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.

BIA Raises 2026 Ad Forecast, Radio Holds Steady BIA Advisory Services BIA Advisory Services has increased its 2026 U.S. local advertising forecast, projecting total spending to reach $184.5 billion, an 8.1% year-over-year gain, with radio maintaining a stable position in a rapidly evolving media mix. The revised outlook reflects stronger-than-expected growth in digital More

WTOP Promotes Woodfork to Senior Sports Analyst Rob Woodfork Hubbard Radio's WTOP/Washington, DC has promoted Rob Woodfork to Senior Sports Analyst as part of a broader effort to expand and reshape its local sports coverage. The move aligns with the station's three-year strategy to move "beyond the scores," placing greater emphasis on in-depth analysis, commentary More

Seaboard Adds ''Interactive Party'' to Syndication Seaboard Networks Seaboard Networks continues to expand its programming lineup with the addition of CHR/Hot AC show "The Interactive Party with Scott Evans." The program, which currently airs on a mix of FM and online stations nationwide, is now being offered through Seaboard to terrestrial, LPFM, non-profit and Internet More

Disgraceland, Hollywoodland Join ERM/iHeart Slate Disgraceland Exactly Right Media (ERM) and iHeartPodcasts have added Jake Brennan's "Disgraceland" and its spin-off "Hollywoodland" to their joint podcast slate, expanding their partnership in the true crime and entertainment space. Both shows will continue to be produced by Double Elvis, with ERM and iHeartPodcasts More

SBS Reaches Deal to Restructure Debt, Files Chapter 11 Spanish Broadcasting System (SBS) Spanish Broadcasting System (SBS) has entered into a restructuring support agreement with a group of bondholders holding more than 72% of its outstanding senior secured notes, outlining a plan to significantly reduce debt and reposition the company for long-term growth. Under the More

Beasley Broadcast Q4 Revenue Falls, Posts Large Loss Beasley Media Group Beasley Broadcast Group reported a sharp decline in fourth quarter revenue and a significant net loss, driven largely by a major non-cash impairment charge, according to its latest financial filing. Net revenue for the fourth quarter ended December 31, 2025 fell 21.1% to $53.1 More