Company: IHETW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001400891-25-000046
Chunk: 37

Company: iHeartMedia, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 37
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 the Company

Net loss attributable to the Company improved $898.2 million to $83.5 million during the three months ended June 30, 2025 compared to $981.7 million during the three months ended June 30, 2024, primarily due to the non-cash impairment charges of $920.2 million recognized in 2024.

Net loss attributable to the Company improved $635.5 million to $364.7 million during the six months ended June 30, 2025 compared to $1,000.2 million during the six months ended June 30, 2024. The improvement was primarily due to the non-cash impairment charges of $921.7 million recognized in the second quarter of 2024, partially offset by the $101.4 million gain recognized on the sale of our investment in BMI in the first quarter of 2024. 

Multiplatform Group Results

(In thousands)Three Months EndedJune 30,%Six Months EndedJune 30,%20252024Change20252024ChangeRevenue$544,598$575,907(5.4)%$1,017,576$1,069,370(4.8)%Operating expenses(1)448,234471,644(5.0)%851,205887,925(4.1)%Segment Adjusted EBITDA$96,364$104,263(7.6)%$166,371$181,445(8.3)%Segment Adjusted EBITDA margin17.7 %18.1 %16.3 %17.0 %

(1)Operating expenses consist of Direct operating expenses and Selling, general and administrative expenses, excluding Restructuring expenses. 

Three months

Revenue from our Multiplatform Group decreased $31.3 million compared to the prior year primarily due to a decrease in broadcast advertising in connection with continued uncertain market conditions. Broadcast revenue decreased $29.7 million, or 7.0%, year-over-year, driven by lower spot revenue. Networks increased $1.2 million, or 1.1%, year-over-year. Revenue from Sponsorship and Events decreased $2.6 million, or 6.7%, year-over-year. 

Operating expenses decreased $23.4 million, driven primarily by a decrease in employee compensation cost due to our modernization initiatives, as well as lower sales commissions related to the decline in broadcast revenue, partially offset by an increase in non