iHeartMedia First Quarter Revenue Rises As Emergence From Bankruptcy Nears

Q1 Results

iHEARTMEDIA consolidated revenue rose 0.9% year-to-year for first quarter 2019 to $1,381,899,000, according to the company's 8-K filing as it prepares to emerge from bankruptcy.  iHEART's primary division, the broadcast and digital iHEARTMEDIA company, saw a 2.9% increase to $765,810,000; the overall consolidated revenue figures include the outdoor and other operations that are being spun off as separate companies.

Consolidated operating income fell 53.6% to $28,260,000, but the iHEARTMEDIA division had a 29.6% increase to $160,550,000.  Consolidated OIBDAN increased 9.4% to $238,784,000, while the iHEARTMEDIA division was up 4.8% to $190,967,000.

As ALL ACCESS reported YESTERDAY (NET NEWS 4/24), iHEARTMEDIA has won FCC approval to restore its licenses to full status from debtor-in-possession status.

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