Company profile

Robert W. Pittman
Fiscal year end
Former names
BT Triple Crown Capital Holdings III, Inc., C C Media Holdings Inc, CC Media Holdings Inc
IRS number

IHRT stock data



7 Nov 19
13 Dec 19
31 Dec 19


Company financial data Financial data

Quarter (USD) Sep 19 Mar 19 Dec 18 Sep 18
Revenue 948.34M 1.38B 1.77B 920.49M
Net income 12.37M -114.38M 214.91M 70.08M
Diluted EPS 0.08 -1.34 2.51 0.82
Net profit margin 1.30% -8.28% 12.12% 7.61%
Operating income 140.82M 28.26M 387.22M 186.84M
Net change in cash -171.08M 224.09M -87.13M 49.4M
Cash on hand 277.05M 448.13M 224.04M 311.16M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 6.33B 6.17B 6.25B 6.24B
Net income -201.91M -398.06M -302.06M -754.77M
Diluted EPS -2.36 -4.68 -3.57 -8.96
Net profit margin -3.19% -6.45% -4.83% -12.09%
Operating income 980.52M 969.8M 1.5B 1.15B
Net change in cash -43.07M -577.92M 72.35M 315.65M
Cash on hand 224.04M 267.11M 845.03M 772.68M

Financial data from Iheartmedia earnings reports

Financial report summary

  • Chapter 11 Reorganization Risks
  • We filed for reorganization under Chapter 11 on March 14, 2018 and even though our Plan of Reorganization was confirmed by the Bankruptcy Court on January 22, 2019, we are still subject to the risks and uncertainties associated with the Chapter 11 Cases.
  • Although the Plan of Reorganization has been confirmed by the Bankruptcy Court it is subject to certain conditions for its effectiveness.
  • Operating under Chapter 11 may restrict our ability to pursue our business strategies.
  • The Chapter 11 Cases have required and will continue to require a substantial amount of time and attention of our senior management, which may have an adverse effect on our business and results of operations.
  • We may experience increased levels of employee attrition as a result of the Chapter 11 Cases.
  • Our ability to emerge from Chapter 11 and operate profitably thereafter will depend on our ability to secure exit financing or other capital.
  • Third parties may propose competing Chapter 11 plans of reorganization and we may receive unsolicited offers for the Company or our assets.
  • Even if the Plan of Reorganization is consummated, we will continue to face risks.
  • As a result of the Chapter 11 Cases, our historical financial information may be volatile and not be indicative of our future financial performance.
  • We may be subject to claims that will not be discharged in the Chapter 11 Cases.
  • Our cash flows may not provide sufficient liquidity during or after the Chapter 11 Cases.
  • We may not have sufficient cash to fund our operations and our emergence costs.
  • Our substantial indebtedness upon emergence from Chapter 11 may adversely affect our financial health and operating flexibility.
  • The Chapter 11 Cases may give rise to unfavorable tax consequences for us.
  • Transfers of our equity and issuances of equity in connection with the Chapter 11 Cases may impair our ability to utilize our federal income tax NOL carryforwards in future years.
  • CCOH’s substantial indebtedness could have a material adverse effect on CCOH’s performance and on our financial condition and liquidity.
  • Risks Related to Ownership of Our Class A Common Stock
  • Trading in our securities during the pendency of the Chapter 11 Cases is highly speculative and poses substantial risks.
  • Risks of trading in the Over-The-Counter Pink Market.
  • The equity that our current equity holders and creditors will receive pursuant to the Plan of Reorganization will be subject to dilution as a result of future issuances of our common stock.
  • We may terminate our Exchange Act reporting, if permitted by applicable law.
  • Risks Related to Our Business
  • Our results have been in the past, and could be in the future, adversely affected by economic uncertainty or deteriorations in economic conditions.
  • We face intense competition in our iHeartMedia and our outdoor advertising businesses.
  • Alternative media platforms and technologies may continue to increase competition with our broadcasting operations.
  • Our iHeartMedia business is dependent upon the performance of on-air talent and program hosts.
  • Our business is dependent on our management team and other key individuals.
  • Our financial performance may be adversely affected by many factors beyond our control.
  • The success of our street furniture and transit products businesses is dependent on our obtaining key municipal concessions, which we may not be able to obtain on favorable terms.
  • Future dispositions, acquisitions and other strategic transactions could pose risks.
  • Extensive current government regulation, and future regulation, may limit our radio broadcasting and other iHeartMedia operations or adversely affect our business and financial results.
  • Government regulation of outdoor advertising may restrict our outdoor advertising operations.
  • Regulations and consumer concerns regarding privacy and data protection, or any failure to comply with these regulations, could hinder our operations.
  • Restrictions on outdoor advertising of certain products may restrict the categories of clients that can advertise using our products.
  • Environmental, health, safety and land use laws and regulations may limit or restrict some of our operations.
  • We are exposed to foreign currency exchange risks because a portion of our revenue is received in foreign currencies and translated to U.S. dollars for reporting purposes.
  • Doing business in foreign countries exposes us to certain risks not expected to occur when doing business in the United States.
  • Cautionary Statement Concerning Forward-Looking Statements
Management Discussion
  • Our financial results for the periods from January 1, 2019 through May 1, 2019 and for the three and nine months ended September 30, 2018 are referred to as those of the “Predecessor” period. Our financial results for the three months ended September 30, 2019 and the period from May 2, 2019 through September 30, 2019 are referred to as those of the “Successor” period. Our results of operations as reported in our Consolidated Financial Statements for these periods are prepared in accordance with GAAP. Although GAAP requires that we report our results for the period from January 1, 2019 through May 1, 2019 and the period from May 2, 2019 through September 30, 2019 separately, management views the Company’s operating results for the nine months ended September 30, 2019 by combining the results of the applicable Predecessor and Successor periods because such presentation provides the most meaningful comparison of our results to prior periods.
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