The Truth About iHeart’s 3rd Quarter Meltdown

When is a loss actually a profit?

When Bob Pittman sells snake oil as part of Brother Love’s Traveling Salvation Show.

This happens quarter after quarter.

Enough already.

How does iHeart get away with it?

If you are already a subscriber, thank you for joining our group. Just click through and unlock the content.

If you’ve been thinking about subscribing and would like to access this story, let me tell you what you will get.

  1. Why isn’t Pittman behind bars? Here is how he legally makes iHeartMedia profitable even when its debt is $20 billion – up $400 million to date this year and his local revenue numbers are questionable.
  2. How bad is it? The average station’s third quarter revenue was “up” by this amount. On the “bright” side, no bonuses.
  3. By comparison guess how much Pandora is up with no accounting tricks.
  4. Cash reserves are still safe, right?
  5. How Pittman made a 10% decline in billing at its all-important LA cluster disappear into thin air to the amazement of the LA cluster that dropped the ball.

If you would like to read this story, learn how to access my archive of 2,829 previous stories, and get daily email delivery, click READ MORE below for your choices.