IHeartMedia

iHeartMedia, Inc.
Formerly
  • CC Media Holdings, Inc.
  • (iHeartMedia, Inc. holding company)
Company typePublic
Nasdaq: IHRT (Class A Common Stock)
Industry
Founded
  • 1972; 52 years ago (1972) (Clear Channel Communications subsidiary)
  • 2014; 10 years ago (2014) (iHeartMedia, Inc. holding company)
Founders
Headquarters
San Antonio, Texas
,
U.S.
Key people
Bob Pittman (chairman and CEO)
Rich Bressler
(President, Chief Operating Officer and Chief Financial Officer; CEO, Multiplatform Group)
Conal Byrne
(CEO, Digital Audio Group)
Decrease US$506.7 million (2019)[1]
Increase US$113 million (2019)[1]
Total assetsDecrease US$11 billion (2019) [1]
Total equityIncrease US$2.9 billion (2019)[1]
Number of employees
9,588[2] (2021)
DivisionsiHeartMedia (sans "Inc." suffix; formerly Clear Channel Media and Entertainment, Clear Channel Radio, et al.)
Subsidiaries
  • Broader Media, LLC
  • iHeartCommunications, Inc.
  • iHeartMedia and Entertainment, Inc.
  • iHeartMedia Capital I, LLC
  • Voxnest, Inc.
Websiteiheartmedia.com

iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas.[2] It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008.

As a result of the 2008 buyout, Clear Channel Communications, Inc. became a wholly owned subsidiary of CC Media Holdings, Inc.[3][4] On September 16, 2014, CC Media Holdings, Inc. was rebranded iHeartMedia, Inc., and Clear Channel Communications, Inc., became iHeartCommunications, Inc.[5][6]

  1. ^ a b c d "iHeart Media 10K 2019" (PDF). iHeartMedia. Retrieved January 16, 2021.
  2. ^ a b "iHeartMedia". Fortune. Archived from the original on December 31, 2018. Retrieved July 26, 2021.
  3. ^ "CLEAR CHANNEL COMMUNICATIONS INC (Form Type: 8-K, Filing Date: 07/22/2008)". secdatabase.com. Archived from the original on July 14, 2014. Retrieved January 12, 2016.
  4. ^ Peker, Emre (February 7, 2011). "Clear Channel Seeks Amendment to Refinance LBO Debt". Bloomberg. Archived from the original on July 12, 2012.
  5. ^ Sisario, Ben (September 16, 2014). "Clear Channel Renames Itself iHeartMedia, in an Embrace of the Digital". The New York Times. Archived from the original on September 17, 2014. Retrieved September 16, 2014. CC Media Holdings, for example, the overall corporation, will be renamed iHeartMedia Inc., and Clear Channel Communications, its major subsidiary, will become iHeartCommunications.
  6. ^ "Clear Channel Becomes iHeartMedia". ClearChannel.com (Press release). iHeartMedia. September 16, 2014. Archived from the original on September 18, 2014. Retrieved September 16, 2014. Effective today, CC Media Holdings, Inc. (OTCCB: CCMO) will become iHeartMedia, Inc. In connection with the company's new brand, the company's ticker symbol will also change, effective September 17. Of the company's major businesses, Clear Channel Media and Entertainment will become iHeartMedia; other company brands, including iHeartRadio, Premiere Networks, Total Traffic and Weather Network, Katz Media Group and RCS, will retain their current names.