iHeartMedia (IHRT) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-38987
Entity Registrant Name	IHEARTMEDIA, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0241222
Entity Address, Address Line One	20880 Stone Oak Parkway
Entity Address, City or Town	San Antonio,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78258
City Area Code	210
Local Phone Number	822-2828
Title of 12(b) Security	Class A Common Stock
Trading Symbol	IHRT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Central Index Key	0001400891
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		120,189,029
Class B Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		21,622,510

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 369,094	$ 720,662
Accounts receivable, net of allowance of $29,881 in 2021 and $38,777 in 2020	857,970	801,380
Prepaid expenses	98,204	79,508
Other current assets	30,748	17,426
Total Current Assets	1,356,016	1,618,976
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net	769,769	811,702
INTANGIBLE ASSETS AND GOODWILL
Indefinite-lived intangibles - licenses	1,778,045	1,770,345
Other intangibles, net	1,729,365	1,924,492
Goodwill	2,313,824	2,145,935
OTHER ASSETS
Operating lease right-of-use assets	747,707	825,887
Other assets	115,888	105,624
Total Assets	8,810,614	9,202,961
CURRENT LIABILITIES
Accounts payable	190,125	149,333
Current operating lease liabilities	96,830	76,503
Accrued expenses	298,679	265,651
Accrued interest	69,820	68,054
Deferred revenue	126,108	123,488
Current portion of long-term debt	725	34,775
Total Current Liabilities	782,287	717,804
Long-term debt	5,736,650	5,982,155
Series A Mandatorily Redeemable Preferred Stock, par value $0.001, authorized 60,000 shares, 60,000 shares issued in 2021 and 2020	60,000	60,000
Noncurrent operating lease liabilities	721,126	764,491
Deferred income taxes	633,805	556,477
Other long-term liabilities	78,725	71,217
Commitments and contingent liabilities (Note 6)
STOCKHOLDERS’ EQUITY
Noncontrolling interest	8,274	8,350
Preferred stock	0	0
Additional paid-in capital	2,870,394	2,849,020
Accumulated deficit	(2,074,449)	(1,803,620)
Accumulated other comprehensive income (loss)	(193)	194
Cost of shares (383,847 in 2021 and 254,066 in 2020) held in treasury	(6,147)	(3,199)
Total Stockholders' Equity	798,021	1,050,817
Total Liabilities and Stockholders' Equity	8,810,614	9,202,961
Class A Common Stock
STOCKHOLDERS’ EQUITY
Common stock	119	65
Class B Common Stock
STOCKHOLDERS’ EQUITY
Common stock	23	7
Special Warrants
STOCKHOLDERS’ EQUITY
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for receivables	$ 29,881	$ 38,777
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	2,100,000,000
Common stock, shares issued (in shares)	147,479,922
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	60,000	60,000
Preferred stock, shares issued (in shares)	60,000	60,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	119,669,831	64,726,864
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	22,505,661	6,886,925
Special Warrants
Class of Stock [Line Items]
Common stock, shares issued (in shares)	5,304,430	74,835,899
Common stock, shares outstanding (in shares)	5,304,430	74,835,899
Treasury stock
Class of Stock [Line Items]
Treasury stock (in shares)	383,847	254,066

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 928,051	$ 744,406	$ 2,496,321	$ 2,012,688
Operating expenses:
Direct operating expenses (excludes depreciation and amortization)	325,766	270,862	939,094	808,925
Selling, general and administrative expenses (excludes depreciation and amortization)	390,086	333,095	1,105,056	1,018,258
Depreciation and amortization	108,100	99,379	343,408	299,494
Impairment charges	11,647	0	49,391	1,733,235
Other operating expense, net	12,341	1,675	27,491	3,247
Operating income (loss)	80,111	39,395	31,881	(1,850,471)
Interest expense, net	82,481	85,562	252,489	257,614
Gain (loss) on investments, net	(10,367)	62	39,468	(8,613)
Equity in loss of nonconsolidated affiliates	(1,056)	(58)	(1,115)	(653)
Other expense, net	(9,681)	(1,177)	(10,851)	(10,295)
Loss before income taxes	(23,474)	(47,340)	(193,106)	(2,127,646)
Income tax benefit (expense)	27,147	15,228	(77,237)	209,481
Net income (loss)	3,673	(32,112)	(270,343)	(1,918,165)
Less amount attributable to noncontrolling interest	493	0	486	0
Net income (loss) attributable to the Company	3,180	(32,112)	(270,829)	(1,918,165)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(131)	267	(387)	455
Other comprehensive income (loss), net of tax	(131)	267	(387)	455
Comprehensive income (loss)	3,049	(31,845)	(271,216)	(1,917,710)
Less amount attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to the Company	$ 3,049	$ (31,845)	$ (271,216)	$ (1,917,710)
Net income (loss) attributable to the Company per common share:
Basic (in dollars per share)	$ 0.02	$ (0.22)	$ (1.85)	$ (13.15)
Weighted average common shares outstanding - Basic (in shares)	147,040	146,152	146,591	145,911
Diluted (in dollars per share)	$ 0.02	$ (0.22)	$ (1.85)	$ (13.15)
Weighted average common shares outstanding - Diluted (in shares)	150,397	146,152	146,591	145,911

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands		Total	Class B Shares	Common Shares	Common SharesClass A Shares		Common SharesClass B Shares		Common SharesSpecial Warrants		Non- controlling Interest	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2019	[1]				57,776,204		6,904,910		81,046,593
Beginning balance at Dec. 31, 2019		$ 2,945,441		$ 65							$ 9,123	$ 2,826,533	$ 112,548	$ (750)	$ (2,078)
Increase (Decrease) in Stockholders' Equity
Net income		(1,918,165)											(1,918,165)
Vesting of restricted stock and other (in shares)	[1]				667,493
Vesting of restricted stock and other		(997)										(23)			(974)
Share-based compensation		14,383										14,383
Conversion of Special Warrants to Class A and Class B Shares (in shares)	[1]				4,990,132		2,049		4,992,181
Conversion of Special Warrants to Class A and Class B Shares		$ 0		5								(5)
Conversion of Class B Shares to Class A Shares (in shares)			13,323		13,323	[1]	13,323	[1]
Other (in shares)	[1]	2,982
Other		$ (1,469)											(1,469)
Other comprehensive income (loss)		455												455
Ending balance (in shares) at Sep. 30, 2020	[1],[2]				63,447,152		6,893,636		76,051,430
Ending balance at Sep. 30, 2020		1,039,648		70							9,123	2,840,888	(1,807,086)	(295)	(3,052)
Beginning balance (in shares) at Jun. 30, 2020	[2]				61,432,341		6,900,195		78,038,412
Beginning balance at Jun. 30, 2020		1,065,642		68							9,123	2,835,005	(1,774,974)	(562)	(3,018)
Increase (Decrease) in Stockholders' Equity
Net income		(32,112)											(32,112)
Vesting of restricted stock and other (in shares)	[2]				21,270
Vesting of restricted stock and other		(34)													(34)
Share-based compensation		5,885										5,885
Conversion of Special Warrants to Class A and Class B Shares (in shares)	[2]				1,986,278		704		1,986,982
Conversion of Special Warrants to Class A and Class B Shares		0		2								(2)
Conversion of Class B Shares to Class A Shares (in shares)			7,263		7,263	[2]	7,263	[2]
Other comprehensive income (loss)		267												267
Ending balance (in shares) at Sep. 30, 2020	[1],[2]				63,447,152		6,893,636		76,051,430
Ending balance at Sep. 30, 2020		1,039,648		70							9,123	2,840,888	(1,807,086)	(295)	(3,052)
Beginning balance (in shares) at Dec. 31, 2020	[3]				64,726,864		6,886,925		74,835,899
Beginning balance at Dec. 31, 2020		1,050,817		72							8,350	2,849,020	(1,803,620)	194	(3,199)
Increase (Decrease) in Stockholders' Equity
Net income		(270,343)									486		(270,829)
Vesting of restricted stock and other (in shares)	[3]				1,027,252
Vesting of restricted stock and other		915										3,863			(2,948)
Share-based compensation		17,581										17,581
Conversion of Special Warrants to Class A and Class B Shares (in shares)	[3]				47,197,139		22,337,312		69,534,451
Conversion of Special Warrants to Class A and Class B Shares		0		70								(70)
Conversion of Class B Shares to Class A Shares (in shares)			6,718,576		6,718,576	[3]	6,718,576	[3]
Other (in shares)	[3]								2,982
Other		(562)									(562)
Other comprehensive income (loss)		(387)												(387)
Ending balance (in shares) at Sep. 30, 2021	[3],[4]				119,669,831		22,505,661		5,304,430
Ending balance at Sep. 30, 2021		798,021		142							8,274	2,870,394	(2,074,449)	(193)	(6,147)
Beginning balance (in shares) at Jun. 30, 2021	[4]				118,261,575		23,636,512		5,365,128
Beginning balance at Jun. 30, 2021		788,845		142							7,968	2,863,657	(2,077,629)	(62)	(5,231)
Increase (Decrease) in Stockholders' Equity
Net income		3,673									493		3,180
Vesting of restricted stock and other (in shares)	[4]				216,707
Vesting of restricted stock and other		(172)		(1)								745			(916)
Share-based compensation		5,993										5,993
Conversion of Special Warrants to Class A and Class B Shares (in shares)					60,698	[4]	0		60,698	[4]
Conversion of Special Warrants to Class A and Class B Shares		0		1								(1)
Conversion of Class B Shares to Class A Shares (in shares)			1,130,851		1,130,851	[4]	1,130,851	[4]
Other		(187)									(187)
Other comprehensive income (loss)		(131)												(131)
Ending balance (in shares) at Sep. 30, 2021	[3],[4]				119,669,831		22,505,661		5,304,430
Ending balance at Sep. 30, 2021		$ 798,021		$ 142							$ 8,274	$ 2,870,394	$ (2,074,449)	$ (193)	$ (6,147)
[1]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2019 or 2020.
[2]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2020.
[3]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2021 or 2020.
[4]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2021.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (270,343)	$ (1,918,165)
Reconciling items:
Impairment charges	49,391	1,733,235
Depreciation and amortization	343,408	299,494
Deferred taxes	64,520	(214,615)
Provision for doubtful accounts	2,919	23,593
Amortization of deferred financing charges and note discounts, net	4,508	3,000
Share-based compensation	17,581	14,383
Loss on disposal of operating and other assets	22,771	704
(Gain) Loss on investments	(39,468)	8,613
Equity in loss of nonconsolidated affiliates	1,115	653
Barter and trade income	(9,418)	(7,500)
Other reconciling items, net	8,660	775
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
(Increase) decrease in accounts receivable	(37,776)	224,044
Increase in prepaid expenses and other current assets	(33,486)	(7,228)
Increase in other long-term assets	(7,392)	(165)
Increase (decrease) in accounts payable and accrued expenses	74,534	(31,343)
Increase (decrease) in accrued interest	1,766	(13,959)
Increase in deferred income	2,500	1,919
Increase in other long-term liabilities	803	18,723
Cash provided by operating activities	196,593	136,161
Cash flows from investing activities:
Business combinations	(245,462)	(12,656)
Proceeds from sale of other investments	50,757	0
Purchases of property, plant and equipment	(101,335)	(58,523)
Proceeds from disposal of assets	36,330	1,742
Change in other, net	(188)	(1,735)
Cash used for investing activities	(259,898)	(71,172)
Cash flows from financing activities:
Proceeds from long-term debt and credit facilities	0	779,750
Payments on long-term debt and credit facilities	(288,484)	(525,362)
Change in other, net	366	(5,751)
Cash provided by (used for) financing activities	(288,118)	248,637
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(244)	(115)
Net increase (decrease) in cash, cash equivalents and restricted cash	(351,667)	313,511
Cash, cash equivalents and restricted cash at beginning of period	721,187	411,618
Cash, cash equivalents and restricted cash at end of period	369,520	725,129
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	247,513	270,963
Cash paid for income taxes	$ 7,900	$ 5,263

