- Audio & Media Services Group revenue declined 3.3%, but adjusted EBITDA remained flat year-over-year.
- Consolidated revenue was up 0.5% year-over-year, and 1.5% excluding political revenue impact.
- Digital Audio Group revenue grew 13.4% to $324 million, with adjusted EBITDA up 17.1% and margins improving to 33.2%.
- Free cash flow was negative $13 million compared to $6 million in the prior year quarter.
- GAAP operating income was $35.4 million compared to a prior year loss of $909.7 million due to a large impairment charge last year.
- iHeartMedia generated adjusted EBITDA of $156 million in Q2 2025, at the upper end of guidance and 4% above prior year.
- Multiplatform Group revenue declined 5.4% to $545 million, with adjusted EBITDA down 7.6% and margins slightly compressed.
- Net debt stood at approximately $4.6 billion with a net debt to adjusted EBITDA ratio of 6.5x.
- Podcast revenue grew 28.5%, exceeding guidance, and remains highly profitable with accretive EBITDA margins.
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