iHM Memo Rallies Staff, Reorganization Hearing Delayed

RADIO ONLINE | Thursday, December 6, 2018 | 10:57pm CT

iHeartMedia Chairman/CEO Bob Pittman and President, COO and CFO Rich Bressler have sent a memo to its employees in advance of the company's emergence from Chapter 11 bankruptcy on how to interpret press and public reaction to the company's restructuring. In the memo, they write, "there continues to be a lot of press around our restructuring so we wanted to send you an update to give you some perspective on it." They went on to cite a number of facts to bolster the company's image. These included:

• Being "the number one audio company in America" with "greater reach than any media property in the U.S., including Facebook and Google," or abount 91% of Americans each month
• An audience "twice the size of the next radio competitor and seven times their size in digital audience" and twice the "social footprint" of Netflix
• "The number one commercial podcasting company by a wide margin"
• "A consumer master brand that stands alone in the audio space"
• "A unique position on smart speakers"
• "The only audio company that has a significant presence on Youtube and Snapchat"
• Data analytics, programmatic, and attribution tools equal to digital players

The memo concluded, "When you hear that people are interested in iHeartMedia in any form, take it as a compliment. It's validation of our strong operating business and the unique position we have in the media business, and how our value increases once we have fixed our debt issues. We are truly a one of a kind company, and let's never forget that we've gotten here through hard work and great thinking from you and everyone else on our team."

In related news, a stipulation submitted to U.S. Bankruptcy Court reveals that iHM and major creditor Wilmington Savings Fund Society are still working out iHM's emergence from Chapter 11. As a result, the hearing date for the reorganization plan was moved from December 11 to a future unspecified date.

Urban One Expands Dallas Footprint with KKDA, KRNB Urban One Urban One has reached an agreement to acquire Service Broadcasting Group, including Dallas stations KKDA and KRNB, while also agreeing to sell KZMJ to Fuzion Dallas. Both transactions remain subject to approval by the FCC and customary closing conditions. The company said the More

NAB Opens 2026 Marconi Awards Nominations Marconi Radio Awards The National Association of Broadcasters (NAB) has opened the nomination window for the 2026 Marconi Radio Awards, with entries accepted through May 31. Winners will be announced during a special dinner program sponsored by Xperi on October 20 at the Edison Ballroom. The event More

Whitten Named Program Director of Indie 102.3 Jessi Whitten Colorado Public Radio (CPR) has appointed Jessi Whitten as Program Director of Indie 102.3, its independent music service, effective June 8. Whitten brings more than a decade of experience in radio programming, artist development and community engagement. She previously served as Music Director for CPR's More

Mercedes Rich Upped to APD at Life 107.1 Des Moines Mercedes Rich KNWI (Life 107.1) in Des Moines has promoted Mercedes Rich to Assistant Program Director, effective April 27. She will continue to host afternoons on the station. Rich joined the station in March 2025 as Creative Services Director and has since taken on a larger role within the organization. In her new More

SiriusXM Q1 Revenue Up, Profit Jumps 20% SiriusXM Sirius XM Holdings reported first-quarter 2026 revenue of $2.09 billion, up 1% year-over-year, while net income rose 20% to $245 million, according to its latest earnings release. Adjusted EBITDA increased 6% to $666 million, and free cash flow more than tripled to $171 million, More

Curtis Media to Acquire Coastal NC Radio Cluster Curtis Media Group A deal has been reached for Curtis Media Group to acquire a group of North Carolina radio outlets from Capitol Broadcasting Company, with an application to be filed with the FCC. The transaction includes 100kW WRMR-FM (98.7) in Jacksonville, NC; 0.8kW WMFD-AM (630) and translators W269DF-FX (101.7) and More