iHeartMedia to Save $200M Annually Through Cost Cuts, Embrace of Technology ...Middle East

As iHeartMedia  deals with weak advertising trends and another round of layoffs, the country’s largest broadcast radio company will save $200 million in 2025 compared with 2024 and has renegotiated 80% of its long-term debt, the company revealed on Thursday (Nov. 7) in its third-quarter earnings release.   The debt “exchange offers,” which are expected to close by the end of the year, will extend the majority of iHeartMedia’s debt maturities by three years, allow cash interest expense to “remain essentially flat,” and provide for “some overall debt reduction,” CEO Bob Pittman said during an earnings call. “The transa

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