iHeartMedia, Inc.

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iHeartMedia, Inc.
Type Private
Traded as OTCQBIHRT
Industry Mass media
Predecessor(s) CC Media Holdings, Inc.
When it was created 2008
Headquarters San Antonio, Texas, United States
Key people Bob Pittman, Chairman/CEO[1]
Things made Radio broadcasting, outdoor advertising
Money earned Increase US$ 6.246 billion (2012)[2]
Operating income Increase US$ 1.070 billion (2012)[2]
Net income Decrease US$ -424.4 million (2012)[2]
Total assets
  • Decrease US$ 15.097 billion (2013) [3]
  • Decrease US$ 16.292 billion (2012) [3]
Total equity Decrease US$ -8.299 billion (2012)[2]
Owner(s) Bain Capital, LLC
Thomas H. Lee Partners, LP
Employees 20,800 (Dec 2012)[4]
Divisions iHeartMedia
(formerly Clear Channel Media and Entertainment)
Subsidiaries iHeartCommunications, Inc.
iHeartMedia and Entertainment, Inc.
iHeartMedia Capital I, LLC
Clear Channel Outdoor Holdings, Inc.
Website iheartmedia.com

iHeartMedia, Inc. (known in the past as CC Media Holdings, Inc.) is a radio organization that was established in 1972. It was then taken as a private company in 2008. It is the holding company of iHeartCommunications, Inc. (used to be known as Clear Channel Communications). It owns more than 850 AM radio and FM radio stations through the United States alone.

On September 16, 2014, CC Media Holdings changed their name to iHeartMedia, Inc., while Clear Channel Communications became iHeartCommunications, Inc.[5][6]

References[change | change source]

  1. Billboard staff (January 13, 2014). "Clear Channel's John Hogan Retires, Bob Pittman's Contract Extended". Billboard.com. Billboard. Retrieved July 29, 2014. ... Bob Pittman, chairman and CEO of CC Media Holdings... 
  2. 2.0 2.1 2.2 2.3 "CC Media Holdings, Inc. Revenue, Credit Rating, and Other Financial Data". Hoovers.com. Hoovers Inc. 2013. Retrieved August 31, 2013. 
  3. 3.0 3.1 "CLEAR CHANNEL COMMUNICATIONS INC 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 20, 2014. 
  4. "Clear Channel Communications, Form 10-K, Annual Report, Filing Date Feb 19, 2013". secdatabase.com. Retrieved Mar 26, 2013. As of December 31, 2012, we had approximately 15,000 domestic employees and approximately 5,800 international employees... 
  5. Sisario, Ben (September 16, 2014). "Clear Channel Renames Itself iHeartMedia, in an Embrace of the Digital". NYTimes.com. The New York Times Company. 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. Press Release (September 16, 2014). "Clear Channel Becomes iHeartMedia". ClearChannel.com. iHeartMedia, Inc. 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 17th. 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. 

Other websites[change | change source]