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iHeartMedia Says 2024 Will Be a ‘Recovery Year’
iHeartMedia reports earnings for 2023, noting that this will be a "recovery year."
iHeartMedia shares rose as much as 33.9% to $3.04 Thursday morning before falling to a still-impressive $2.75, up 21.1%, in the early afternoon. Revenue for the multiplatform group — which includes broadcast radio stations, live and virtual events, and the company’s national sales organization — was down 6.2% to $2.44 billion. COO and CFO Rich Bressler estimated iHeartMedia’s share of the podcast market at 20%.
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