MediaCo Reports Strong Q3 Revenue Gains

RADIO ONLINE | Friday, November 21, 2025 | 3:46pm CT

MediaCo

MediaCo Holding Inc., owner of WQHT (Hot 97) and WBLS/New York, posted higher revenues and a return to positive adjusted EBITDA in the third quarter of 2025, driven by gains from the April 2024 Estrella acquisition and continued growth across its audio, video, and digital businesses.

For the third quarter ended September 30, net revenue rose 19% to $35.4 million. The company reported a net loss of $17.9 million, compared to net income of $54.9 million a year earlier, a swing primarily attributed to changes in the fair value of warrant shares liability. Adjusted EBITDA improved sharply to $2.1 million, compared to a loss of $112,000 in the prior-year period.

Year-to-date results reflected even stronger momentum. Net revenue increased 51% to $94.7 million, fueled largely by Estrella-related assets added in 2024. MediaCo posted a year-to-date net loss of $33.9 million versus net income of $2.9 million last year, also tied to changes in warrant share liability. Adjusted EBITDA reached $5.0 million year-to-date, compared to a loss of $4.6 million in the same 2024 period, as margins improved to 5%.

CEO and President Albert Rodriguez said the company delivered "tangible gains across virtually every facet of our strategic plan," citing a surge in digital revenue to $17 million-now representing 49.2% of total ad sales. Rodriguez emphasized ongoing cost discipline and resource allocation toward high-growth initiatives as MediaCo expands across multiple markets and platforms.

MediaCo also announced key leadership changes. CFO and Treasurer Debra DeFelice was promoted to Executive Vice President, and Brian Fisher was elevated to Chief Revenue Officer during the quarter.

Additionally, MediaCo appointed CEO Albert Rodriguez to its board of directors. Soo Kim, Founder of MediaCo and Standard General Managing Partner, said the appointment reflects "alignment with his vision and leadership approach" as the company accelerates its growth strategy.

Rodriguez, a 25-year media veteran and former President and COO of Spanish Broadcasting System, was honored earlier this year with the NAHJ's 2025 Visionary Award for industry leadership and innovation.