iHeart Extends Pittman, Bressler Contracts

Tell Tale iHeart: iHeartMedia has extended the contracts of Chairman/CEO Bob Pittman and Pres./COO/CFO Rich Bressler until Dec. 31, 2029. Their deals had been set to expire next year. Bressler's new contract also increases his cash severance multiplier from 1.5x to 2x to align his severance payments and benefits (upon a qualifying termination of employment) with Pittman's. The news was revealed in the company's latest SEC filing.