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Preparation of Interim Financial Statements All references in this Quarterly Report on Form 10-Q to the “Company,” “we,” “us” and “our” refer to iHeartMedia, Inc. and its consolidated subsidiaries. The accompanying consolidated financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. The financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. As of January 1, 2021, the Company began reporting based on three reportable segments: ▪ the iHeartMedia Multiplatform Group, which includes the Company's Broadcast radio, Networks and Sponsorships and Events businesses; ▪ the iHeartMedia Digital Audio Group, which includes all of the Company's Digital businesses, including Podcasting; and ▪ the Audio & Media Services Group, which includes Katz Media Group (“Katz Media”), a full-service media representation business, and RCS Sound Software ("RCS"), a provider of scheduling and broadcast software and services. These reporting segments reflect how senior management operates the Company and align with certain leadership and organizational changes implemented in the first quarter 2021. This structure provides improved visibility into the underlying performances, results, and margin profiles of our distinct businesses and enables senior management to better monitor trends at the operational level and address opportunities or issues as they arise via regular review of segment-level results and forecasts with operational leaders. Additionally, as of January 1, 2021, Segment Adjusted EBITDA is the segment profitability metric reported to the Company's Chief Operating Decision Maker for purposes of making decisions about allocation of resources to, and assessing performance of, each reportable segment. Segment Adjusted EBITDA is calculated as Revenue less operating expenses, excluding restructuring expenses and share-based compensation expenses. Restructuring expenses primarily include severance expenses incurred in connection with cost saving initiatives, as well as certain expenses, which, in the view of management, are outside the ordinary course of business or otherwise not representative of the Company's operations during a normal business cycle. The corresponding current and prior period segment disclosures have been recast to reflect the current segment presentation. See Note 9, Segment Data . The consolidated financial statements include the accounts of the Company and its subsidiaries. Also included in the consolidated financial statements are entities for which the Company has a controlling interest or is the primary beneficiary. Investments in companies which the Company does not control, but exercises significant influence over operating and financial policies of the company are accounted for under the equity method. All significant intercompany transactions are eliminated in the consolidation process. COVID-19 Our business has been adversely impacted by the novel coronavirus pandemic (“COVID-19”), its impact on the operating and economic environment and related, near-term advertiser spending decisions. The Company's revenue in the latter half of the month ended March 31, 2020, through the remainder of 2020 and into 2021 was significantly and negatively impacted as a result of a decline in advertising spend driven by COVID-19, and the Company's management took proactive actions during 2020, which are continuing into 2021, to expand the Company’s financial flexibility by reducing expenses and preserving cash as a result of such impact. Although our results for the third quarter of 2021 continued to be impacted by the effects of the COVID-19 pandemic, our revenue for both the three months ended June 30, 2021 and September 30, 2021 increased significantly compared to the three months ended June 30, 2020 and September 30, 2020, including revenue from our Multiplatform segment, which includes our broadcast radio, networks and sponsorship and events businesses. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES Act”) was signed into law. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The provisions of the CARES Act resulted in an increase to allowable interest deductions of $179.4 million during 2020. In addition, the Company was able to defer the payment of $29.3 million in certain employment taxes during 2020, half of which will be due on December 31, 2021 and the other half will be due on December 31, 2022. As of September 30, 2021, the Company has claimed $12.4 million in refundable payroll tax credits related to the CARES Act provisions. As of September 30, 2021, the Company had approximately $369.1 million in cash and cash equivalents. While the Company expects COVID-19 to continue to negatively impact the results of operations, cash flows and financial position of the Company, the related financial impact cannot be reasonably estimated at this time. Based on current available liquidity, the Company expects to be able to meet its obligations as they become due over the coming year. Reclassifications and New Segment Presentation Certain prior period amounts have been reclassified to conform to the 2021 presentation. In connection with the organization and leadership changes resulting in the realignment of its reportable segments as discussed above, the Company also determined that all selling, general and administrative expenses incurred by its reportable segments and by its corporate functions would be reported together as Selling, general and administrative expenses. Amounts presented in prior years as Corporate expenses have been reclassified as Selling, general and administrative expenses to conform to the current presentation. Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets to the total of the amounts reported in the Consolidated Statements of Cash Flows: (In thousands) September 30, December 31, Cash and cash equivalents $ 369,094 $ 720,662 Restricted cash included in: Other current assets 426 — Other assets — 525 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 369,520 $ 721,187 Certain Relationships and Related Party Transactions From time to time, certain companies in which the Company holds minority equity interests, purchase advertising in the ordinary course. None of these ordinary course transactions have a material impact on the Company. New Accounting Pronouncements Recently Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of the Interbank Offered Rate Transition on Financial Reporting to provide optional relief from applying generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform. In addition, in January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848) – Scope, to clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The guidance is effective upon issuance and generally can be applied through December 31, 2022. The Company is currently evaluating the future impact of adoption of this standard.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue The following tables show revenue streams for the three and nine months ended September 30, 2021 and 2020: (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Three Months Ended September 30, 2021 Revenue from contracts with customers: Broadcast Radio (1) $ 483,456 $ — $ — $ — $ 483,456 Networks (2) 127,920 — — — 127,920 Sponsorship and Events (3) 42,663 — — — 42,663 Digital, excluding Podcast (4) — 141,573 — (1,475) 140,098 Podcast (5) — 64,196 — — 64,196 Audio & Media Services (6) — — 66,078 (1,188) 64,890 Other (7) 4,636 — — (112) 4,524 Total 658,675 205,769 66,078 (2,775) 927,747 Revenue from leases (8) 304 — — — 304 Revenue, total $ 658,979 $ 205,769 $ 66,078 $ (2,775) $ 928,051 Three Months Ended September 30, 2020 Revenue from contracts with customers: Broadcast Radio (1) $ 404,460 $ — $ — $ — $ 404,460 Networks (2) 118,982 — — — 118,982 Sponsorship and Events (3) 28,898 — — — 28,898 Digital, excluding Podcast (4) — 93,574 — — 93,574 Podcast (5) — 22,626 — — 22,626 Audio & Media Services (6) — — 75,039 (1,762) 73,277 Other (7) 2,180 — — (168) 2,012 Total 554,520 116,200 75,039 (1,930) 743,829 Revenue from leases (8) 577 — — — 577 Revenue, total $ 555,097 $ 116,200 $ 75,039 $ (1,930) $ 744,406 (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Nine Months Ended September 30, 2021 Revenue from contracts with customers: Broadcast Radio (1) $ 1,293,134 $ — $ — $ — $ 1,293,134 Networks (2) 366,592 — — — 366,592 Sponsorship and Events (3) 93,641 — — — 93,641 Digital, excluding Podcast (4) — 405,276 — (4,547) 400,729 Podcast (5) — 155,976 — — 155,976 Audio & Media Services (6) — — 182,390 (5,053) 177,337 Other (7) 8,226 — — (447) 7,779 Total 1,761,593 561,252 182,390 (10,047) 2,495,188 Revenue from leases (8) 1,133 — — — 1,133 Revenue, total $ 1,762,726 $ 561,252 $ 182,390 $ (10,047) $ 2,496,321 Nine Months Ended September 30, 2020 Revenue from contracts with customers: Broadcast Radio (1) $ 1,110,155 $ — $ — $ — $ 1,110,155 Networks (2) 349,889 — — — 349,889 Sponsorship and Events (3) 73,055 — — — 73,055 Digital, excluding Podcast (4) — 242,479 — — 242,479 Podcast (5) — 59,724 — — 59,724 Audio & Media Services (6) — — 174,517 (5,352) 169,165 Other (7) 7,284 — — (503) 6,781 Total 1,540,383 302,203 174,517 (5,855) 2,011,248 Revenue from leases (8) 1,440 — — — 1,440 Revenue, total $ 1,541,823 $ 302,203 $ 174,517 $ (5,855) $ 2,012,688 (1) Broadcast Radio revenue is generated through the sale of advertising time on the Company’s domestic radio stations. (2) Networks revenue is generated through the sale of advertising on the Company’s Premiere and Total Traffic & Weather network programs and through the syndication of network programming to other media companies. (3) Sponsorship and events revenue is generated through local events and major nationally-recognized tent pole events and include sponsorship and other advertising revenue, ticket sales, and licensing, as well as endorsement and appearance fees generated by on-air talent. (4) Digital, excluding Podcast revenue is generated through the sale of streaming and display advertisements on digital platforms and through subscriptions to iHeartRadio streaming services. (5) Podcast revenue is generated through the sale of advertising on the Company's podcast network. (6) Audio & Media Services revenue is generated by services provided to broadcast industry participants through the Company’s Katz Media and RCS businesses. As a media representation firm, Katz Media generates revenue via commissions on media sold on behalf of the radio and television stations that it represents, while RCS generates revenue by providing broadcast and webcast software and technology and services to radio stations, television music channels, cable companies, satellite music networks and Internet stations worldwide. (7) Other revenue represents fees earned for miscellaneous services, including on-site promotions, activations, and local marketing agreements. (8) Revenue from leases is primarily generated by the lease of towers to other media companies, which are all categorized as operating leases. Trade and Barter Trade and barter transactions represent the exchange of advertising spots for merchandise, services, advertising and promotion or other assets in the ordinary course of business. The transaction price for these contracts is measured at the estimated fair value of the non-cash consideration received unless this is not reasonably estimable, in which case the consideration is measured based on the standalone selling price of the advertising spots promised to the customer. Trade and barter revenues and expenses, which are included in consolidated revenue and selling, general and administrative expenses, respectively, were as follows: Three Months Ended Nine Months Ended (In thousands) 2021 2020 2021 2020 Trade and barter revenues $ 49,200 $ 41,430 $ 127,654 $ 113,861 Trade and barter expenses 33,955 44,109 101,998 116,182 The Company recognized barter revenue of $4.9 million and $2.3 million during the three months ended September 30, 2021 and 2020, respectively, and $9.4 million and $7.5 million during the nine months ended September 30, 2021 and 2020, respectively, in connection with investments made in companies in exchange for advertising services. The following tables show the Company’s deferred revenue balance from contracts with customers: Three Months Ended Nine Months Ended (In thousands) 2021 2020 2021 2020 Deferred revenue from contracts with customers: Beginning balance (1) $ 149,731 $ 178,030 $ 145,493 $ 162,068 Revenue recognized, included in beginning balance (52,406) (79,261) (84,375) (86,419) Additions, net of revenue recognized during period, and other 56,799 73,352 93,006 96,472 Ending balance $ 154,124 $ 172,121 $ 154,124 $ 172,121 (1) Deferred revenue from contracts with customers, which excludes other sources of deferred revenue that are not related to contracts with customers, is included within deferred revenue and other long-term liabilities on the Consolidated Balance Sheets, depending upon when revenue is expected to be recognized. The Company’s contracts with customers generally have terms of one year or less; however, as of September 30, 2021, the Company expects to recognize $220.5 million of revenue in future periods for remaining performance obligations from current contracts with customers that have an original expected duration greater than one year, with substantially all of this amount to be recognized over the next five years. Commissions related to the Company’s media representation business have been excluded from this amount as they are contingent upon future sales. Revenue from Leases As of September 30, 2021, the future lease payments to be received by the Company are as follows: (In thousands) 2021 $ 277 2022 910 2023 759 2024 579 2025 394 Thereafter 1,828 Total $ 4,747

