Company: IHETW
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001400891-25-000022
Chunk: 9

Company: iHeartMedia, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 9
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 #1                                   
 Podcast publisher in the             
 United States as measured by Podtrac |     | $3,855M                        
 in revenues for 2024           |     | 2X reach of the largest                                  
 TV Network and 4X                                        
 reach of the largest ad-                                 
 enabled streaming                                        
 audio player                                             |
| Most #1 ranked                       
 station groups                       
 across top 160 markets               
 and largest 50 markets               |     | 10%                            
 Increase in                    
 podcast revenues               
 in 2024                        |     | 9%                                                       
 Increase in                                              
 digital revenues                                         
 in 2024                                                  |

#### 2024 Business Performance & Highlights
2024 was a year of significant strategic importance for the Company. The Company successfully completed the exchange of approximately $4.8 billion (or 92%) of its aggregate principal amount of outstanding debt, transforming the Company's capital structure. Additionally, the Company's relentless focus on cost efficiencies and disciplined capital management resulted in a cost program that is expected to generate a net $150 million of year-over-year savings in 2025. The Company also generated year-over-year increases for both consolidated revenue and Adjusted EBITDA, as well as continued growth in digital, including podcasting. Highlights include:

• Consolidated revenue increased 3% to $3.9 billion, from $3.8 billion in the prior year.

• Digital Audio Group revenue increased 9% as compared to the prior year, including a 10% increase in Podcast Revenue.

• Multiplatform Group revenue decreased 3% as compared to the prior year.

• Consolidated operating loss decreased to $763 million from a consolidated operating loss of $797 million in the prior year.

• Consolidated net loss was $1.0 billion compared to a net loss of $1.1 billion in the prior year.

• Consolidated Adjusted EBITDA 1 increased 1% to $706 million, from $697 million in the prior year.

• Cash flows from operating activities decreased 66% to $71 million, from $213 million in the prior year.

• Adjusted Free Cash Flow 1 was essentially flat at $109 million, compared to $110 million in the prior year.

• Cash balance and total available liquidity 2 of $260 million and $686 million, respectively, as of December 31, 2024.

• Completed exchange of approximately $4.8 billion (or 92%) of the Company's outstanding debt, resulting in the extension of the