iHeartMedia’s podcast network was recently ranked No. 2 among U.S. publishers. The division’s revenue was up 24% last quarter. Would the media company really consider selling it off?
iHeart denied a Wednesday Bloomberg report that it was in discussions to sell its podcasting arm in an effort to raise cash and boost its stock price.
It is part of the aftermath iHeart is facing following its third-quarter earnings call on Monday. iHerat’s share price fell as much as 66% during midday trading on Tuesday. According to Bloomberg, the price of its high-yield bond due in May 2029 tumbled by more than 20 cents this week, a move rarely seen across credit markets.
iHeartMedia’s shares rebounded by 13% by the close of Wednesday after Bloomberg indicated that iHeart had held preliminary discussions with investment bank Moelis & Co. and potential investors regarding a sale of part or all of its podcast business.
But iHeart denied those discussions took place.
“I can tell you that we have no plan to sell our podcasting business,” an iHeart spokesperson told The Hollywood Reporter.
As we reported, the company’s third-quarter revenue was up 3.3% year over year. But that figure fell short of the $1.07 billion analyst consensus.
Even more alarming in financial circles, iHeart’s full-year 2026 adjusted EBITDA guidance was adjusted downward to between $550 million and $600 million. That projection was originally around $800 million.
The podcast division remains a bright spot for the company. iHeart President and COO Rich Bressler said the media company expects to establish podcasting as a separate reporting segment sometime next year.
“It will provide greater insight into its financial performance and make it easier to fully value all four of our segments and our entire company,” Bressler said in the Monday earnings call.
iHeartMedia operates approximately 860 U.S. AM and FM radio stations.
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