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
LEASES	LEASES The Company enters into operating lease contracts for land, buildings, structures and other equipment. Arrangements are evaluated at inception to determine whether such arrangements contain a lease. Operating leases primarily include land and building lease contracts and leases of radio towers. Arrangements to lease building space consist primarily of the rental of office space, but may also include leases of other equipment, including automobiles and copiers. Operating leases are reflected on the Company's balance sheet within Operating lease right-of-use assets ("ROU assets") and the related short-term and long-term liabilities are included within Current and Noncurrent operating lease liabilities, respectively. The Company's finance leases are included within Property, plant and equipment with the related liabilities included within Long-term debt. ROU assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the respective lease term. Lease expense is recognized on a straight-line basis over the lease term. The Company tests for impairment of assets whenever events and circumstances indicate that such assets might be impaired. During the nine months ended September 30, 2021, the Company recognized non-cash impairment charges of $49.4 million, including $38.0 million related to ROU assets, and $11.4 million related to leasehold improvements as a result of proactive decisions by management to abandon and sublease a number of operating leases in connection with strategic actions to streamline the Company’s real estate footprint as part of the Company’s modernization initiatives. The implicit rate within the Company's lease agreements is generally not determinable. As such, the Company uses the incremental borrowing rate ("IBR") to determine the present value of lease payments at the commencement of the lease. The IBR, as defined in ASC 842, is "the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment." The following table provides supplemental cash flow information related to leases for the periods presented: Nine Months Ended September 30, (In thousands) 2021 2020 Cash paid for amounts included in measurement of operating lease liabilities $ 100,815 $ 99,634 Lease liabilities arising from obtaining right-of-use assets (1) 35,317 41,982 (1) Lease liabilities from obtaining right-of-use assets include new leases entered into during the nine months ended September 30, 2021 and 2020, respectively. The Company reflects changes in the lease liability and changes in the ROU asset on a net basis in the Statements of Cash Flows. The non-cash operating lease expense was $75.8 million and $78.2 million for the nine months ended September 30, 2021 and September 30, 2020, respectively.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL	PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL Acquisitions On March 31, 2021, the Company acquired Triton Digital, a global leader in digital audio and podcast technology and measurement services, from The E.W. Scripps Company for $228.5 million in cash. The assets acquired as part of this transaction consisted of $69.4 million in current and fixed assets, consisting primarily of accounts receivable and technology, and $191.5 million in intangible assets, consisting primarily of customer relationships, along with $168.2 million in goodwill (of which $6.9 million is tax-deductible). The Company also assumed liabilities of $32.4 million, consisting primarily of accounts payable and deferred tax liabilities. The assessment of fair value of assets acquired and liabilities assumed is preliminary and is based on information that was available to management at the time these consolidated financial statements were prepared. The finalization of the Company’s acquisition accounting assessment could result in changes in the valuation of assets acquired and liabilities assumed, which could be material. Property, Plant and Equipment The Company’s property, plant and equipment consisted of the following classes of assets as of September 30, 2021 and December 31, 2020, respectively: (In thousands) September 30, December 31, Land, buildings and improvements $ 337,696 $ 386,980 Towers, transmitters and studio equipment 174,461 169,788 Computer equipment and software 489,027 398,084 Furniture and other equipment 31,711 45,711 Construction in progress 64,769 25,073 1,097,664 1,025,636 Less: accumulated depreciation 327,895 213,934 Property, plant and equipment, net $ 769,769 $ 811,702 Indefinite-lived Intangible Assets The Company’s indefinite-lived intangible assets consist of FCC broadcast licenses in its Multiplatform Group segment. The Company performs its annual impairment test on goodwill and indefinite-lived intangible assets, including FCC licenses, as of July 1 of each year. The impairment tests for indefinite-lived intangible assets consist of a comparison between the fair value of the indefinite-lived intangible asset at the market level with its carrying amount. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized equal to that excess. After an impairment loss is recognized, the adjusted carrying amount of the indefinite-lived asset is its new accounting basis. The fair value of the indefinite-lived asset is determined using the direct valuation method as prescribed in ASC 805-20-S99. Under the direct valuation method, the fair value of the indefinite-lived assets is calculated at the market level as prescribed by ASC 350-30-35. The Company engaged a third-party valuation firm to assist it in the development of the assumptions and the Company’s determination of the fair value of its indefinite-lived intangible assets. The application of the direct valuation method attempts to isolate the income that is attributable to the indefinite-lived intangible asset alone (that is, apart from tangible and identified intangible assets and goodwill). It is based upon modeling a hypothetical “greenfield” build-up to a “normalized” enterprise that, by design, lacks inherent goodwill and whose only other assets have essentially been paid for (or added) as part of the build-up process. The Company forecasts revenue, expenses, and cash flows over a ten-year period for each of its markets in its application of the direct valuation method. The Company also calculates a “normalized” residual year which represents the perpetual cash flows of each market. The residual year cash flow was capitalized to arrive at the terminal value of the licenses in each market. Under the direct valuation method, it is assumed that rather than acquiring indefinite-lived intangible assets as part of a going concern business, the buyer hypothetically develops indefinite-lived intangible assets and builds a new operation with similar attributes from scratch. Thus, the buyer incurs start-up costs during the build-up phase which are normally associated with going concern value. Initial capital costs are deducted from the discounted cash flow model which results in value that is directly attributable to the indefinite-lived intangible assets. The key assumptions used in applying the direct valuation method are market revenue growth rates, market share, profit margin, duration and profile of the build-up period, estimated start-up capital costs and losses incurred during the build-up period, the risk-adjusted discount rate and terminal values. This data is populated using industry normalized information representing an average FCC license within a market. No impairment was recognized as a result of the Company's annual impairment test on indefinite-lived intangible assets. In addition, the Company tests for impairment of intangible assets whenever events and circumstances indicate that such assets might be impaired. As a result of the COVID-19 pandemic and the economic downturn starting in March 2020, the Company performed an interim impairment test as of March 31, 2020 on its indefinite-lived FCC licenses, resulting in a non-cash impairment charge of $502.7 million on its FCC licenses. Other Intangible Assets Other intangible assets consists of definite-lived intangible assets, which primarily include customer and advertiser relationships, talent and representation contracts, trademarks and tradenames and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time that the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at amortized cost. The Company tests for possible impairment of other intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. The Company performed interim impairment tests as of March 31, 2020 on its other intangible assets as a result of the COVID-19 pandemic and economic slowdown. Based on the Company’s test of recoverability using estimated undiscounted future cash flows, the carrying values of the Company’s definite-lived intangible assets were determined to be recoverable, and no impairment was recognized. The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets as of September 30, 2021 and December 31, 2020, respectively: (In thousands) September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,636,357 $ (415,720) $ 1,620,509 $ (286,066) Talent and other contracts 338,900 (106,266) 375,900 (84,065) Trademarks and tradenames 335,861 (79,714) 326,061 (54,358) Other 27,994 (8,047) 31,351 (4,840) Total $ 2,339,112 $ (609,747) $ 2,353,821 $ (429,329) Total amortization expense related to definite-lived intangible assets for the Company for the three months ended September 30, 2021 and 2020 was $64.3 million and $64.5 million, respectively. Total amortization expense related to definite-lived intangible assets for the Company for the nine months ended September 30, 2021 and 2020 was $218.0 million and $193.0 million, respectively. As acquisitions and dispositions occur in the future, amortization expense may vary. The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets: (In thousands) 2022 $ 254,720 2023 246,014 2024 244,589 2025 213,396 2026 201,474 Goodwill The following table presents the changes in the carrying amount of goodwill: (In thousands) Audio Audio & Media Services Consolidated Balance as of December 31, 2019 $ 3,221,468 $ 104,154 $ 3,325,622 Impairment (1,224,374) — (1,224,374) Acquisitions 44,606 — 44,606 Dispositions (164) — (164) Foreign currency — 245 245 Balance as of December 31, 2020 $ 2,041,536 $ 104,399 $ 2,145,935 (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Consolidated Balance as of January 1, 2021 $ 1,462,217 $ 579,319 $ 104,399 $ 2,145,935 Acquisitions 1,267 168,224 — 169,491 Dispositions (1,446) — — (1,446) Foreign currency — — (156) (156) Balance as of September 30, 2021 $ 1,462,038 $ 747,543 $ 104,243 $ 2,313,824 As a result of the leadership and organizational changes implemented in the first quarter 2021, as described in Note 1, Basis of Presentation , the Company re-evaluated its reporting units and allocated goodwill to these new reporting units. Refer to Note 9, Segment Data, for additional information on our segments. Goodwill was allocated to these new reporting units based on the relative fair values of these reporting units. Fair value was calculated using the expected present value of future cash flows, and included estimates, judgments and assumptions consistent with those of a market participant that management believes were appropriate in the circumstances. The estimates and judgments that most significantly affect the fair value calculations are assumptions related to long-term growth rates, expected profit margins and discount rates. The Company did not recast prior-period goodwill balances to the new reporting units as it was impractical to do so. Goodwill Impairment The Company performs its annual impairment test on goodwill as of July 1 of each year. The Company also tests goodwill at interim dates if events or changes in circumstances indicate that goodwill might be impaired. The goodwill impairment test requires measurement of the fair value of the Company's reporting units, which is compared to the carrying value of the reporting units, including goodwill. Each reporting unit is valued using a discounted cash flow model which requires estimating future cash flows expected to be generated from the reporting unit, discounted to their present value using a risk-adjusted discount rate. Terminal values are also estimated and discounted to their present value. Assessing the recoverability of goodwill requires estimates and assumptions about sales, operating margins, growth rates and discount rates based on budgets, business plans, economic projections, anticipated future cash flows and marketplace data. As with the impairment testing performed on the Company’s FCC licenses described above, the significant deterioration in market conditions and uncertainty in the markets impacted the assumptions used to estimate the discounted future cash flows of the Company’s reporting units for purposes of performing the interim goodwill impairment test. There are inherent uncertainties related to these factors and management’s judgment in applying these factors. The Company engaged a third-party valuation firm to assist it in the development of the assumptions and the Company’s determination of the fair value of its reporting units as of July 1 as part of the annual impairment test. No impairment was recognized as a result of the Company's annual impairment test on goodwill. As a result of the changes in the Company's management structure and its reportable segments effective at the beginning of 2021, the Company performed an interim impairment test on goodwill as of January 1, 2021. No impairment charges were recorded in the first quarter of 2021 in connection with the interim impairment test. The Company performed an interim impairment test on goodwill in the first quarter of 2020 and recognized a non-cash impairment charge of $1.2 billion to reduce goodwill as a result of the COVID-19 pandemic and its adverse effect on the U.S. economy.
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL	PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL Acquisitions On March 31, 2021, the Company acquired Triton Digital, a global leader in digital audio and podcast technology and measurement services, from The E.W. Scripps Company for $228.5 million in cash. The assets acquired as part of this transaction consisted of $69.4 million in current and fixed assets, consisting primarily of accounts receivable and technology, and $191.5 million in intangible assets, consisting primarily of customer relationships, along with $168.2 million in goodwill (of which $6.9 million is tax-deductible). The Company also assumed liabilities of $32.4 million, consisting primarily of accounts payable and deferred tax liabilities. The assessment of fair value of assets acquired and liabilities assumed is preliminary and is based on information that was available to management at the time these consolidated financial statements were prepared. The finalization of the Company’s acquisition accounting assessment could result in changes in the valuation of assets acquired and liabilities assumed, which could be material. Property, Plant and Equipment The Company’s property, plant and equipment consisted of the following classes of assets as of September 30, 2021 and December 31, 2020, respectively: (In thousands) September 30, December 31, Land, buildings and improvements $ 337,696 $ 386,980 Towers, transmitters and studio equipment 174,461 169,788 Computer equipment and software 489,027 398,084 Furniture and other equipment 31,711 45,711 Construction in progress 64,769 25,073 1,097,664 1,025,636 Less: accumulated depreciation 327,895 213,934 Property, plant and equipment, net $ 769,769 $ 811,702 Indefinite-lived Intangible Assets The Company’s indefinite-lived intangible assets consist of FCC broadcast licenses in its Multiplatform Group segment. The Company performs its annual impairment test on goodwill and indefinite-lived intangible assets, including FCC licenses, as of July 1 of each year. The impairment tests for indefinite-lived intangible assets consist of a comparison between the fair value of the indefinite-lived intangible asset at the market level with its carrying amount. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized equal to that excess. After an impairment loss is recognized, the adjusted carrying amount of the indefinite-lived asset is its new accounting basis. The fair value of the indefinite-lived asset is determined using the direct valuation method as prescribed in ASC 805-20-S99. Under the direct valuation method, the fair value of the indefinite-lived assets is calculated at the market level as prescribed by ASC 350-30-35. The Company engaged a third-party valuation firm to assist it in the development of the assumptions and the Company’s determination of the fair value of its indefinite-lived intangible assets. The application of the direct valuation method attempts to isolate the income that is attributable to the indefinite-lived intangible asset alone (that is, apart from tangible and identified intangible assets and goodwill). It is based upon modeling a hypothetical “greenfield” build-up to a “normalized” enterprise that, by design, lacks inherent goodwill and whose only other assets have essentially been paid for (or added) as part of the build-up process. The Company forecasts revenue, expenses, and cash flows over a ten-year period for each of its markets in its application of the direct valuation method. The Company also calculates a “normalized” residual year which represents the perpetual cash flows of each market. The residual year cash flow was capitalized to arrive at the terminal value of the licenses in each market. Under the direct valuation method, it is assumed that rather than acquiring indefinite-lived intangible assets as part of a going concern business, the buyer hypothetically develops indefinite-lived intangible assets and builds a new operation with similar attributes from scratch. Thus, the buyer incurs start-up costs during the build-up phase which are normally associated with going concern value. Initial capital costs are deducted from the discounted cash flow model which results in value that is directly attributable to the indefinite-lived intangible assets. The key assumptions used in applying the direct valuation method are market revenue growth rates, market share, profit margin, duration and profile of the build-up period, estimated start-up capital costs and losses incurred during the build-up period, the risk-adjusted discount rate and terminal values. This data is populated using industry normalized information representing an average FCC license within a market. No impairment was recognized as a result of the Company's annual impairment test on indefinite-lived intangible assets. In addition, the Company tests for impairment of intangible assets whenever events and circumstances indicate that such assets might be impaired. As a result of the COVID-19 pandemic and the economic downturn starting in March 2020, the Company performed an interim impairment test as of March 31, 2020 on its indefinite-lived FCC licenses, resulting in a non-cash impairment charge of $502.7 million on its FCC licenses. Other Intangible Assets Other intangible assets consists of definite-lived intangible assets, which primarily include customer and advertiser relationships, talent and representation contracts, trademarks and tradenames and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time that the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at amortized cost. The Company tests for possible impairment of other intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. The Company performed interim impairment tests as of March 31, 2020 on its other intangible assets as a result of the COVID-19 pandemic and economic slowdown. Based on the Company’s test of recoverability using estimated undiscounted future cash flows, the carrying values of the Company’s definite-lived intangible assets were determined to be recoverable, and no impairment was recognized. The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets as of September 30, 2021 and December 31, 2020, respectively: (In thousands) September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,636,357 $ (415,720) $ 1,620,509 $ (286,066) Talent and other contracts 338,900 (106,266) 375,900 (84,065) Trademarks and tradenames 335,861 (79,714) 326,061 (54,358) Other 27,994 (8,047) 31,351 (4,840) Total $ 2,339,112 $ (609,747) $ 2,353,821 $ (429,329) Total amortization expense related to definite-lived intangible assets for the Company for the three months ended September 30, 2021 and 2020 was $64.3 million and $64.5 million, respectively. Total amortization expense related to definite-lived intangible assets for the Company for the nine months ended September 30, 2021 and 2020 was $218.0 million and $193.0 million, respectively. As acquisitions and dispositions occur in the future, amortization expense may vary. The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets: (In thousands) 2022 $ 254,720 2023 246,014 2024 244,589 2025 213,396 2026 201,474 Goodwill The following table presents the changes in the carrying amount of goodwill: (In thousands) Audio Audio & Media Services Consolidated Balance as of December 31, 2019 $ 3,221,468 $ 104,154 $ 3,325,622 Impairment (1,224,374) — (1,224,374) Acquisitions 44,606 — 44,606 Dispositions (164) — (164) Foreign currency — 245 245 Balance as of December 31, 2020 $ 2,041,536 $ 104,399 $ 2,145,935 (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Consolidated Balance as of January 1, 2021 $ 1,462,217 $ 579,319 $ 104,399 $ 2,145,935 Acquisitions 1,267 168,224 — 169,491 Dispositions (1,446) — — (1,446) Foreign currency — — (156) (156) Balance as of September 30, 2021 $ 1,462,038 $ 747,543 $ 104,243 $ 2,313,824 As a result of the leadership and organizational changes implemented in the first quarter 2021, as described in Note 1, Basis of Presentation , the Company re-evaluated its reporting units and allocated goodwill to these new reporting units. Refer to Note 9, Segment Data, for additional information on our segments. Goodwill was allocated to these new reporting units based on the relative fair values of these reporting units. Fair value was calculated using the expected present value of future cash flows, and included estimates, judgments and assumptions consistent with those of a market participant that management believes were appropriate in the circumstances. The estimates and judgments that most significantly affect the fair value calculations are assumptions related to long-term growth rates, expected profit margins and discount rates. The Company did not recast prior-period goodwill balances to the new reporting units as it was impractical to do so. Goodwill Impairment The Company performs its annual impairment test on goodwill as of July 1 of each year. The Company also tests goodwill at interim dates if events or changes in circumstances indicate that goodwill might be impaired. The goodwill impairment test requires measurement of the fair value of the Company's reporting units, which is compared to the carrying value of the reporting units, including goodwill. Each reporting unit is valued using a discounted cash flow model which requires estimating future cash flows expected to be generated from the reporting unit, discounted to their present value using a risk-adjusted discount rate. Terminal values are also estimated and discounted to their present value. Assessing the recoverability of goodwill requires estimates and assumptions about sales, operating margins, growth rates and discount rates based on budgets, business plans, economic projections, anticipated future cash flows and marketplace data. As with the impairment testing performed on the Company’s FCC licenses described above, the significant deterioration in market conditions and uncertainty in the markets impacted the assumptions used to estimate the discounted future cash flows of the Company’s reporting units for purposes of performing the interim goodwill impairment test. There are inherent uncertainties related to these factors and management’s judgment in applying these factors. The Company engaged a third-party valuation firm to assist it in the development of the assumptions and the Company’s determination of the fair value of its reporting units as of July 1 as part of the annual impairment test. No impairment was recognized as a result of the Company's annual impairment test on goodwill. As a result of the changes in the Company's management structure and its reportable segments effective at the beginning of 2021, the Company performed an interim impairment test on goodwill as of January 1, 2021. No impairment charges were recorded in the first quarter of 2021 in connection with the interim impairment test. The Company performed an interim impairment test on goodwill in the first quarter of 2020 and recognized a non-cash impairment charge of $1.2 billion to reduce goodwill as a result of the COVID-19 pandemic and its adverse effect on the U.S. economy.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt outstanding for the Company as of September 30, 2021 and December 31, 2020 consisted of the following: (In thousands) September 30, 2021 December 31, 2020 Term Loan Facility due 2026 $ 1,864,032 $ 2,080,259 Incremental Term Loan Facility due 2026 401,220 447,750 Asset-based Revolving Credit Facility due 2023 (1) — — 6.375% Senior Secured Notes due 2026 800,000 800,000 5.25% Senior Secured Notes due 2027 750,000 750,000 4.75% Senior Secured Notes due 2028 500,000 500,000 Other secured subsidiary debt (2) 5,369 22,753 Total consolidated secured debt 4,320,621 4,600,762 8.375% Senior Unsecured Notes due 2027 1,450,000 1,450,000 Other unsecured subsidiary debt — 6,782 Original issue discount (14,156) (18,817) Long-term debt fees (19,090) (21,797) Total debt 5,737,375 6,016,930 Less: Current portion 725 34,775 Total long-term debt $ 5,736,650 $ 5,982,155 (1) As of September 30, 2021, the senior secured asset-based revolving credit facility (the “ABL Facility”) had a facility size of $450.0 million, no outstanding borrowings and $28.5 million of outstanding letters of credit, resulting in $421.5 million of borrowing base availability. (2) Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2022 through 2045. The Company’s weighted average interest rate was 5.4% and 5.5% as of September 30, 2021 and December 31, 2020, respectively. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $5.9 billion and $6.2 billion as of September 30, 2021 and December 31, 2020, respectively. Under the fair value hierarchy established by ASC 820-10-35, the market value of the Company’s debt is classified as either Level 1 or Level 2. On July 16, 2021, iHeartCommunications, Inc. ("iHeartCommunications") entered into an amendment to the credit agreement governing its Term Loan credit facilities. The amendment reduced the interest rate of its Incremental Term Loan Facility due 2026 to a Eurocurrency Rate of LIBOR plus a margin of 3.25% and floor of 0.50% (from LIBOR plus a margin of 4.00% and floor of 0.75%). The Base Rate interest amount was reduced to Base Rate plus a margin of 2.25% and floor of 1.50%. In connection with the amendment, iHeartCommunications voluntarily prepaid $250.0 million of borrowings outstanding under the Term Loan credit facilities with cash on hand, resulting in a reduction of $44.3 million of the existing Incremental Term Loan Facility due 2026 and $205.7 million of the Term Loan Facility due 2026. Under the terms of the Term Loan Facility Credit Agreement, iHeartCommunications made quarterly principal payments of $6.4 million during the three months ended March 31, 2021, June 30, 2021 and September 30, 2020, and previously made payments of $5.25 million during the three months ended March 31, 2020 and June 30, 2020. Following the prepayment of $250.0 million of borrowings outstanding under the Term Loan credit facilities on July 16, 2021, iHeartCommunications is no longer required to make such quarterly payments. Mandatorily Redeemable Preferred Stock As previously disclosed, on March 14, 2018, the Company, iHeartCommunications and certain of the Company's direct and indirect domestic subsidiaries (collectively, the "Debtors") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court"). On April 28, 2018, the Company and the other Debtors filed a plan of reorganization (as amended, the “Plan of Reorganization”) and a related disclosure statement with the Bankruptcy Court. On January 22, 2019, the Plan of Reorganization was confirmed by the Bankruptcy Court. On May 1, 2019 (the “Effective Date”), in accordance with the Plan of Reorganization, iHeart Operations issued 60,000 shares of its Series A Perpetual Preferred Stock, par value $0.001 per share (the "iHeart Operations Preferred Stock"), having an aggregate initial liquidation preference of $60.0 million for a cash purchase price of $60.0 million. The iHeart Operations Preferred Stock was purchased by a third party investor. As of September 30, 2021, the liquidation preference of the iHeart Operations Preferred Stock was $60.0 million. The iHeart Operations Preferred Stock was mandatorily redeemable for cash at a date certain and therefore is classified as a liability in the Company's balance sheet. On October 27, 2021, iHeart Operations repurchased all of the iHeart Operations Preferred Stock with cash on hand for an aggregate price of $64.4 million (“Redemption Price”), including accrued dividends, upon obtaining consent from the third party investor. The Redemption Price included a negotiated make-whole premium as the redemption occurred prior to the optional redemption date set forth in the Certificate of Designation governing the iHeart Operations Preferred Stock. Subsequent to the transaction, the preferred shares were retired and cancelled and are no longer outstanding. Holders of the iHeart Operations Preferred Stock were entitled to receive, as declared by the board of directors of iHeart Operations, in respect of each share, cumulative dividends accruing daily and payable quarterly. Dividends were payable on March 31, June 30, September 30 and December 31 of each year (or on the next business day if such date is not a business day). During the three months ended September 30, 2021 and 2020 the Company recognized $2.3 million and $2.7 million, respectively, of interest expense related to dividends on mandatorily redeemable preferred stock. During the nine months ended September 30, 2021 and 2020 the Company recognized $6.9 million and $6.9 million, respectively, of interest expense related to dividends on mandatorily redeemable preferred stock. Surety Bonds, Letters of Credit and Guarantees As of September 30, 2021, the Company and its subsidiaries had outstanding surety bonds, commercial standby letters of credit and bank guarantees of $8.8 million, $28.9 million and $0.2 million, respectively. These surety bonds, letters of credit and bank guarantees relate to various operational matters including insurance, lease and performance bonds as well as other items.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESThe Company and its subsidiaries are involved in certain legal proceedings arising in the ordinary course of business and, as required, have accrued an estimate of the probable costs for the resolution of those claims for which the occurrence of loss is probable and the amount can be reasonably estimated. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement strategies. It is possible, however, that future results of operations for any particular period could be materially affected by changes in the Company’s assumptions or the effectiveness of its strategies related to these proceedings. Additionally, due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company’s financial condition or results of operations. Although the Company is involved in a variety of legal proceedings in the ordinary course of business, a large portion of the Company’s litigation arises in the following contexts: commercial/contract disputes; defamation matters; employment and benefits related claims; intellectual property claims; real estate matters; governmental investigations; and tax disputes. Alien Ownership Restrictions and FCC Petitions for Declaratory Ruling The Communications Act and FCC regulation prohibit foreign entities and individuals from having direct or indirect ownership or voting rights of more than 25 percent in a corporation controlling the licensee of a radio broadcast station unless the FCC finds greater foreign ownership to be in the public interest. Under the Plan of Reorganization, the Company committed to file a petition for declaratory ruling (the “PDR”) requesting the FCC to permit the Company to be up to 100% foreign-owned. On November 5, 2020, the FCC issued a declaratory ruling granting the relief requested by the PDR (the “Declaratory Ruling”), subject to certain conditions, as described further in Note 8, Stockholder's Equity below. On November 9, 2020, the Company notified the holders of Special Warrants of the commencement of an exchange process (the “Exchange Notice”). On January 8, 2021, the Company exchanged a portion of the outstanding Special Warrants into Class A common stock or Class B common stock, in compliance with the Declaratory Ruling, the Communications Act and FCC rules (the “Exchange”). Following the Exchange, the Company’s remaining Special Warrants continue to be exercisable for shares of Class A common stock or Class B common stock. See “Item 1. Business – Regulation of Our Business, Alien Ownership Restrictions” of our Annual Report on Form 10-K for the year ended December 31, 2020 and "Part II, Item 1A. Risk Factors - Regulatory, Legislative and Litigation Risks, Regulations imposed by the Communications Act and the FCC limit the amount of foreign individuals or entities that may invest in our capital stock without FCC approval" in this Quarterly Report on Form 10-Q for additional information. On March 8, 2021, the Company filed a remedial petition for declaratory ruling (the “Remedial PDR”) with the FCC. The Remedial PDR relates to the acquisition by Global Media & Entertainment Investments Ltd (f/k/a Honeycomb Investments Limited) (“Global Investments”) of the Company’s Class A Common Stock. Specifically, on February 5, 2021, Global Investments, The Global Media & Entertainment Investments Trust (the “GMEI Trust”), James Hill (as trustee of the GMEI Trust), Simon Groom (as trustee of the GMEI Trust) and Michael Tabor (as beneficiary of the GMEI Trust) (together with Global Investments and any affiliates or third parties to whom they may assign or transfer any of their rights or interests, the “GMEI Investors”) filed a Schedule 13D with the SEC, in which the GMEI Investors disclosed beneficial ownership of 9,631,329 shares of the Company’s Class A Common Stock, which at that time represented approximately 8.7% of the Company’s outstanding Class A Common Stock. This ownership interest is inconsistent with the FCC’s foreign ownership rules and the Declaratory Ruling issued by the FCC relating to the Company’s foreign ownership on November 5, 2020, both of which limit a foreign investor in the GMEI Investors’ position to holding no more than 5% of the Company’s voting equity or total equity without prior FCC approval. The Remedial PDR, which was filed pursuant to the rules and regulations of the FCC, seeks (a) specific approval for the more than 5% equity and voting interests in the Company presently held by the GMEI Investors and (b) as amended, advance approval for the GMEI Investors to increase their equity and voting interest in the Company up to any non-controlling amount not to exceed 14.99%. The Remedial PDR remains pending before the FCC. On March 26, 2021, the FCC conditioned the approval of applications by the Company to acquire certain radio stations, which were pending prior to the GMEI Investors’ Schedule 13D filing, on the Company taking certain actions with respect to the GMEI Investors' rights as stockholders of the Company. On that same date, and in order to implement the conditions required by the FCC, the Company’s Board of Directors (the “Board”) resolved to take certain actions to limit the rights of the GMEI Investors, including, but not limited to, suspending all voting rights of GEMI Investors until and unless the FCC releases a declaratory ruling granting specific approval for each of the GMEI Investors to hold more than 5 percent of the equity and/or voting interests of the Company. Tax Matters Agreement On the Effective Date, the Company emerged from Chapter 11 and effectuated a series of transactions through which Clear Channel Outdoor Holdings, Inc. ("CCOH"), its parent Clear Channel Holdings, Inc. (“CCH”) and its subsidiaries (collectively with CCOH and CCH, the “Outdoor Group”) were separated from, and ceased to be controlled by, the Company and its subsidiaries (the “Separation”). In connection with the Separation, the Company entered into the Tax Matters Agreement by and among iHeartMedia, iHeartCommunications, iHeart Operations, Inc., CCH, CCOH and Clear Channel Outdoor, Inc., to allocate the responsibility of iHeartMedia and its subsidiaries, on the one hand, and CCOH and its subsidiaries, on the other, for the payment of taxes arising prior and subsequent to, and in connection with, the Separation. The Tax Matters Agreement requires that iHeartMedia and iHeartCommunications indemnify CCOH and its subsidiaries, and their respective directors, officers and employees, and hold them harmless, on an after-tax basis, from and against certain tax claims related to the Separation. In addition, the Tax Matters Agreement requires that CCOH indemnify iHeartMedia for certain income taxes paid by iHeartMedia on behalf of CCOH and its subsidiaries.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES On March 11, 2021 the President signed into law the American Rescue Plan Act, which included provisions on taxes, health care, unemployment benefits, direct payments, state and local funding and other issues. The tax provisions will not have a material impact on the Company’s tax provision calculations. The Company’s income tax benefit (expense) for the three and nine months ended September 30, 2021 and the three and nine months ended September 30, 2020 consisted of the following components: (In thousands) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Current tax expense $ (7,651) $ (1,698) $ (12,717) $ (5,134) Deferred tax benefit (expense) 34,798 16,926 (64,520) 214,615 Income tax benefit (expense) $ 27,147 $ 15,228 $ (77,237) $ 209,481 The effective tax rates for the three and nine months ended September 30, 2021 were 115.6% and (40.0)%, respectively. The effective tax rates were primarily impacted by the forecasted increase in valuation allowance against certain deferred tax assets, related primarily to disallowed interest expense carryforwards, due to uncertainty regarding the Company’s ability to utilize those assets in future periods. The effective tax rates for the three and nine months ended September 30, 2020 were 32.2% and 9.8%, respectively. The effective tax rate for the nine months ended September 30, 2020 was primarily impacted by the impairment charges to non-deductible goodwill. The deferred tax benefit primarily consists of $125.5 million related to the FCC license impairment charges recorded during the period.

