iHeartMedia Announces It Has Been Approved for Listing on the NASDAQ Global Select Market

New York, NY -- June 28, 2019 – iHeartMedia, Inc. (OTC PINK: IHTM) today announced that its Class A common stock has been approved for listing on the NASDAQ Global Select Market. Upon listing, iHeartMedia’s Class A common stock will trade under the ticker “IHRT.”

As previously announced, iHeart had been evaluating all paths to achieve a listing of its Class A common stock on a recognized U.S. stock exchange following emergence from its restructuring process. iHeartMedia has determined that a listing on the NASDAQ Global Select Market is the optimal strategy for iHeartMedia and all of the company’s stakeholders.

As a result, the Company has requested the withdrawal of its previously filed registration statement on Form S-1 with the U.S. Securities and Exchange Commission. iHeartMedia’s management team will be meeting with investors the week of July 15 in advance of a listing date of July 18, 2019.

“This is an exciting time for our company and an important step in the evolution of iHeartMedia. Our listing on the NASDAQ will provide greater liquidity for existing shareholders, allow us to diversify our investor base, and give us improved access to public capital markets in the future,” said Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia, Inc.

 

About iHeartMedia, Inc.

iHeartMedia (NASDAQ: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups.

With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the company’s live and virtual events business. It also includes Premiere Networks, the industry’s largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base.

The iHeartMedia Digital Audio Group includes the company’s fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500 platforms and 2,000 devices; the company’s digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.

The company’s Audio & Media Services reportable segment includes Katz Media Group, the nation’s largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.

Visit iHeartMedia.com for more company information.