

iHeartMedia, Inc. to Present at the 2015 Morgan Stanley Leveraged Finance Conference


San Antonio, May 28, 2015 – iHeartMedia, Inc. (OTCBB: IHRT) along with its wholly-owned subsidiary, iHeartCommunications, and its publicly traded subsidiary, Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), announced today that Rich Bressler, President, Chief Operating Officer and Chief Financial Officer of iHeartMedia, Inc., is scheduled to present at the 2015 Morgan Stanley Leveraged Finance Conference in New Orleans, Louisiana on Wednesday, June 3, 2015 at 1:00 p.m. Central Time. The live audio webcast as well as the replay will be available on the investor relations section of iHeartMedia, Inc.’s website at www.iheartmedia.com.

View the live webcast and replay here.