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDER'S EQUITY	STOCKHOLDER'S EQUITY Pursuant to the Company's 2019 Eq uity Incentive Plan (the "2019 Plan"), the Company historically granted restricted stock units and options to purchase shares of the Company's Class A common stock to certain key individuals. On April 21, 2021, our 2021 Long-Term Incentive Award Plan (the “2021 Plan”) was approved by stockholders and replaced the 2019 Plan. Pursuant to our 2021 Plan, we will continue to grant restricted stock units and options to purchase shares of the Company's Class A common stock to certain key individuals. Share-based Compensation Share-based compensation expenses are recorded in Selling, general and administrative expenses and were $6.0 million and $5.9 million for the Company for the three months ended September 30, 2021 and the three months ended September 30, 2020, respectively. Share-based compensation expenses are recorded in Selling, general and administrative expenses and were $17.6 million and $14.7 million for the Company for the nine months ended September 30, 2021 and September 30, 2020, respectively. In August 2020, the Company issued performance-based restricted stock units ("Performance RSUs") to certain key employees. Such Performance RSUs vest upon the achievement of critical operational (cost savings) improvements and specific environmental, social and governance initiatives, which are being measured over an approximately 18-month period from the date of issuance. In the three and nine months ended September 30, 2021, the Company recognized $0.4 million and $1.4 million in relation to these Performance RSUs. In the three and nine months ended September 30, 2020, the Company recognized $1.1 million in relation to these Performance RSUs. As of September 30, 2021, there was $45.0 million of unrecognized compensation cost related to unvested share-based compensation arrangements with vesting based on service conditions. This cost is expected to be recognized over a weighted average period of approximately 2.3 years. In addition, as of September 30, 2021, there was $0.3 million of unrecognized compensation cost related to unvested share-based compensation arrangements that will vest based on certain performance conditions. Common Stock and Special Warrants The Company is authorized to issue 2,100,000,000 shares, consisting of (a) 1,000,000,000 shares of Class A Common Stock, par value $0.001 per share (the “Class A Common Stock”), (b) 1,000,000,000 shares of Class B Common Stock, par value $0.001 per share (the “Class B Common Stock”), and (c) 100,000,000 shares of preferred stock, par value $0.001 per share (the “Preferred Stock”). The following table presents the Company's Class A Common Stock, Class B Common Stock and Special Warrants issued and outstanding as of September 30, 2021: September 30, (Unaudited) Class A Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 119,669,831 Class B Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 22,505,661 Special Warrants 5,304,430 Total Class A Common Stock, Class B Common Stock and Special Warrants issued 147,479,922 During the three and nine months ended September 30, 2021, stockholders converted 1,130,851 and 6,718,576 shares of the Class B common stock into Class A common stock. During the three and nine months ended September 30, 2020, stockholders converted 7,263 and 13,323 shares of the Class B common stock into Class A common stock. Special Warrants Each Special Warrant issued under the special warrant agreement entered into in connection with the Reorganization may be exercised by its holder to purchase one share of Class A common stock or Class B common stock at an exercise price of $0.001 per share, unless the Company in its sole discretion believes such exercise would, alone or in combination with any other existing or proposed ownership of common stock, result in, subject to certain exceptions, (a) such exercising holder owning more than 4.99 percent of the Company's outstanding Class A common stock, (b) more than 22.5 percent of the Company's capital stock or voting interests being owned directly or indirectly by foreign individuals or entities, (c) the Company exceeding any other applicable foreign ownership threshold or (d) violation of any provision of the Communications Act or restrictions on ownership or transfer imposed by the Company's certificate of incorporation or the decisions, rules and policies of the FCC. Any holder exercising Special Warrants must complete and timely deliver to the warrant agent the required exercise forms and certifications required under the special warrant agreement. The Communications Act and FCC regulations prohibit foreign entities or individuals from indirectly (i.e., through a parent company) owning or voting more than 25 percent of a licensee’s equity, unless the FCC determines that greater indirect foreign ownership is in the public interest. As described further in Note 6 above, on July 25, 2019, the Company filed a PDR requesting FCC consent to exceed the 25 percent foreign ownership and voting benchmarks. On November 5, 2020, the FCC issued the Declaratory Ruling granting the relief requested by the PDR. On November 9, 2020, the Company sent Exchange Notices to the holders of Special Warrants, notifying them of the Exchange process. On January 8, 2021, the Company exchanged a portion of the outstanding Special Warrants into Class A common stock or Class B common stock, in compliance with the Declaratory Ruling, the Communications Act and FCC rules. Following the Exchange, the Company’s remaining Special Warrants continue to be exercisable for shares of Class A common stock or Class B common stock. See "Part II, Item 1A. Risk Factors - Regulations imposed by the Communications Act and the FCC limit the amount of foreign individuals or entities that may invest in our capital stock without FCC approval" of this Quarterly Report on Form 10-Q and "Part I, Item 1. Business – Regulation of Our Business, Alien Ownership Restrictions" of our Annual Report on Form 10-K for the year ended December 31, 2020 for additional information. During the three and nine months ended September 30, 2021, stockholders exercised 60,698 and 47,197,139 Special Warrants for an equivalent number of shares of Class A common stock, respectively. There were no Special Warrants exercised for an equivalent number of shares of Class B common stock during the three months ended September 30, 2021. During the nine months ended September 30, 2021, stockholders exercised 22,337,312 Special Warrants for an equivalent number of shares of Class B common stock. During the three and nine months ended September 30, 2020 , stockholders exercised 1,986,278 and 4,990,132 Special Warrants for an equivalent number of shares of Class A common stock. During the three and nine months ended September 30, 2020, stockholders exercised 704 and 2,049 Special Warrants for an equivalent number of shares of Class B common stock. As further described in Note 6, Commitments and Contingencies above, on March 26, 2021, the Company’s Board resolved to take certain actions to limit the rights of the GMEI Investors in order to implement certain conditions required by the FCC. Such actions, included, but are not limited to, suspending all voting rights of GMEI Investors until and unless the FCC releases a declaratory ruling granting specific approval for each of the GMEI Investors to hold more than 5% of the equity and/or voting interests of the Company. Computation of Loss per Share (In thousands, except per share data) Three Months Ended Nine Months Ended 2021 2020 2021 2020 NUMERATOR: Net income (loss) attributable to the Company – common shares $ 3,180 $ (32,112) $ (270,829) $ (1,918,165) DENOMINATOR (1) : Weighted average common shares outstanding - basic 147,040 146,152 146,591 145,911 Stock options and restricted stock (2) : 3,357 — — — Weighted average common shares outstanding - diluted 150,397 146,152 146,591 145,911 Net income (loss) attributable to the Company per common share: Basic $ 0.02 $ (0.22) $ (1.85) $ (13.15) Diluted $ 0.02 $ (0.22) $ (1.85) $ (13.15) (1) All of the outstanding Special Warrants are included in both the basic and diluted weighted average common shares outstanding of the Company for the three and nine months ended September 30, 2021 and 2020. (2) Outstanding equity awards representing 0.3 million and 9.6 million shares of Class A common stock of the Company for the three months ended September 30, 2021 and 2020, respectively, and 10.6 million and 8.5 million for the nine months ended September 30, 2021 and 2020, respectively, were not included in the computation of diluted earnings per share because to do so would have been antidilutive. On May 5, 2021, the Company’s short-term stockholder rights plan expired in accordance with its terms and the rights are no longer outstanding.

