iHeartMedia shares jump on a Bloomberg report it is exploring a sale of its podcast business. Key points * iHeartMedia is exploring the sale of part or all of its podcast business and has held preliminary talks with Moelis & Co. and potential investors, Bloomberg reported, citing people familiar with the matter [[1]] [[2]]. * Shares were at about $0.70 at 2:15 p.m. ET Wednesday, up about 14%, after falling to $0.62 on Tuesday from $1.77 at Monday's close [[3]]. * Podcasting is iHeart's growth business: third-quarter podcast revenue rose 24.4% to $173.7 million while broadcast radio fell 4.5% [[4]]. iHeartMedia is exploring a sale of part or potentially all of its podcast business to raise cash and support its share price, Bloomberg reported on Wednesday, citing people familiar with the matter [[1]]. The talks are preliminary, and the company has spoken with investment bank Moelis & Co. and potential investors, according to the report as summarized by RadioInsight and Investing.com [[2]] [[5]]. iHeartMedia has not announced a sale process, and no company statement appeared in the coverage. The shares rebounded on the report. They traded at about $0.70 at 2:15 p.m. ET, up about 14% from Tuesday's close of $0.62, after touching $0.81 earlier in the session [[3]]. The stock had closed at $1.77 on Monday, before the company reported third-quarter results, and lost about 65% on Tuesday [[3]]. The unit on the block. Podcasting is iHeart's fastest-growing business. Third-quarter podcast revenue rose 24.4% to $173.7 million, about 17% of total revenue, while broadcast radio revenue fell 4.5%, according to the company's results release [[4]]. Total revenue rose 3.3% to $1.03 billion, but adjusted EBITDA fell to $170.5 million from $204.8 million (MLQ.ai coverage) [[4]]. The company has said it will report podcasting as a separate segment from 2027 [[5]]. iHeartMedia held talks earlier this year about a sale to SiriusXM that did not produce a deal; RadioInsight said what to do with the broadcast radio business was a main obstacle [[2]]. The company carries about $4.9 billion of long-term borrowings, Investing.com noted [[5]]. Companies mentioned. At the intersection of AI, tech, and markets. The stories that matter, in one email. Free - unsubscribe anytime.

iHeartMedia denies report of podcast sale following Q3 stock nosedive. "I can tell you that we have no plan to sell our podcasting business" Published: November 11, 2026 iHeartMedia's podcast network was recently ranked No. 2 among U.S. publishers. The division's revenue was up 24% last quarter. Would the media company really consider selling it off? iHeart denied a Wednesday Bloomberg report that it was in discussions to sell its podcasting arm in an effort to raise cash and boost its stock price. It is part of the aftermath iHeart is facing following its third-quarter earnings call on Monday. iHeart's share price fell as much as 66% during midday trading on Tuesday. According to Bloomberg, the price of its high-yield bond due in May 2029 tumbled by more than 20 cents this week, a move rarely seen across credit markets. iHeartMedia's shares rebounded by 13% by the close of Wednesday after Bloomberg indicated that iHeart had held preliminary discussions with investment bank Moelis & Co. and potential investors regarding a sale of part or all of its podcast business. But iHeart denied those discussions took place. "I can tell you that we have no plan to sell our podcasting business," an iHeart spokesperson told The Hollywood Reporter. As Radio World reported, the company's third-quarter revenue was up 3.3% year over year. But that figure fell short of the $1.07 billion analyst consensus. Even more alarming in financial circles, iHeart's full-year 2026 adjusted EBITDA guidance was adjusted downward to between $550 million and $600 million. That projection was originally around $800 million. The podcast division remains a bright spot for the company. iHeart President and COO Rich Bressler said the media company expects to establish podcasting as a separate reporting segment sometime next year. "It will provide greater insight into its financial performance and make it easier to fully value all four of our segments and our entire company," Bressler said in the Monday earnings call. iHeartMedia operates approximately 860 U.S. AM and FM radio stations.