iHeartMedia, Inc.

iHeartMedia, Inc.

iHeartMedia, Inc.

Overview
Date Founded

1972

Headquarters

200 East Basse Road,Suite 100,San Antonio, TX 78209-8328

Type of Company

Public

Employees (Worldwide)

18.3K

Industries

Cable, Satellite, and Radio Telecommunications
Pension Funds & Sovereign Wealth
Media Conglomerates
Holding Companies
Entertainment
Computer Software
Advertising & Marketing

Company Description

iHeartMedia, Inc. is an audio company, which engages in the provision of media and entertainment services. It specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment, and information services. It operates through the following segments: iHeartMedia (iHM), Americas Outdoor Advertising, International Outdoor Advertising, and Other. The iHM segment provides media and entertainment services via broadcast and digital delivery and includes its national syndication business. The Americas and International Outdoor Advertising segment consists outdoor advertising services in respective geographic regions using various digital and traditional display types. The Other segment refers to the media representation business, Katz Media Group, which is ancillary to its other businesses. The company was founded by L. Lowry Mays and B. J. McCombs in 1972 and is headquartered in San Antonio, TX.

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Executives & Employees

Chairman & Chief Executive Officer

Senior Vice President, Chief Accounting Officer & Assistant Secretary

President & Chief Financial Officer

Deputy Chief Financial Officer & Executive Vice President-Finance

Secretary, Executive Vice President & General Counsel

Chief Marketing Officer & Executive Vice President

Executive Vice President & Chief Communications Officer

Chief Privacy Officer

Global Chief Information Security Officer

President, Entertainment Enterprises

Board of Directors

Chairman & Chief Executive Officer at iHeartMedia, Inc.

President & Chief Financial Officer at iHeartMedia, Inc.

Founder at Altimeter Capital Management LP

Former Partner at Goldman Sachs & Co. LLC

Founder at Drawbridge, Inc.

Co-Chairman & Chief Executive Officer at Spyglass Entertainment Holdings LLC

Senior Executive Vice President at The Walt Disney Co. Foundation

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iHeartMedia, Inc.
Owners & Shareholders
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PIMCO combines top-down macroeconomic forecasting with rigorous bottom-up credit analysis in their investment process. Their cyclical and secular economic forums drive the top-down element of their investment process which begins with an annual secular forum in which investment professionals from all their offices convene. Industry experts give presentations on various global economic and financial topics, followed by discussions among PIMCO's investment professionals regarding the outlook for the global economy and interest rates over the next 3 to 5 years. Then, the investment professionals collectively determine a bullish, neutral or bearish outlook. PIMCO's bottom-up research on individual securities considers such factors as finances, credit quality, call risks and structures. In addition, the firm is a signatory to the United Nations-backed Principles for Responsible Investment (UNPRI). The UNPRI recognizes that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios, and must be given appropriate consideration by investors. Accordingly, PIMCO has formally incorporated ESG factors into their investment process when evaluating the long-term sustainability of a company.

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Invesco Senior Secured Management (ISSM) manages a range of US and European bank loan and credit opportunity products including unleveraged, moderately leveraged and highly leveraged portfolios in the form of commingled funds, separately managed accounts and CLOs. The firm employs a fundamental, credit-driven approach that evaluates default risk and principal preservation. They use a proprietary rating assigned to each investment that is intended to reflect their view on value at risk. Investment selection and portfolio construction seeks to balance the identified value against the specified investment objective of each managed fund. ISSM participates in the below investment grade market. The firm employs a fundamental, credit driven approach to evaluate default risk and principal protection expressed as a function of value at risk. Ultimate credit selection seeks to balance yield and fundamental risk factors against the specified return objectives of each investment vehicle.

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BCM utilizes a variety of resources or services to form an investment idea or strategy. From quantitative and qualitative points of view, the firm researches and screens investment ideas. Research typically includes reviewing the prospectus of a company as well as financial statements and regulatory filings. They often seek to speak with company management, analysts and seasoned sales professionals at major broker-dealers, third party industry experts, and others industry participants. BCM also generates ideas by reviewing industry reports and having discussions with third party industry experts. They develop and closely review internal valuations for potential investment targets, including asset coverage, free cash flow, and overall likelihood and severity of default.

Recent Transactions
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RCS, Inc., iHeartMedia, Inc. purchase Radiojar Information Technology SA from PJ Tech Catalyst Management A.E.

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iHeartMedia, Inc. purchases Jelli, Inc. from Intel Capital Corp., First Round Capital, TriplePoint Ventures LLC, Relay Ventures, VoiVoda Ventures

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CTS Eventim AG & Co. KGaA purchases Friends & Partners SRL from iHeartMedia, Inc.

Transaction Advisors
Escrow Agent

Advised oniHeartMedia, Inc., iHeartCommunications, Inc. purchase Westwood One, Inc. /Metro Traffic Division from Westwood One, Inc. (Inactive), The Gores Group LLC

Legal Advisor

Advised oniHeartMedia, Inc. purchases Jelli, Inc. from Intel Capital Corp., First Round Capital, TriplePoint Ventures LLC, Relay Ventures, VoiVoda Ventures

Advisors & Consultants
Legal Advisor

Partner at Proskauer Rose LLP

Legal Advisor

Partner at Wilson Sonsini Goodrich & Rosati PC

Legal Advisor

Partner at Davis Polk & Wardwell LLP

Clients

Spotify Technology SA is a digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with an ad-supported, free-to-the-user model and a premium, paid model. It provides a marketplace for additional products such as live events and music downloads. The company was founded by Daniel Ek and Martin Lorentzon in 2006 and is headquartered in Luxembourg.