SEGMENT DATA

SEGMENT DATA	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA As discussed in Note 1, in connection with certain leadership and organizational changes implemented in the first quarter 2021, the Company revised its segment reporting as of January 1, 2021. The corresponding current and prior period segment disclosures were recast to reflect the current segment presentation. Segment Adjusted EBITDA is the segment profitability metric reported to the Company’s Chief Operating Decision Maker for purposes of decisions about allocation of resources to, and assessing performance of, each reportable segment. The Company’s primary businesses are included in its Multiplatform Group and Digital Audio Group segments. Revenue and expenses earned and charged between Multiplatform Group, Digital Audio Group, Corporate and the Company's Audio & Media Services Group are eliminated in consolidation. The Multiplatform Group provides media and entertainment services via broadcast delivery and also includes the Company’s events and national syndication businesses. The Digital Audio Group provides media and entertainment services via digital delivery. The Audio & Media Services Group provides other audio and media services, including the Company’s media representation business (Katz Media) and its provider of scheduling and broadcast software (RCS). Corporate includes infrastructure and support, including executive, information technology, human resources, legal, finance and administrative functions for the Company’s businesses. Share-based payments are recorded in Selling, general and administrative expense. The following tables present the Company's segment results for the Company for the three and nine months ended September 30, 2021 and 2020: Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended September 30, 2021 Revenue $ 658,979 $ 205,769 $ 66,078 $ — $ (2,775) $ 928,051 Operating expenses (1) 450,549 138,646 43,656 67,762 (2,775) 697,838 Segment Adjusted EBITDA (2) $ 208,430 $ 67,123 $ 22,422 $ (67,762) $ — $ 230,213 Depreciation and amortization (108,100) Impairment charges (11,647) Other operating expense, net (12,341) Restructuring expenses (12,021) Share-based compensation expense (5,993) Operating income $ 80,111 Intersegment revenues $ 112 $ 1,475 $ 1,188 $ — $ — $ 2,775 Capital expenditures $ 35,082 $ 6,223 $ 3,967 $ 5,002 $ — $ 50,274 Share-based compensation expense $ — $ — $ — $ 5,993 $ — $ 5,993 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended September 30, 2020 Revenue $ 555,097 $ 116,200 $ 75,039 $ — $ (1,930) $ 744,406 Operating expenses (1) 416,131 81,042 46,247 40,792 (1,930) 582,282 Segment Adjusted EBITDA (2) $ 138,966 $ 35,158 $ 28,792 $ (40,792) $ — $ 162,124 Depreciation and amortization (99,379) Other operating expense, net (1,675) Restructuring expenses (15,790) Share-based compensation expense (5,885) Operating income $ 39,395 Intersegment revenues $ 168 $ — $ 1,762 $ — $ — $ 1,930 Capital expenditures $ 12,056 $ 4,029 $ 850 $ 2,042 $ — $ 18,977 Share-based compensation expense $ — $ — $ — $ 5,885 $ — $ 5,885 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Nine Months Ended September 30, 2021 Revenue $ 1,762,726 $ 561,252 $ 182,390 $ — $ (10,047) $ 2,496,321 Operating expenses (1) 1,268,107 399,828 124,148 197,317 (10,047) 1,979,353 Segment Adjusted EBITDA (2) $ 494,619 $ 161,424 $ 58,242 $ (197,317) $ — $ 516,968 Depreciation and amortization (343,408) Impairment charges (49,391) Other operating expense, net (27,491) Restructuring expenses (47,216) Share-based compensation expense (17,581) Operating income $ 31,881 Intersegment revenues $ 447 $ 4,547 $ 5,053 $ — $ — $ 10,047 Capital expenditures $ 66,522 $ 17,934 $ 6,158 $ 10,721 $ — $ 101,335 Share-based compensation expense $ — $ — $ — $ 17,581 $ — $ 17,581 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Nine Months Ended September 30, 2020 Revenue $ 1,541,823 $ 302,203 $ 174,517 $ — $ (5,855) $ 2,012,688 Operating expenses (1) 1,265,094 231,589 127,774 120,906 (5,855) 1,739,508 Segment Adjusted EBITDA (2) $ 276,729 $ 70,614 $ 46,743 $ (120,906) $ — $ 273,180 Depreciation and amortization (299,494) Impairment charges (1,733,235) Other operating expense, net (3,247) Restructuring expenses (72,947) Share-based compensation expense (14,728) Operating loss $ (1,850,471) Intersegment revenues $ 503 $ — $ 5,352 $ — $ — $ 5,855 Capital expenditures $ 34,843 $ 10,714 $ 2,473 $ 10,493 $ — $ 58,523 Share-based compensation expense $ — $ — $ — $ 14,728 $ — $ 14,728 (1) Consolidated operating expenses consist of Direct operating expenses and Selling, general and administrative expenses and exclude Restructuring expenses, share-based compensation expenses and depreciation and amortization.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Principles of Consolidation	The accompanying consolidated financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. The financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. As of January 1, 2021, the Company began reporting based on three reportable segments: ▪ the iHeartMedia Multiplatform Group, which includes the Company's Broadcast radio, Networks and Sponsorships and Events businesses; ▪ the iHeartMedia Digital Audio Group, which includes all of the Company's Digital businesses, including Podcasting; and ▪ the Audio & Media Services Group, which includes Katz Media Group (“Katz Media”), a full-service media representation business, and RCS Sound Software ("RCS"), a provider of scheduling and broadcast software and services. These reporting segments reflect how senior management operates the Company and align with certain leadership and organizational changes implemented in the first quarter 2021. This structure provides improved visibility into the underlying performances, results, and margin profiles of our distinct businesses and enables senior management to better monitor trends at the operational level and address opportunities or issues as they arise via regular review of segment-level results and forecasts with operational leaders. Additionally, as of January 1, 2021, Segment Adjusted EBITDA is the segment profitability metric reported to the Company's Chief Operating Decision Maker for purposes of making decisions about allocation of resources to, and assessing performance of, each reportable segment. Segment Adjusted EBITDA is calculated as Revenue less operating expenses, excluding restructuring expenses and share-based compensation expenses. Restructuring expenses primarily include severance expenses incurred in connection with cost saving initiatives, as well as certain expenses, which, in the view of management, are outside the ordinary course of business or otherwise not representative of the Company's operations during a normal business cycle. The corresponding current and prior period segment disclosures have been recast to reflect the current segment presentation. See Note 9, Segment Data .
Reclassifications and New Segment Presentation	Reclassifications and New Segment Presentation Certain prior period amounts have been reclassified to conform to the 2021 presentation. In connection with the organization and leadership changes resulting in the realignment of its reportable segments as discussed above, the Company also determined that all selling, general and administrative expenses incurred by its reportable segments and by its corporate functions would be reported together as Selling, general and administrative expenses. Amounts presented in prior years as Corporate expenses have been reclassified as Selling, general and administrative expenses to conform to the current presentation.
New Accounting Pronouncements Recently Adopted	New Accounting Pronouncements Recently Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of the Interbank Offered Rate Transition on Financial Reporting to provide optional relief from applying generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform. In addition, in January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848) – Scope, to clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The guidance is effective upon issuance and generally can be applied through December 31, 2022. The Company is currently evaluating the future impact of adoption of this standard.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets to the total of the amounts reported in the Consolidated Statements of Cash Flows: (In thousands) September 30, December 31, Cash and cash equivalents $ 369,094 $ 720,662 Restricted cash included in: Other current assets 426 — Other assets — 525 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 369,520 $ 721,187

