iHeartMedia (IHRT) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	Large 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	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		121,761,907
Class B Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		21,477,181

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 295,399	$ 352,129
Accounts receivable, net of allowance of $27,405 in 2022 and $29,270 in 2021	981,144	1,030,380
Prepaid expenses	113,718	65,927
Other current assets	18,316	24,431
Total Current Assets	1,408,577	1,472,867
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net	692,321	782,093
INTANGIBLE ASSETS AND GOODWILL
Indefinite-lived intangibles - licenses and other	1,476,319	1,778,045
Other intangibles, net	1,477,342	1,666,600
Goodwill	2,313,182	2,313,581
OTHER ASSETS
Operating lease right-of-use assets	791,804	741,410
Other assets	170,154	126,713
Total Assets	8,329,699	8,881,309
CURRENT LIABILITIES
Accounts payable	204,916	206,007
Current operating lease liabilities	48,088	88,585
Accrued expenses	271,852	353,045
Accrued interest	63,458	67,983
Deferred revenue	151,065	133,123
Current portion of long-term debt	665	673
Total Current Liabilities	740,044	849,416
Long-term debt	5,553,049	5,738,195
Noncurrent operating lease liabilities	850,412	738,814
Deferred income taxes	526,928	558,222
Other long-term liabilities	66,456	80,897
Commitments and contingent liabilities (Note 6)
STOCKHOLDERS’ EQUITY
Noncontrolling interest	9,059	8,410
Preferred stock, par value $.001 per share, 100,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	2,901,625	2,876,571
Accumulated deficit	(2,307,363)	(1,962,819)
Accumulated other comprehensive loss	(1,760)	(257)
Cost of shares (593,032 in 2022 and 389,814 in 2021) held in treasury	(8,895)	(6,282)
Total Stockholders' Equity	592,810	915,765
Total Liabilities and Stockholders' Equity	8,329,699	8,881,309
Class A Common Stock
STOCKHOLDERS’ EQUITY
Common stock	123	120
Class B Common Stock
STOCKHOLDERS’ EQUITY
Common stock	21	22
Special Warrants
STOCKHOLDERS’ EQUITY
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Allowance for receivables	$ 27,405	$ 29,270
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)	148,931,754
Shares held in treasury (in shares)	593,032	389,814
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)	122,341,086	120,633,937
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)	21,479,356	21,590,192
Special Warrants
Class of Stock [Line Items]
Common stock, shares issued (in shares)	5,111,312	5,304,430
Common stock, shares outstanding (in shares)	5,111,312	5,304,430

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 988,930	$ 928,051	$ 2,786,393	$ 2,496,321
Operating expenses:
Direct operating expenses (excludes depreciation and amortization)	371,719	325,766	1,067,625	939,094
Selling, general and administrative expenses (excludes depreciation and amortization)	399,892	390,086	1,163,293	1,105,056
Depreciation and amortization	109,305	108,100	334,144	343,408
Impairment charges	309,750	11,647	311,329	49,391
Other operating expense, net	9,451	12,341	25,985	27,491
Operating income (loss)	(211,187)	80,111	(115,983)	31,881
Interest expense, net	87,890	82,481	248,603	252,489
Gain (loss) on investments, net	(3,466)	(10,367)	4,359	39,468
Equity in loss of nonconsolidated affiliates	(132)	(1,056)	(190)	(1,115)
Gain (loss) on extinguishment of debt	6,892	(7,896)	15,095	(7,896)
Other expense, net	(581)	(1,785)	(3,026)	(2,955)
Loss before income taxes	(296,364)	(23,474)	(348,348)	(193,106)
Income tax benefit (expense)	(13,412)	27,147	5,015	(77,237)
Net income (loss)	(309,776)	3,673	(343,333)	(270,343)
Less amount attributable to noncontrolling interest	587	493	1,211	486
Net income (loss) attributable to the Company	(310,363)	3,180	(344,544)	(270,829)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(606)	(131)	(1,503)	(387)
Other comprehensive loss, net of tax	(606)	(131)	(1,503)	(387)
Comprehensive income (loss)	(310,969)	3,049	(346,047)	(271,216)
Less amount attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to the Company	$ (310,969)	$ 3,049	$ (346,047)	$ (271,216)
Net income (loss) attributable to the Company per common share:
Basic (in dollars per share)	$ (2.09)	$ 0.02	$ (2.33)	$ (1.85)
Weighted average common shares outstanding - Basic (in shares)	148,299	147,040	147,957	146,591
Diluted (in dollars per share)	$ (2.09)	$ 0.02	$ (2.33)	$ (1.85)
Weighted average common shares outstanding - Diluted (in shares)	148,299	150,397	147,957	146,591

