iHeartMedia Denies Plans to Sell Podcast Business

RADIO ONLINE | Thursday, November 12, 2026 | 1:58pm CT

iHeartMedia

iHeartMedia says it has no plans to sell its podcast business after Bloomberg reported that the company was exploring a sale of part or all of the operation to raise cash and bolster its share price.

Bloomberg, citing people familiar with the matter, said iHeartMedia had held preliminary talks with investment bank Moelis & Co. and potential investors. The report said the discussions might not lead to a deal. A Moelis representative declined to comment.

"While we don't generally comment on rumors or speculation, I can tell you that we have no plan to sell our podcasting business," an iHeartMedia spokesperson told Bloomberg. The spokesperson called podcasting a core area for growth and said the company continues to invest in it, including in video podcasts.

iHeartMedia shares rose by double digits Wednesday following the Bloomberg report. Seeking Alpha reported that the stock had plunged 65% Tuesday after the company released its third-quarter results.

Podcast revenue rose 24.6% year over year to $174 million in the third quarter, exceeding company guidance. Companywide Adjusted EBITDA fell 17% to $170.5 million. Chairman and CEO Bob Pittman cited weaker-than-expected political advertising on radio and some advertisers delaying spending until after the election.

On the earnings call, Pittman said iHeartMedia plans to report podcasting as a standalone segment beginning in 2027, separating its results from the Digital Audio Group. He said the change would give investors a clearer view of the company's four segments.