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables show revenue streams for the three and nine months ended September 30, 2021 and 2020: (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Three Months Ended September 30, 2021 Revenue from contracts with customers: Broadcast Radio (1) $ 483,456 $ — $ — $ — $ 483,456 Networks (2) 127,920 — — — 127,920 Sponsorship and Events (3) 42,663 — — — 42,663 Digital, excluding Podcast (4) — 141,573 — (1,475) 140,098 Podcast (5) — 64,196 — — 64,196 Audio & Media Services (6) — — 66,078 (1,188) 64,890 Other (7) 4,636 — — (112) 4,524 Total 658,675 205,769 66,078 (2,775) 927,747 Revenue from leases (8) 304 — — — 304 Revenue, total $ 658,979 $ 205,769 $ 66,078 $ (2,775) $ 928,051 Three Months Ended September 30, 2020 Revenue from contracts with customers: Broadcast Radio (1) $ 404,460 $ — $ — $ — $ 404,460 Networks (2) 118,982 — — — 118,982 Sponsorship and Events (3) 28,898 — — — 28,898 Digital, excluding Podcast (4) — 93,574 — — 93,574 Podcast (5) — 22,626 — — 22,626 Audio & Media Services (6) — — 75,039 (1,762) 73,277 Other (7) 2,180 — — (168) 2,012 Total 554,520 116,200 75,039 (1,930) 743,829 Revenue from leases (8) 577 — — — 577 Revenue, total $ 555,097 $ 116,200 $ 75,039 $ (1,930) $ 744,406 (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Nine Months Ended September 30, 2021 Revenue from contracts with customers: Broadcast Radio (1) $ 1,293,134 $ — $ — $ — $ 1,293,134 Networks (2) 366,592 — — — 366,592 Sponsorship and Events (3) 93,641 — — — 93,641 Digital, excluding Podcast (4) — 405,276 — (4,547) 400,729 Podcast (5) — 155,976 — — 155,976 Audio & Media Services (6) — — 182,390 (5,053) 177,337 Other (7) 8,226 — — (447) 7,779 Total 1,761,593 561,252 182,390 (10,047) 2,495,188 Revenue from leases (8) 1,133 — — — 1,133 Revenue, total $ 1,762,726 $ 561,252 $ 182,390 $ (10,047) $ 2,496,321 Nine Months Ended September 30, 2020 Revenue from contracts with customers: Broadcast Radio (1) $ 1,110,155 $ — $ — $ — $ 1,110,155 Networks (2) 349,889 — — — 349,889 Sponsorship and Events (3) 73,055 — — — 73,055 Digital, excluding Podcast (4) — 242,479 — — 242,479 Podcast (5) — 59,724 — — 59,724 Audio & Media Services (6) — — 174,517 (5,352) 169,165 Other (7) 7,284 — — (503) 6,781 Total 1,540,383 302,203 174,517 (5,855) 2,011,248 Revenue from leases (8) 1,440 — — — 1,440 Revenue, total $ 1,541,823 $ 302,203 $ 174,517 $ (5,855) $ 2,012,688 (1) Broadcast Radio revenue is generated through the sale of advertising time on the Company’s domestic radio stations. (2) Networks revenue is generated through the sale of advertising on the Company’s Premiere and Total Traffic & Weather network programs and through the syndication of network programming to other media companies. (3) Sponsorship and events revenue is generated through local events and major nationally-recognized tent pole events and include sponsorship and other advertising revenue, ticket sales, and licensing, as well as endorsement and appearance fees generated by on-air talent. (4) Digital, excluding Podcast revenue is generated through the sale of streaming and display advertisements on digital platforms and through subscriptions to iHeartRadio streaming services. (5) Podcast revenue is generated through the sale of advertising on the Company's podcast network. (6) Audio & Media Services revenue is generated by services provided to broadcast industry participants through the Company’s Katz Media and RCS businesses. As a media representation firm, Katz Media generates revenue via commissions on media sold on behalf of the radio and television stations that it represents, while RCS generates revenue by providing broadcast and webcast software and technology and services to radio stations, television music channels, cable companies, satellite music networks and Internet stations worldwide. (7) Other revenue represents fees earned for miscellaneous services, including on-site promotions, activations, and local marketing agreements. (8) Revenue from leases is primarily generated by the lease of towers to other media companies, which are all categorized as operating leases.
Barter and Trade Revenues and Expenses	Trade and barter revenues and expenses, which are included in consolidated revenue and selling, general and administrative expenses, respectively, were as follows: Three Months Ended Nine Months Ended (In thousands) 2021 2020 2021 2020 Trade and barter revenues $ 49,200 $ 41,430 $ 127,654 $ 113,861 Trade and barter expenses 33,955 44,109 101,998 116,182
Schedule of Contract with Customer, Asset and Liability	The following tables show the Company’s deferred revenue balance from contracts with customers: Three Months Ended Nine Months Ended (In thousands) 2021 2020 2021 2020 Deferred revenue from contracts with customers: Beginning balance (1) $ 149,731 $ 178,030 $ 145,493 $ 162,068 Revenue recognized, included in beginning balance (52,406) (79,261) (84,375) (86,419) Additions, net of revenue recognized during period, and other 56,799 73,352 93,006 96,472 Ending balance $ 154,124 $ 172,121 $ 154,124 $ 172,121 (1) Deferred revenue from contracts with customers, which excludes other sources of deferred revenue that are not related to contracts with customers, is included within deferred revenue and other long-term liabilities on the Consolidated Balance Sheets, depending upon when revenue is expected to be recognized.
Schedule of Future Lease Payments to be Received	As of September 30, 2021, the future lease payments to be received by the Company are as follows: (In thousands) 2021 $ 277 2022 910 2023 759 2024 579 2025 394 Thereafter 1,828 Total $ 4,747

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table provides supplemental cash flow information related to leases for the periods presented: Nine Months Ended September 30, (In thousands) 2021 2020 Cash paid for amounts included in measurement of operating lease liabilities $ 100,815 $ 99,634 Lease liabilities arising from obtaining right-of-use assets (1) 35,317 41,982 (1) Lease liabilities from obtaining right-of-use assets include new leases entered into during the nine months ended September 30, 2021 and 2020, respectively.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The Company’s property, plant and equipment consisted of the following classes of assets as of September 30, 2021 and December 31, 2020, respectively: (In thousands) September 30, December 31, Land, buildings and improvements $ 337,696 $ 386,980 Towers, transmitters and studio equipment 174,461 169,788 Computer equipment and software 489,027 398,084 Furniture and other equipment 31,711 45,711 Construction in progress 64,769 25,073 1,097,664 1,025,636 Less: accumulated depreciation 327,895 213,934 Property, plant and equipment, net $ 769,769 $ 811,702
Schedule of Gross Carrying Amount and Accumulated Amortization for Other Intangible Assets	The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets as of September 30, 2021 and December 31, 2020, respectively: (In thousands) September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,636,357 $ (415,720) $ 1,620,509 $ (286,066) Talent and other contracts 338,900 (106,266) 375,900 (84,065) Trademarks and tradenames 335,861 (79,714) 326,061 (54,358) Other 27,994 (8,047) 31,351 (4,840) Total $ 2,339,112 $ (609,747) $ 2,353,821 $ (429,329)
Schedule of Future Amortization Expense	The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets: (In thousands) 2022 $ 254,720 2023 246,014 2024 244,589 2025 213,396 2026 201,474
Schedule of Changes in Carrying Amount of Goodwill	The following table presents the changes in the carrying amount of goodwill: (In thousands) Audio Audio & Media Services Consolidated Balance as of December 31, 2019 $ 3,221,468 $ 104,154 $ 3,325,622 Impairment (1,224,374) — (1,224,374) Acquisitions 44,606 — 44,606 Dispositions (164) — (164) Foreign currency — 245 245 Balance as of December 31, 2020 $ 2,041,536 $ 104,399 $ 2,145,935 (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Consolidated Balance as of January 1, 2021 $ 1,462,217 $ 579,319 $ 104,399 $ 2,145,935 Acquisitions 1,267 168,224 — 169,491 Dispositions (1,446) — — (1,446) Foreign currency — — (156) (156) Balance as of September 30, 2021 $ 1,462,038 $ 747,543 $ 104,243 $ 2,313,824

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Outstanding	Long-term debt outstanding for the Company as of September 30, 2021 and December 31, 2020 consisted of the following: (In thousands) September 30, 2021 December 31, 2020 Term Loan Facility due 2026 $ 1,864,032 $ 2,080,259 Incremental Term Loan Facility due 2026 401,220 447,750 Asset-based Revolving Credit Facility due 2023 (1) — — 6.375% Senior Secured Notes due 2026 800,000 800,000 5.25% Senior Secured Notes due 2027 750,000 750,000 4.75% Senior Secured Notes due 2028 500,000 500,000 Other secured subsidiary debt (2) 5,369 22,753 Total consolidated secured debt 4,320,621 4,600,762 8.375% Senior Unsecured Notes due 2027 1,450,000 1,450,000 Other unsecured subsidiary debt — 6,782 Original issue discount (14,156) (18,817) Long-term debt fees (19,090) (21,797) Total debt 5,737,375 6,016,930 Less: Current portion 725 34,775 Total long-term debt $ 5,736,650 $ 5,982,155 (1) As of September 30, 2021, the senior secured asset-based revolving credit facility (the “ABL Facility”) had a facility size of $450.0 million, no outstanding borrowings and $28.5 million of outstanding letters of credit, resulting in $421.5 million of borrowing base availability. (2) Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2022 through 2045.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The Company’s income tax benefit (expense) for the three and nine months ended September 30, 2021 and the three and nine months ended September 30, 2020 consisted of the following components: (In thousands) Three Months Ended Nine Months Ended 2021 2020 2021 2020 Current tax expense $ (7,651) $ (1,698) $ (12,717) $ (5,134) Deferred tax benefit (expense) 34,798 16,926 (64,520) 214,615 Income tax benefit (expense) $ 27,147 $ 15,228 $ (77,237) $ 209,481

