Opposition filed to Liberty Media plans to increase iHeartMedia stake

In December 2019, it was reported that media group Liberty Media was seeking to increase its stake in radio and streaming group iHeartMedia – possibly to a level that would give it control of the latter company. Now a range of artist rights and consumer groups have written to the US Department of Justice outlining their opposition to […]

Some iHeartMedia staff furloughed as CEO foregoes his salary

Last week, we reported on US radio, live and streaming group iHeartMedia withdrawing its financial guidance for 2020 and drawing on $350m of a pre-agreed credit facility to tide it through the coronavirus pandemic. However, yesterday there were some more developments. Radio industry site RAMP got its hands on an internal memo revealing a range of cost-cutting measures to […]

iHeartMedia withdraws its financial guidance for 2020

It’s not so long since US radio firm iHeartMedia was in deep financial troubles, and while it pulled itself out of those last year, it’s understandably one of the companies being hit hard by the coronavirus pandemic. Now the company has followed Twitter in withdrawing its guidance for analysts (financial predictions) for 2020. “Given the ongoing uncertainty […]

iHeartMedia files for IPO and reveals figures for iHeartRadio

When Music Ally thinks about ideal preparations for going public, bankruptcy protection isn’t high on the list. But US radio group iHeartMedia is trumping our assumptions: this week, it filed to go public, in an IPO that could raise up to $100m. The news comes just a couple of months after the company won approval for […]

iHeartMedia boss on streaming: ‘We keep it in perspective’

There’s a view being put about that on-demand music-streaming services will ultimately kill radio – admittedly, it’s being put about mainly by on-demand music-streaming services for now. What do radio moguls think about it all? Bob Pittman, CEO of iHeartMedia, has been offering a counter-view. “Between 70 and 80 percent of Spotify users say the […]

iHeartMedia buys Radiojar to power ‘pop-up’ broadcasting

US radio group iHeartMedia has announced its latest acquisition: a Greek company called Radiojar, which offers “a centralised, cloud-based audio playout platform”. According to iHeartMedia, the deal gives it “a platform to easily combine or parse individual audio elements such as DJ voice tracks, music and broadcast spots to create, manage, distribute and monetise streams, […]

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