iHeartMedia's second-quarter 2015 revenue of $697.8 million was 4.1 percent higher than one year ago when it took in $670.3 million. CFO Richard Bressler said automotive, food and beverage, and entertainment were the three best-performing categories in the quarter. He also said traffic and weather, and syndication businesses, specifically singling out the news/talk format as doing well. Bressler said, according to Miller-Kaplan, iHeartMedia was up 4 percent in markets the radio industry was down 3 percent. For the second quarter, the company is pacing up 3.8 percent. In 2014, iHeart had $20.3 billion debt and $457 million in cash. In 2015 it has $20.486 billion in debt and $289 million in cash.
(5/1/2015 1:37:25 AM)
So...bottom line... in one year Clear Channel's debt increased by 189 million dollars, and their cash on hand decreased by 200 million. Sounds like a 5 alarm fire to me!
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