STOCKHOLDER'S EQUITY (Tables)

STOCKHOLDER'S EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Stock by Class	The following table presents the Company's Class A Common Stock, Class B Common Stock and Special Warrants issued and outstanding as of September 30, 2021: September 30, (Unaudited) Class A Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 119,669,831 Class B Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 22,505,661 Special Warrants 5,304,430 Total Class A Common Stock, Class B Common Stock and Special Warrants issued 147,479,922
Schedule of Loss Per Share	(In thousands, except per share data) Three Months Ended Nine Months Ended 2021 2020 2021 2020 NUMERATOR: Net income (loss) attributable to the Company – common shares $ 3,180 $ (32,112) $ (270,829) $ (1,918,165) DENOMINATOR (1) : Weighted average common shares outstanding - basic 147,040 146,152 146,591 145,911 Stock options and restricted stock (2) : 3,357 — — — Weighted average common shares outstanding - diluted 150,397 146,152 146,591 145,911 Net income (loss) attributable to the Company per common share: Basic $ 0.02 $ (0.22) $ (1.85) $ (13.15) Diluted $ 0.02 $ (0.22) $ (1.85) $ (13.15) (1) All of the outstanding Special Warrants are included in both the basic and diluted weighted average common shares outstanding of the Company for the three and nine months ended September 30, 2021 and 2020. (2) Outstanding equity awards representing 0.3 million and 9.6 million shares of Class A common stock of the Company for the three months ended September 30, 2021 and 2020, respectively, and 10.6 million and 8.5 million for the nine

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Reportable Segment Results	The following tables present the Company's segment results for the Company for the three and nine months ended September 30, 2021 and 2020: Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended September 30, 2021 Revenue $ 658,979 $ 205,769 $ 66,078 $ — $ (2,775) $ 928,051 Operating expenses (1) 450,549 138,646 43,656 67,762 (2,775) 697,838 Segment Adjusted EBITDA (2) $ 208,430 $ 67,123 $ 22,422 $ (67,762) $ — $ 230,213 Depreciation and amortization (108,100) Impairment charges (11,647) Other operating expense, net (12,341) Restructuring expenses (12,021) Share-based compensation expense (5,993) Operating income $ 80,111 Intersegment revenues $ 112 $ 1,475 $ 1,188 $ — $ — $ 2,775 Capital expenditures $ 35,082 $ 6,223 $ 3,967 $ 5,002 $ — $ 50,274 Share-based compensation expense $ — $ — $ — $ 5,993 $ — $ 5,993 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended September 30, 2020 Revenue $ 555,097 $ 116,200 $ 75,039 $ — $ (1,930) $ 744,406 Operating expenses (1) 416,131 81,042 46,247 40,792 (1,930) 582,282 Segment Adjusted EBITDA (2) $ 138,966 $ 35,158 $ 28,792 $ (40,792) $ — $ 162,124 Depreciation and amortization (99,379) Other operating expense, net (1,675) Restructuring expenses (15,790) Share-based compensation expense (5,885) Operating income $ 39,395 Intersegment revenues $ 168 $ — $ 1,762 $ — $ — $ 1,930 Capital expenditures $ 12,056 $ 4,029 $ 850 $ 2,042 $ — $ 18,977 Share-based compensation expense $ — $ — $ — $ 5,885 $ — $ 5,885 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Nine Months Ended September 30, 2021 Revenue $ 1,762,726 $ 561,252 $ 182,390 $ — $ (10,047) $ 2,496,321 Operating expenses (1) 1,268,107 399,828 124,148 197,317 (10,047) 1,979,353 Segment Adjusted EBITDA (2) $ 494,619 $ 161,424 $ 58,242 $ (197,317) $ — $ 516,968 Depreciation and amortization (343,408) Impairment charges (49,391) Other operating expense, net (27,491) Restructuring expenses (47,216) Share-based compensation expense (17,581) Operating income $ 31,881 Intersegment revenues $ 447 $ 4,547 $ 5,053 $ — $ — $ 10,047 Capital expenditures $ 66,522 $ 17,934 $ 6,158 $ 10,721 $ — $ 101,335 Share-based compensation expense $ — $ — $ — $ 17,581 $ — $ 17,581 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Nine Months Ended September 30, 2020 Revenue $ 1,541,823 $ 302,203 $ 174,517 $ — $ (5,855) $ 2,012,688 Operating expenses (1) 1,265,094 231,589 127,774 120,906 (5,855) 1,739,508 Segment Adjusted EBITDA (2) $ 276,729 $ 70,614 $ 46,743 $ (120,906) $ — $ 273,180 Depreciation and amortization (299,494) Impairment charges (1,733,235) Other operating expense, net (3,247) Restructuring expenses (72,947) Share-based compensation expense (14,728) Operating loss $ (1,850,471) Intersegment revenues $ 503 $ — $ 5,352 $ — $ — $ 5,855 Capital expenditures $ 34,843 $ 10,714 $ 2,473 $ 10,493 $ — $ 58,523 Share-based compensation expense $ — $ — $ — $ 14,728 $ — $ 14,728 (1) Consolidated operating expenses consist of Direct operating expenses and Selling, general and administrative expenses and exclude Restructuring expenses, share-based compensation expenses and depreciation and amortization.

BASIS OF PRESENTATION - Narrati

BASIS OF PRESENTATION - Narrative (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)segment	Dec. 31, 2020USD ($)
Accounting Policies [Abstract]
Number of reportable segments | segment	3
Increase in allowable interest deduction, COVID-19		$ 179,400
Deferred payment of certain employment taxes, COVID-19		29,300
Refundable payroll tax credit, COVID-19	$ 12,400
Cash and cash equivalents	$ 369,094	$ 720,662

BASIS OF PRESENTATION - Reconci

BASIS OF PRESENTATION - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 369,094	$ 720,662
Restricted cash included in:
Other current assets	426	0
Other assets	0	525
Total cash, cash equivalents and restricted cash in the Statement of Cash Flows	$ 369,520	$ 721,187	$ 725,129	$ 411,618

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 927,747	$ 743,829	$ 2,495,188	$ 2,011,248
Revenue from leases	304	577	1,133	1,440
Revenue, total	928,051	744,406	2,496,321	2,012,688
Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(2,775)	(1,930)	(10,047)	(5,855)
Revenue from leases	0	0	0	0
Revenue, total	(2,775)	(1,930)	(10,047)	(5,855)
Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	658,675	554,520	1,761,593	1,540,383
Revenue from leases	304	577	1,133	1,440
Revenue, total	658,979	555,097	1,762,726	1,541,823
Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	205,769	116,200	561,252	302,203
Revenue from leases	0	0	0	0
Revenue, total	205,769	116,200	561,252	302,203
Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	66,078	75,039	182,390	174,517
Revenue from leases	0	0	0	0
Revenue, total	66,078	75,039	182,390	174,517
Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	483,456	404,460	1,293,134	1,110,155
Broadcast Radio | Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Broadcast Radio | Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	483,456	404,460	1,293,134	1,110,155
Broadcast Radio | Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Broadcast Radio | Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	127,920	118,982	366,592	349,889
Networks | Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Networks | Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	127,920	118,982	366,592	349,889
Networks | Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Networks | Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	42,663	28,898	93,641	73,055
Sponsorship and Events | Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Sponsorship and Events | Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	42,663	28,898	93,641	73,055
Sponsorship and Events | Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Sponsorship and Events | Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	140,098	93,574	400,729	242,479
Digital, excluding Podcast | Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1,475)	0	(4,547)	0
Digital, excluding Podcast | Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Digital, excluding Podcast | Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	141,573	93,574	405,276	242,479
Digital, excluding Podcast | Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	64,196	22,626	155,976	59,724
Podcast | Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Podcast | Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Podcast | Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	64,196	22,626	155,976	59,724
Podcast | Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	64,890	73,277	177,337	169,165
Audio and Media Services | Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1,188)	(1,762)	(5,053)	(5,352)
Audio and Media Services | Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Audio and Media Services | Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Audio and Media Services | Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	66,078	75,039	182,390	174,517
Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,524	2,012	7,779	6,781
Other | Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(112)	(168)	(447)	(503)
Other | Multiplatform Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,636	2,180	8,226	7,284
Other | Digital Audio Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Other | Audio & Media Services Group | Operating segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 0	$ 0	$ 0	$ 0

REVENUE - Schedule of Barter an

REVENUE - Schedule of Barter and Trade Revenue and Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Trade and barter revenues	$ 927,747	$ 743,829	$ 2,495,188	$ 2,011,248
Trade and Barter Transactions
Disaggregation of Revenue [Line Items]
Trade and barter revenues	49,200	41,430	127,654	113,861
Trade and barter expenses	$ 33,955	$ 44,109	$ 101,998	$ 116,182

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Trade and barter revenues	$ 927,747	$ 743,829	$ 2,495,188	$ 2,011,248
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 220,500		$ 220,500
Revenue, remaining performance obligation, period	5 years		5 years
Advertising Trade and Barter Transactions
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Trade and barter revenues	$ 4,900	$ 2,300	$ 9,400	$ 7,500

REVENUE - Schedule of Contract

REVENUE - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Deferred revenue from contracts with customers:
Beginning balance	$ 149,731	$ 178,030	$ 145,493	$ 162,068
Revenue recognized, included in beginning balance	(52,406)	(79,261)	(84,375)	(86,419)
Additions, net of revenue recognized during period, and other	56,799	73,352	93,006	96,472
Ending balance	$ 154,124	$ 172,121	$ 154,124	$ 172,121

REVENUE - Revenue From Leases (

REVENUE - Revenue From Leases (Details) $ in Thousands	Sep. 30, 2021USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2021	$ 277
2022	910
2023	759
2024	579
2025	394
Thereafter	1,828
Total	$ 4,747

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Impairment charges	$ 11,647	$ 0	$ 49,391	$ 1,733,235
Non-cash impairment charge on operating lease			38,000
Impairment of leasehold improvements			11,400
Non-cash operating lease expense			$ 75,800	$ 78,200

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Cash paid for amounts included in measurement of operating lease liabilities	$ 100,815	$ 99,634
Lease liabilities arising from obtaining right-of-use assets	$ 35,317	$ 41,982

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($)	Mar. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Goodwill		$ 2,313,824,000				$ 2,313,824,000	$ 2,313,824,000		$ 2,145,935,000	$ 3,325,622,000
Annual intangible assets impairment test, forecast period							10 years
Impairment of intangible assets, indefinite-lived							$ 0
Impairment of definite-lived intangibles					$ 0
Total amortization expense related to definite-lived intangible assets		$ 64,300,000		$ 64,500,000			$ 218,000,000	$ 193,000,000
Goodwill impairment			$ 0		1,200,000,000	$ 0			$ 1,224,374,000
FCC Licenses
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets, indefinite-lived					$ 502,700,000
Triton Digital
Indefinite-lived Intangible Assets [Line Items]
Consideration transferred for acquisition	$ 228,500,000
Assets acquired	69,400,000		69,400,000
Intangible assets acquired	191,500,000		191,500,000
Goodwill	168,200,000		168,200,000
Tax-deductible goodwill	6,900,000		6,900,000
Liabilities assumed	$ 32,400,000		$ 32,400,000

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Property, Plant And Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,097,664	$ 1,025,636
Less: accumulated depreciation	327,895	213,934
Property, plant and equipment, net	769,769	811,702
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	337,696	386,980
Towers, transmitters and studio equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	174,461	169,788
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	489,027	398,084
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	31,711	45,711
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 64,769	$ 25,073

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Gross Carrying Amount and Accumulated Amortization for Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,339,112	$ 2,353,821
Accumulated Amortization	(609,747)	(429,329)
Customer / advertiser relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,636,357	1,620,509
Accumulated Amortization	(415,720)	(286,066)
Talent and other contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	338,900	375,900
Accumulated Amortization	(106,266)	(84,065)
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	335,861	326,061
Accumulated Amortization	(79,714)	(54,358)
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	27,994	31,351
Accumulated Amortization	$ (8,047)	$ (4,840)

PROPERTY, PLANT AND EQUIPMENT_6

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2021USD ($)
Property, Plant and Equipment [Abstract]
2022	$ 254,720
2023	246,014
2024	244,589
2025	213,396
2026	$ 201,474

PROPERTY, PLANT AND EQUIPMENT_7

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Changes In Carrying Amount Of Goodwill (Details) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Goodwill
Beginning balance	$ 2,145,935,000	$ 3,325,622,000		$ 2,145,935,000	$ 3,325,622,000
Impairment	0	(1,200,000,000)	$ 0		(1,224,374,000)
Acquisitions				169,491,000	44,606,000
Dispositions				(1,446,000)	(164,000)
Foreign currency				(156,000)	245,000
Ending balance			2,313,824,000	2,313,824,000	2,145,935,000
Audio
Goodwill
Beginning balance	2,041,536,000	3,221,468,000		2,041,536,000	3,221,468,000
Impairment					(1,224,374,000)
Acquisitions					44,606,000
Dispositions					(164,000)
Foreign currency					0
Ending balance					2,041,536,000
Audio & Media Services Group
Goodwill
Beginning balance	104,399,000	$ 104,154,000		104,399,000	104,154,000
Impairment					0
Acquisitions				0	0
Dispositions				0	0
Foreign currency				(156,000)	245,000
Ending balance			104,243,000	104,243,000	104,399,000
Multiplatform Group
Goodwill
Beginning balance	1,462,217,000			1,462,217,000
Acquisitions				1,267,000
Dispositions				(1,446,000)
Foreign currency				0
Ending balance			1,462,038,000	1,462,038,000	1,462,217,000
Digital Audio Group
Goodwill
Beginning balance	$ 579,319,000			579,319,000
Acquisitions				168,224,000
Dispositions				0
Foreign currency				0
Ending balance			$ 747,543,000	$ 747,543,000	$ 579,319,000

