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iHeartMedia’s debt flat year over year, company ends Q4 with $773 million cash and equivalents
By Lisa Kerner
Charlotte, N.C., Feb. 25 – iHeartMedia, Inc. ended 2015 with cash and equivalents of $773 million and debt of about $20.9 billion, compared to $457 million and $20.3 billion, respectively, for 2014.
The company held its fourth-quarter earnings conference call on Thursday.
During the fourth quarter, iHeartMedia borrowed an additional $40 million under its receivables based credit facility, bringing the total amount outstanding to $230 million.
iHeartMedia’s upcoming debt maturities include $197 million in 2016, $238 million in 2017 and $939 million in 2018, according to the earnings presentation.
The company’s fourth-quarter revenues were up 3.1% year over year at $1.8 billion. Full-year revenue was up 2.4% at $6.5 billion.
iHeartMedia is a San Antonio, Texas-based broadcasting, media and outdoor advertising company.
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