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If you wrote off iHeartMedia as dead on arrival last year, you might have made the call too soon.
Saddled with debt and a bad capital structure, the company filed for bankruptcy in March 2018. But last month, the radio giant gained court approval for a plan that would cut about $10 billion of debt and allow it to emerge from bankruptcy within the first half of this year.
Leading the charge is iHeartMedia CEO Bob Pittman, who joined the company as an investor in 2010. His mandate was simple: completely transform the company.
“At the time it was called Clear Channel, it was a radio company. Let’s fix the capital structure,” says Pittman on the latest episode of the Ad Lib podcast. “On the transformation side we really took it into a complete multiplatform company. If you look at the other players in audio today they all basically are…
