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In a recent Securities and Exchange Commission filing, iHeartMedia (NASDAQ:IHRT), Inc. (current market cap: $178.07M) reported the outcomes of its 2025 Annual Meeting of Stockholders held on May 13, 2025. According to InvestingPro data, the company faces significant challenges with a total debt of $5.83B and negative earnings over the last twelve months. The meeting saw the election of eight directors to the company’s board and the ratification of Ernst & Young LLP as the independent auditor for the fiscal year ending December 31, 2025.
The elected board members, serving one-year terms until the 2026 Annual Meeting, include Robert W. Pittman, James A. Rasulo, Richard J. Bressler, Samuel E. Englebardt, Robert Millard, Cheryl Mills, Graciela Monteagudo, and Kamakshi Sivaramakrishnan. The shareholders’ votes were cast in favor of all nominees, with a majority voting for and a smaller portion withheld. There were no broker non-votes for the director elections.
Additionally, the appointment of Ernst & Young LLP was met with overwhelming approval, with 104,874,849 votes for, 819,846 against, and 75,118 abstentions. There were no broker non-votes for this proposal.
The third proposal, which was an advisory vote on the compensation of the company’s named executive officers, also passed. The affirmative votes numbered 68,566,011, with 25,004,190 against and 15,844 abstentions. This proposal also included 12,183,768 broker non-votes.
The definitive proxy statement provided details of the proposals considered at the Annual Meeting. The results indicate shareholders’ support for the current board’s direction and the company’s choice of independent auditor. The filing, made public on May 19, 2025, ensures transparency and compliance with SEC regulations. InvestingPro analysis reveals that while the company maintains adequate liquidity with a current ratio of 1.59, its overall financial health score remains fair. Subscribers can access 8 additional ProTips and a comprehensive financial health analysis in the Pro Research Report. The information is based on a press release statement.
In other recent news, iHeartMedia reported a slight increase in revenue for the first quarter of 2025, with a 1% year-over-year rise, totaling $807.1 million, surpassing the forecast of $789.96 million. The company’s adjusted EBITDA remained stable at $105 million. Despite these positive results, iHeartMedia’s guidance for the second quarter suggests potential revenue challenges, with expectations of a low single-digit decrease in consolidated revenue. Goldman Sachs maintained a Neutral rating on iHeartMedia, raising the price target to $1.25, acknowledging strong podcasting revenue growth but noting challenges in the advertising market. The firm’s projections for 2025 revenue and adjusted EBITDA have been slightly reduced due to weaker-than-expected second-quarter guidance. Podcast revenue saw a significant 28% growth, while non-podcast digital revenues increased by 8.7%. However, declines in traditional advertising sectors, such as restaurants, auto, and gambling, remain a concern. iHeartMedia’s net debt stands at approximately $4.6 billion, highlighting ongoing financial risks.
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