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands		Total	Class A Shares		Class B Shares	Special Warrants	Common Stock	Common Stock Class A Shares		Common Stock Class B Shares		Common Stock Special Warrants		Non- controlling Interest	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2020	[1]							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 (loss)		(270,343)												486		(270,829)
Vesting of restricted stock and other (in shares)	[1]							1,027,252
Vesting of restricted stock and other		915					0								3,863			(2,948)
Share-based compensation		17,581													17,581
Conversion of Special Warrants to Class A and Class B Shares (in shares)			47,197,139	[1]	22,337,312					22,337,312	[1]	69,534,451	[1]
Conversion of Special Warrants to Class A and Class B Shares							70								(70)
Conversion of Class B Shares to Class A Shares (in shares)					6,718,576			6,718,576	[1]	6,718,576	[1]
Other (in shares)	[1]											2,982
Other		(562)												(562)
Other comprehensive loss		(387)															(387)
Ending balance (in shares) at Sep. 30, 2021	[1],[2]							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	[2]							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 (loss)		3,673												493		3,180
Vesting of restricted stock and other (in shares)	[2]							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					60,698	[2]			60,698	[2]
Conversion of Special Warrants to Class A and Class B Shares							1								(1)
Conversion of Class B Shares to Class A Shares (in shares)					1,130,851			1,130,851	[2]	1,130,851	[2]
Other		(187)												(187)
Other comprehensive loss		(131)															(131)
Ending balance (in shares) at Sep. 30, 2021	[1],[2]							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 Dec. 31, 2021						5,304,430		120,633,937	[3]	21,590,192	[3]	5,304,430	[3]
Beginning balance at Dec. 31, 2021		915,765					142							8,410	2,876,571	(1,962,819)	(257)	(6,282)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		(343,333)												1,211		(344,544)
Vesting of restricted stock and other (in shares)	[3]							1,403,195
Vesting of restricted stock and other		(2,139)					2								472			(2,613)
Share-based compensation		24,582													24,582
Conversion of Special Warrants to Class A and Class B Shares (in shares)	[3]		96,516							96,602		193,118
Conversion of Class B Shares to Class A Shares (in shares)					207,438			207,438	[3]	207,438	[3]
Other		(562)												(562)
Other comprehensive loss		(1,503)															(1,503)
Ending balance (in shares) at Sep. 30, 2022						5,111,312		122,341,086	[3],[4]	21,479,356	[3],[4]	5,111,312	[3],[4]
Ending balance at Sep. 30, 2022		592,810					144							9,059	2,901,625	(2,307,363)	(1,760)	(8,895)
Beginning balance (in shares) at Jun. 30, 2022	[4]							122,068,221		21,391,972		5,293,055
Beginning balance at Jun. 30, 2022		893,421					143							8,659	2,891,129	(1,997,000)	(1,154)	(8,356)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		(309,776)												587		(310,363)
Vesting of restricted stock and other (in shares)	[4]							178,506
Vesting of restricted stock and other		(479)					1								59			(539)
Share-based compensation		10,437													10,437
Conversion of Special Warrants to Class A and Class B Shares (in shares)	[4]		85,141							96,602		181,743
Conversion of Class B Shares to Class A Shares (in shares)					9,218			9,218	[4]	9,218	[4]
Other		(187)												(187)
Other comprehensive loss		(606)															(606)
Ending balance (in shares) at Sep. 30, 2022						5,111,312		122,341,086	[3],[4]	21,479,356	[3],[4]	5,111,312	[3],[4]
Ending balance at Sep. 30, 2022		$ 592,810					$ 144							$ 9,059	$ 2,901,625	$ (2,307,363)	$ (1,760)	$ (8,895)
[1]The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2021 or 2020.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (343,333)	$ (270,343)
Reconciling items:
Impairment charges	311,329	49,391
Depreciation and amortization	334,144	343,408
Deferred taxes	(31,304)	64,520
Provision for doubtful accounts	10,137	2,919
Amortization of deferred financing charges and note discounts, net	4,589	4,508
Share-based compensation	24,582	17,581
Loss on disposal of operating and other assets	24,547	22,771
Gain on investments	(4,359)	(39,468)
Equity in loss of nonconsolidated affiliates	190	1,115
(Gain) loss on extinguishment of debt	(15,095)	7,896
Barter and trade income	(27,174)	(9,418)
Other reconciling items, net	1,504	764
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
(Increase) decrease in accounts receivable	38,685	(37,776)
Increase in prepaid expenses and other current assets	(47,561)	(33,486)
Increase in other long-term assets	(5,817)	(7,392)
Increase (decrease) in accounts payable	(927)	25,673
Increase (decrease) in accrued expenses	(84,308)	48,861
Increase (decrease) in accrued interest	(4,524)	1,766
Increase in deferred income	18,392	2,500
Increase in other long-term liabilities	3,002	803
Cash provided by operating activities	206,699	196,593
Cash flows from investing activities:
Business combinations	0	(245,462)
Proceeds from sale of other investments	32	50,757
Purchases of property, plant and equipment	(112,567)	(101,335)
Proceeds from disposal of assets	34,690	36,330
Change in other, net	(4,962)	(188)
Cash used for investing activities	(82,807)	(259,898)
Cash flows from financing activities:
Payments on long-term debt and credit facilities	(173,990)	(288,484)
Change in other, net	(5,667)	366
Cash used for financing activities	(179,657)	(288,118)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(965)	(244)
Net decrease in cash, cash equivalents and restricted cash	(56,730)	(351,667)
Cash, cash equivalents and restricted cash at beginning of period	352,554	721,187
Cash, cash equivalents and restricted cash at end of period	295,824	369,520
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	249,910	247,513
Cash paid for income taxes	$ 12,054	$ 7,900

