secwatch.observer — SEC 8-K summary
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Issuer:     iHeartMedia, Inc. (IHRT)
CIK:        0001400891
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001400891-24-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iHeartMedia Q3 revenue up 5.8% to $1.008B; announces $4.1B debt exchange and $200M cost savings
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- Q3 revenue $1,008M (+5.8% YoY); Adj EBITDA $205M, within guidance of $200M-$220M.
- Digital Audio Group revenue $301M (+13% YoY); Podcast revenue $114M (+11%).
- Announced debt exchange of $4.1B with ~80% of debt holders; maturities extended 3 years, cash interest flat.
- Cost programs expected to generate $200M annual savings in 2025; net benefit $150M to 2025 Adj EBITDA.
- FY2025 Adj EBITDA guidance ~$770M (+3% in non-political year); FY2024 ~$750M (+8%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400891/000140089124000034/0001400891-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400891/000140089124000034/ihm-20241107.htm
  HTML page:      https://secwatch.observer/filing/0001400891-24-000034

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