BCE, Inc. is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers. The Bell Wireline segment offers data, including Internet access and Internet protocol television, local telephone, long distance, as well as other communications services and products to residential, small and medium-sized business, and large enterprise customers. The Bell Media segment includes conventional, specialty and pay television, digital media, radio broadcasting services, and out-of-home advertising services. The company was founded on February 25, 1970 and is headquartered in Verdun, Canada.

Radio One, Inc. is an urban-oriented, multi-media company that primarily targets African-American and urban consumers. Our core business is our radio broadcasting franchise that is the largest radio broadcasting operation that primarily targets African-American and urban listeners. We currently own and operate 55 broadcast stations located in 16 urban markets in the United States. Our operating strategy is to operate the premier multi-media entertainment and information content provider targeting African-American and urban consumers. Thus, we have diversified our overall media platform by making acquisitions and investments in other complementary media properties. Our other media interests include our approximately 51% controlling ownership interest in TV One, LLC (“TV One”), an African-American targeted cable television network (www.tvoneonline.com ); our 53.5% ownership interest in Reach Media, Inc. (“Reach Media”), which operates the Tom Joyner Morning Show (www.reachmediainc.com); our ownership of Interactive One, LLC (“Interactive One ”), an online platform (www.interactiveone.com) serving the African-American community through social content, news, information, and entertainment, which operates a number of branded sites, including NewsOne, TheUrbanDaily and HelloBeautiful ; and our ownership of Community Connect, LLC, an online social networking company, which operates a number of branded websites, including BlackPlanet, MiGente and Asian Avenue. Through our national multi-media presence, we provide advertisers with a unique and powerful delivery mechanism to the African-American and urban audience. Our market portfolio includes stations in Atlanta, Baltimore, Charlotte, Cincinnati, Cleveland, Columbus, Dallas, Detroit, Houston, Indianapolis, Philadelphia, Raleigh-Durham, Richmond, St. Louis and Washington D.C.

Key Stats and Financials As of 2018
Market Capitalization
$1.13B
Total Enterprise Value
Earnings Per Share
$-2.36
Revenue
$6.33B
Net Profit
$-202M
EBITDA
$1.56B
EBITDAMargin
24.65%
Total Debt
$5.32B
Total Equity
$-11.6B
Three Year Compounded Annual Growth Rate Of Revenue
0.45%
Five Year Compounded Annual Growth Rate Of Revenue
0.26%
Non-Profit Donations & Grants
$5,000 - $10K
2017
$1,000 +
2015
Investments
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Ozy Media, Inc. operates a daily news and culture site. The firm specializes on providing news and information about people, places, trends, ideas, and opinions. The company was founded by Samir Rao and Carlos Watson on November 8, 2012 and is headquartered in Mountain View, CA.

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Autolotto, Inc. operates as an online lottery management system and social network for lottery. The company was founded on March 9, 2015 and is headquartered in San Francisco, CA.

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Unified Social, Inc. provides marketing technology services related to advertising, financial services, and social media markets. It offers managed advertising and professional data services. The company was founded by Jason Beckerman, Josh Backer and Sheldon Owen in 2011 and is headquartered in New York, NY.

Investors
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Co-Founder at Jelli, Inc.

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Chief Executive Officer, AppViewX at Payoda, Inc.

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Co-Founder, Chief Technology Officer at Jelli, Inc.

Suppliers
Nielsen Holdings Plc IT Consulting & Services | New York, NY

Nielsen Holdings Plc engages in the provision of global marketing data collection and analytics services. It operates through the Watch and Buy segment. The Watch segment offers services to media and advertising clients and audience measurement services. The Buy segment provides consumer packaged goods to manufacturers and retailers. The company was founded by Arthur C. Nielsen in 1923 and is headquartered in New York, NY.

Entravision Communications Corp. Media Conglomerates | Santa Monica, California

Entravision Communications Corp. engages in the provision of media and marketing solutions, and data analytics services. It operates through the following segments: Television Broadcasting, Radio Broadcasting, and Digital Media. The Television Broadcasting segment offers an entertainment, news, and national news magazine, as well as local news produced by its tv stations. The Radio Broadcasting segment sells advertisements and syndicates radio programming through Entavision Solution. The Digital Media segment delivers mobile, digital, and other interactive media platforms and services on internet-connected devices, including local websites and social media. The company was founded by Walter F. Ulloa and Philip C. Wilkinson in January 1996 and is headquartered in Santa Monica, CA.

Rapid7, Inc. Computer Software | BOSTON , MA

Rapid7, Inc. engages in the provision of cyber security analytics and automation services. Its product includes insight platform, which offers InsightVM, InsightIDR, InsightAppSec, and InsightConnect. The company was founded by Alan P. Matthews, Tas Giakouminakis and Chad Loder in July 2000 and is headquartered in Boston, MA.

Competitors
Facebook, Inc. Internet Software & Services - MENLO PARK, CA

Facebook, Inc. operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online. The firm's products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. Facebook was founded by Mark Elliot Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park, CA.

Fox Corp. Cable, Satellite, and Radio Telecommunications - New York, NY

Fox Corp. delivers compelling news, sports and entertainment content. The company provides news under the brands FOX News, FOX Business, FS1, FS2, Big Ten Network, FOX Network and FOX Television Stations. It empowers a diverse range of creators to imagine and develops culturally significant content, while building an organization that thrives on creative ideas, operational expertise and strategic thinking. The company was founded on May 3, 2018 and is headquartered in New York, NY.

Comcast Corporation Entertainment - Philadelphia , PA

Comcast Corporation (Nasdaq: CMCSA, CMCSK) is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is the nation’s largest video, high-speed Internet and phone provider to residential customers under the XFINITY brand as well as to businesses. NBCUniversal operates 30 news and entertainment cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures and Universal Parks & Resorts.

Awards & Honors
Rank #414
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #414
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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