Texas-based iHeartMedia Inc. has filed for an initial public offering with the SEC to list its Class ‘A’ common stock, after more than 10 years of private ownership. The news comes as the company prepares to emerge from Chapter 11 bankruptcy reorganization it entered a year ago.
The filing does not include the number of shares or price, but includes a placeholder amount is $100,000,000.
The company owns 848 live broadcast stations, and estimates that it reaches 275 million listeners each month.
“Radio continues to offer consumers something different in the form of curated, personality-led audio,” the company stated in the filing. “The medium is able to offer influencers a word-of-mouth style conversation, which propels audience engagement and connection in a very effective way.”
Additionally, iHeart offers digital broadcasting and 20,000 live events per year, and is embracing newer popular technologies such as podcasts.
iHeartMedia acquired Stuff Media in 2018; Stuff Media includes the “Stuff You Should Know” program, which became the first podcast to reach the 500-million download mark on Apple Podcasts.
Goldman Sachs and Morgan Stanley are listed currently as underwriters to iHeart’s IPO. Read the full filing here.
Category: Featured
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Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at jnicholson@musicrow.com.View Author Profile
