iHeartMedia announces executive departure

SAN ANTONIO, TX - iHeartMedia, Inc. (NASDAQ:IHRT), a major player in the radio broadcasting industry currently valued at $231 million, disclosed in a recent SEC filing that Jordan R. Fasbender, the company’s Executive Vice President, Chief Legal Officer, and Secretary, has resigned from her roles, effective around April 1, 2025. The company’s stock, currently trading at $1.51, has experienced significant volatility, with a 33% decline in the past week alone. The announcement, made public on March 5, 2025, follows Ms. Fasbender’s decision to accept a new position outside the company.

According to the filing, Fasbender’s departure is not due to any disagreements with iHeartMedia’s operations, policies, or practices. She will continue to serve in her current capacity until the effective date of her resignation to ensure a smooth transition of her responsibilities.

iHeartMedia, headquartered in San Antonio, Texas, operates under the organization name 06 Technology and has been a significant entity in the radio broadcasting sector, with a history of name changes including CC Media Holdings Inc and BT Triple Crown Capital Holdings III, Inc. According to InvestingPro analysis, the company operates with a significant debt burden of $5.86 billion and maintains a weak overall financial health score. For investors seeking deeper insights, InvestingPro offers 10+ additional expert tips and comprehensive financial analysis for IHRT.

The company has confirmed that the search for Fasbender’s successor will commence shortly, aiming to maintain the strong leadership structure within iHeartMedia. The transition plan and the search for a new executive will be overseen by the senior management team to minimize any potential disruption.

This executive movement comes at a time when the media landscape continues to evolve with technological advancements and shifting consumer preferences. iHeartMedia, with its extensive network of radio stations and digital platforms, remains a key influencer in the industry.

Investors and stakeholders are keeping a close watch on the company’s executive team as it navigates through the dynamic media environment. The market response to this announcement has yet to be fully realized, as the company prepares for this significant change in its executive ranks. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analysts setting price targets ranging from $2.50 to $5.00. Get access to the complete iHeartMedia Pro Research Report, along with in-depth analysis of 1,400+ other US stocks, exclusively on InvestingPro.

The information in this article is based solely on the statements made in the SEC filing by iHeartMedia, Inc.

In other recent news, iHeartMedia Inc. reported a 4.8% increase in consolidated revenues for Q4 2024, totaling $1.12 billion, which fell short of the forecasted $1.17 billion. The company saw an 18.2% rise in adjusted EBITDA, indicating operational efficiency despite the revenue miss. iHeartMedia’s digital audio and podcast segments experienced growth, with revenues rising by 6.7% and 6%, respectively. The company achieved its lowest net debt position, enhancing financial stability, though future guidance predicts flat revenue growth for 2025, which has stirred investor caution. Additionally, iHeartMedia completed a comprehensive exchange transaction that extended debt maturities and reduced overall debt, providing financial flexibility. Despite these developments, the company’s stock experienced a decline, reflecting concerns over the revenue miss and cautious guidance for 2025. CEO Bob Pittman emphasized the resilience of broadcast radio and the growth phase of podcasting, while CFO Rich Bresler expressed optimism about the company’s future. These recent developments highlight iHeartMedia’s focus on financial stability and operational efficiency amidst market challenges.

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