iHeartMedia Third Quarter 2022: Revenue Up, But Radio Flat
Radio was flat, digital was up again, and overall revenue rose for iHEARTMEDIA in third quarter 2022, with a 7% year-over-year revenue increase to $989 million, but GAAP operating income fell from $80 million to a loss of $211 million, which includes a $302 million non-cash impairment charge on the company's FCC licenses driven by increased interest rates. Adjusted EBITDA rose 10% to $252 million.The Multiplatform Group, which includes iHEART's radio properties, was flat at $660 million of ...