The numbers don’t lie.
The final three months of 2020 were punishing for iHeartMedia, which enters March 2021 with the need for a new EVP of Programming for its highly important Los Angeles radio cluster and a long-term plan to replace The Rush Limbaugh Show.
How exactly was Q4 for the company led by Bob Pittman and Rich Bressler?
Net income was down 95% year-over-year as adjusted EBITDA declined by 13%.
Despite the rather dour Q4 results, Pittman struck a positive tone on the company’s quarterly earnings call held following the Closing Bell on Wall Street Thursday.
With the Q4 and 2020 financial results for iHeartMedia released following the Closing Bell on Thursday, the company says it is implementing a new operational structure that will now have its financials reported in two separate segments – digital audio and multiplatform, which includes all radio stations. CLICK HERE FOR THE FULL STORY.