LONG-TERM DEBT - Schedule Of Lo

LONG-TERM DEBT - Schedule Of Long-Term Debt Outstanding (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 5,737,375,000	$ 6,016,930,000
Original issue discount	(14,156,000)	(18,817,000)
Long-term debt fees	(19,090,000)	(21,797,000)
Less: Current portion	725,000	34,775,000
Total long-term debt	5,736,650,000	5,982,155,000
Secured Debt
Debt Instrument [Line Items]
Long-term debt	4,320,621,000	4,600,762,000
Term Loan Facility due 2026 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	1,864,032,000	2,080,259,000
Incremental Term Loan Facility due 2026 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	401,220,000	447,750,000
Asset-based Revolving Credit Facility due 2023 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	0	0
Asset-based Revolving Credit Facility due 2023 | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings provided under credit facility	450,000,000
Outstanding borrowings under facility	0
Letters of credit outstanding	28,500,000
Line of credit, excess availability	421,500,000
6.375% Senior Secured Notes due 2026 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	$ 800,000,000	800,000,000
Stated interest rate (as a percent)	6.375%
5.25% Senior Secured Notes due 2027 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	$ 750,000,000	750,000,000
Stated interest rate (as a percent)	5.25%
4.75% Senior Secured Notes due 2028 | Secured Debt
Debt Instrument [Line Items]
Long-term debt	$ 500,000,000	500,000,000
Stated interest rate (as a percent)	4.75%
Other secured subsidiary debt | Secured Debt
Debt Instrument [Line Items]
Long-term debt	$ 5,369,000	22,753,000
8.375% Senior Unsecured Notes due 2027 | Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	$ 1,450,000,000	1,450,000,000
Stated interest rate (as a percent)	8.375%
Other unsecured subsidiary debt | Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 6,782,000

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Thousands	Oct. 27, 2021	Jul. 16, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)			5.40%					5.50%
Aggregate market value of debt			$ 5,900,000					$ 6,200,000
Current portion of long-term debt			725					$ 34,775
Subsequent Event
Debt Instrument [Line Items]
Payments for repurchase of preferred stock	$ 64,400
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Repayments of secured debt		$ 250,000
Debt prepayment amount		$ 250,000
Secured Debt | Term Loan Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Debt, basis spread on variable rate		3.25%
Debt floor interest rate		0.50%
Secured Debt | Term Loan Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Debt, basis spread on variable rate		4.00%
Debt floor interest rate		0.75%
Secured Debt | Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Debt, basis spread on variable rate		2.25%
Debt floor interest rate		1.50%
Secured Debt | Term Loan Facility due 2026
Debt Instrument [Line Items]
Repayments of secured debt		$ 205,700
Periodic principal payment			$ 6,400	$ 6,400	$ 6,400	$ 5,250	$ 5,250
Secured Debt | Incremental Term Loan Facility due 2026
Debt Instrument [Line Items]
Repayments of secured debt		$ 44,300

LONG-TERM DEBT - Mandatorily Re

LONG-TERM DEBT - Mandatorily Redeemable Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	May 01, 2019
Debt Instrument [Line Items]
Preferred stock, shares issued (in shares)	0		0		0
Preferred stock, par value (in dollars per share)	$ 0.001		$ 0.001		$ 0.001
Preferred stock issued	$ 0		$ 0		$ 0
Redeemable Preferred Stock
Debt Instrument [Line Items]
Preferred stock, shares issued (in shares)						60,000
Preferred stock, par value (in dollars per share)						$ 0.001
Liquidation preference value	60,000		60,000			$ 60,000
Preferred stock issued						$ 60,000
Interest expense paid on dividends	$ 2,300	$ 2,700	$ 6,900	$ 6,900

LONG-TERM DEBT - Surety Bonds,

LONG-TERM DEBT - Surety Bonds, Letters of Credit and Guarantees (Details) $ in Millions	Sep. 30, 2021USD ($)
Surety bonds
Debt Instrument [Line Items]
Guarantees obligations	$ 8.8
Commercial standby letters of credit
Debt Instrument [Line Items]
Guarantees obligations	28.9
Bank Guarantee
Debt Instrument [Line Items]
Guarantees obligations	$ 0.2

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - shares	Mar. 08, 2021	Feb. 05, 2021
Commitments and Contingencies Disclosure [Abstract]
Beneficial ownership (in shares)		9,631,329
Beneficial ownership (as a percent)		8.70%
Minimum
Loss Contingencies [Line Items]
FCC petitions for declaratory ruling, percentage of voting equity without prior approval	5.00%
Maximum
Loss Contingencies [Line Items]
FCC petitions for declaratory ruling, percentage of voting equity without prior approval	14.99%

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Current tax expense	$ (7,651)	$ (1,698)	$ (12,717)	$ (5,134)
Deferred tax benefit (expense)	34,798	16,926	(64,520)	214,615
Income tax benefit (expense)	$ 27,147	$ 15,228	$ (77,237)	$ 209,481

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rates (as a percent)	115.60%	32.20%	(40.00%)	9.80%
Deferred tax benefit on impairment charge				$ 125.5

STOCKHOLDER'S EQUITY - Narrativ

STOCKHOLDER'S EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	May 01, 2019	Aug. 31, 2020	Sep. 30, 2021		Sep. 30, 2020		Sep. 30, 2021		Sep. 30, 2020		Dec. 31, 2020
Class of Stock [Line Items]
Share-based compensation expense			$ 5,993		$ 5,885		$ 17,581		$ 14,728
Unrecognized compensation cost, weighted average period (in years)							2 years 3 months 18 days
Common stock, shares authorized (in shares)			2,100,000,000				2,100,000,000
Class A Shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			1,000,000,000				1,000,000,000				1,000,000,000
Common stock, par value (in dollars per share)			$ 0.001				$ 0.001				$ 0.001
Class B Shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			1,000,000,000				1,000,000,000				1,000,000,000
Common stock, par value (in dollars per share)			$ 0.001				$ 0.001				$ 0.001
Conversion of Class B Shares to Class A Shares (in shares)			(1,130,851)		(7,263)		(6,718,576)		(13,323)
Preferred Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			100,000,000				100,000,000
Common stock, par value (in dollars per share)			$ 0.001				$ 0.001
Special Warrants
Class of Stock [Line Items]
Special warrants, number of securities called by each warrant (in shares)	1
Special warrants, exercise price per share (in dollars per share)	$ 0.001
Special warrants, conversion terms, ownership percentage of common stock (as a percent)	4.99%
Special warrants, conversion terms, ownership percentage of capital stock or voting interests (as a percent)	22.50%
Vesting based on service conditions
Class of Stock [Line Items]
Unrecognized compensation cost			$ 45,000				$ 45,000
Vesting based on performance conditions
Class of Stock [Line Items]
Unrecognized compensation cost			300				300
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Share-based compensation expense			$ 400		$ 1,100		$ 1,400		$ 1,100
Award vesting period (in months)		18 months
Common Shares | Class A Shares
Class of Stock [Line Items]
Conversion of Class B Shares to Class A Shares (in shares)			(1,130,851)	[1]	(7,263)	[2]	(6,718,576)	[3]	(13,323)	[4]
Conversion of Special Warrants to Class A and Class B Shares (in shares)			60,698	[1]	1,986,278	[2]	47,197,139	[3]	4,990,132	[4]
Common Shares | Class B Shares
Class of Stock [Line Items]
Conversion of Class B Shares to Class A Shares (in shares)			(1,130,851)	[1]	(7,263)	[2]	(6,718,576)	[3]	(13,323)	[4]
Conversion of Special Warrants to Class A and Class B Shares (in shares)			0		704	[2]	22,337,312	[3]	2,049	[4]
Common Shares | Special Warrants
Class of Stock [Line Items]
Conversion of Special Warrants to Class A and Class B Shares (in shares)			60,698	[1]	1,986,982	[2]	69,534,451	[3]	4,992,181	[4]
Corporate Expenses
Class of Stock [Line Items]
Share-based compensation expense			$ 6,000		$ 5,900		$ 17,600		$ 14,700
[1]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2021.
[2]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2020.
[3]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2021 or 2020.
[4]	The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2019 or 2020.

STOCKHOLDER'S EQUITY - Common S

STOCKHOLDER'S EQUITY - Common Stock and Special Warrants (Details) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	2,100,000,000
Common stock, shares issued (in shares)	147,479,922
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	119,669,831	64,726,864
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	22,505,661	6,886,925
Special Warrants
Class of Stock [Line Items]
Common stock, shares issued (in shares)	5,304,430	74,835,899
Common stock, shares outstanding (in shares)	5,304,430	74,835,899

STOCKHOLDER'S EQUITY - Computat

STOCKHOLDER'S EQUITY - Computation of Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
NUMERATOR:
Net income (loss) attributable to the Company – common shares	$ 3,180	$ (32,112)	$ (270,829)	$ (1,918,165)
DENOMINATOR:
Weighted average common shares outstanding - basic (in shares)	147,040	146,152	146,591	145,911
Stock options and restricted stock (in shares)	3,357	0	0	0
Weighted average common shares outstanding - Diluted (in shares)	150,397	146,152	146,591	145,911
Net income (loss) attributable to the Company per common share:
Basic (in dollars per share)	$ 0.02	$ (0.22)	$ (1.85)	$ (13.15)
Diluted (in dollars per share)	$ 0.02	$ (0.22)	$ (1.85)	$ (13.15)
Outstanding equity awards excluded from computation of diluted earnings per share (in shares)	300	9,600	10,600	8,500

SEGMENT DATA (Details)

SEGMENT DATA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 928,051	$ 744,406	$ 2,496,321	$ 2,012,688
Operating expenses	697,838	582,282	1,979,353	1,739,508
Adjusted EBITDA	230,213	162,124	516,968	273,180
Depreciation and amortization	(108,100)	(99,379)	(343,408)	(299,494)
Impairment charges	(11,647)	0	(49,391)	(1,733,235)
Other operating expense, net	(12,341)	(1,675)	(27,491)	(3,247)
Restructuring expenses	(12,021)	(15,790)	(47,216)	(72,947)
Share-based compensation expense	(5,993)	(5,885)	(17,581)	(14,728)
Operating income (loss)	80,111	39,395	31,881	(1,850,471)
Capital expenditures	50,274	18,977	101,335	58,523
Share-based compensation expense	5,993	5,885	17,581	14,728
Operating segments | Multiplatform Group
Segment Reporting Information [Line Items]
Revenue	658,979	555,097	1,762,726	1,541,823
Operating expenses	450,549	416,131	1,268,107	1,265,094
Adjusted EBITDA	208,430	138,966	494,619	276,729
Capital expenditures	35,082	12,056	66,522	34,843
Share-based compensation expense	0	0	0	0
Operating segments | Digital Audio Group
Segment Reporting Information [Line Items]
Revenue	205,769	116,200	561,252	302,203
Operating expenses	138,646	81,042	399,828	231,589
Adjusted EBITDA	67,123	35,158	161,424	70,614
Capital expenditures	6,223	4,029	17,934	10,714
Share-based compensation expense	0	0	0	0
Operating segments | Audio & Media Services Group
Segment Reporting Information [Line Items]
Revenue	66,078	75,039	182,390	174,517
Operating expenses	43,656	46,247	124,148	127,774
Adjusted EBITDA	22,422	28,792	58,242	46,743
Capital expenditures	3,967	850	6,158	2,473
Share-based compensation expense	0	0	0	0
Corporate and other reconciling items
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating expenses	67,762	40,792	197,317	120,906
Adjusted EBITDA	(67,762)	(40,792)	(197,317)	(120,906)
Capital expenditures	5,002	2,042	10,721	10,493
Share-based compensation expense	5,993	5,885	17,581	14,728
Eliminations
Segment Reporting Information [Line Items]
Revenue	(2,775)	(1,930)	(10,047)	(5,855)
Operating expenses	(2,775)	(1,930)	(10,047)	(5,855)
Adjusted EBITDA	0	0	0	0
Capital expenditures	0	0	0	0
Share-based compensation expense	0	0	0	0
Intersegment revenues
Segment Reporting Information [Line Items]
Revenue	2,775	1,930	10,047	5,855
Intersegment revenues | Multiplatform Group
Segment Reporting Information [Line Items]
Revenue	112	168	447	503
Intersegment revenues | Digital Audio Group
Segment Reporting Information [Line Items]
Revenue	1,475	0	4,547	0
Intersegment revenues | Audio & Media Services Group
Segment Reporting Information [Line Items]
Revenue	$ 1,188	$ 1,762	$ 5,053	$ 5,352