iHeartMedia, Cumulus Report Q2 2015 Financials
iHeartMedia, Inc.'s consolidated net loss for Q2 2015 was $412 million compared with $304 million over the same period last year. Revenues for the quarter were up 2% from 2014 to $1.7 billion. iHeartMedia revenues increased 4%, driven primarily by the company's local and national broadcast ad revenue, traffic and weather businesses, syndication businesses and events. The company's total debt is $20.4 billion. See the entire report here.
Cumulus reported Q2 net revenues of $299 million, a decrease of 9% or $29 million from the same period last year. Broadcast advertising was $276 million, digital advertising was $10 million, political advertising was $1 million and license and other fees were $12 million. Cumulus' total debt is $2.5 billion. See the entire report here.
Parker Leaves KHKX
West Texas KHKX/Odessa, TX morning co-host Jeff Parker has resigned for an undisclosed opportunity. Co-host Gillian Reilly is handling the shift solo while the search is on for Parker's successor. Website, social media and dynamic production skills are needed. Aircheck and resume to GM John Moesch here.
Kristian Bush, Rita Wilson at ACM Lifting Lives Benefit
Streamsound's Kristian Bush will team with the ACM for a concert benefiting ACM Lifting Lives Aug. 27 at The Troubadour in West Hollywood. Bush will be joined by actress/singer Rita Wilson. Ticket info here.