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2022
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, 2021. The Company's reportable segments are: ▪ the Multiplatform Group, which includes the Company's Broadcast radio, Networks and Sponsorships and Events businesses; ▪ the 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. 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. Economic Conditions The Company's advertising revenue is highly correlated to changes in gross domestic product (“GDP”) as advertising spending has historically trended in line with GDP. GDP decreased in the first and second quarters of 2022 and increased in the third quarter of 2022 while there was an increase in GDP in each quarter in 2021. The rise in interest rates and historically high inflation have also contributed to a more challenging macroeconomic environment. This challenging environment has led to market uncertainty which impacted 2022 Multiplatform Group revenues, particularly during the third quarter. 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 Company was able to defer the payment of $29.3 million in certain employment taxes during 2020, half of which was due and paid on January 3, 2022 and the other half will be due on January 3, 2023. In addition, the Company claimed $12.4 million in refundable payroll tax credits related to the CARES Act provisions, of which $0.7 million was received in 2020, $3.8 million was received in 2021 and $7.9 million was received in January 2022. As of September 30, 2022, the Company had approximately $295.4 million in cash and cash equivalents. Based on current available liquidity, the Company expects to be able to meet its obligations as they become due over the coming year. Reclassifications Certain prior period amounts have been reclassified to conform to the 2022 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 $ 295,399 $ 352,129 Restricted cash included in: Other current assets 425 425 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 295,824 $ 352,554 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 does not expect the adoption of this standard to materially impact the financial position, results of operations or cash flows. New Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities in accordance with Accounting Standards Codification 606. The amendments of ASU 2021-08 are effective for interim and annual periods beginning after December 15, 2022. The Company is currently evaluating the future impact of adoption of this standard.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2022
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, 2022 and 2021: (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Three Months Ended September 30, 2022 Revenue from contracts with customers: Broadcast Radio (1) $ 485,571 $ — $ — $ — $ 485,571 Networks (2) 127,239 — — — 127,239 Sponsorship and Events (3) 42,562 — — — 42,562 Digital, excluding Podcast (4) — 162,700 — (1,314) 161,386 Podcast (5) — 91,253 — — 91,253 Audio & Media Services (6) — — 77,794 (1,287) 76,507 Other (7) 4,106 — — (112) 3,994 Total 659,478 253,953 77,794 (2,713) 988,512 Revenue from leases (8) 418 — — — 418 Revenue, total $ 659,896 $ 253,953 $ 77,794 $ (2,713) $ 988,930 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 (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Nine Months Ended September 30, 2022 Revenue from contracts with customers: Broadcast Radio (1) $ 1,365,356 $ — $ — $ — $ 1,365,356 Networks (2) 372,329 — — — 372,329 Sponsorship and Events (3) 114,226 — — — 114,226 Digital, excluding Podcast (4) — 475,254 — (3,959) 471,295 Podcast (5) — 245,479 — — 245,479 Audio & Media Services (6) — — 209,716 (4,006) 205,710 Other (7) 11,372 — — (447) 10,925 Total 1,863,283 720,733 209,716 (8,412) 2,785,320 Revenue from leases (8) 1,073 — — — 1,073 Revenue, total $ 1,864,356 $ 720,733 $ 209,716 $ (8,412) $ 2,786,393 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 (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 software and media streaming, along with research services for radio stations, broadcast television stations, cable channels, record labels, ad agencies 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) 2022 2021 2022 2021 Trade and barter revenues $ 72,160 $ 49,200 $ 157,751 $ 127,654 Trade and barter expenses 38,001 33,955 113,752 101,998 Trade and barter revenue includes $14.9 million and $4.9 million during the three months ended September 30, 2022 and 2021, respectively, and $27.2 million and $9.4 million during the nine months ended September 30, 2022 and 2021, 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) 2022 2021 2022 2021 Deferred revenue from contracts with customers: Beginning balance (1) $ 189,679 $ 149,731 $ 161,114 $ 145,493 Revenue recognized, included in beginning balance (76,172) (52,406) (111,443) (84,375) Additions, net of revenue recognized during period, and other 64,879 56,799 128,715 93,006 Ending balance $ 178,386 $ 154,124 $ 178,386 $ 154,124 (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, 2022, the Company expects to recognize $387.2 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, 2022, the future lease payments to be received by the Company are as follows: (In thousands) 2022 $ 277 2023 837 2024 590 2025 405 2026 321 Thereafter 1,526 Total $ 3,956

LEASES

LEASES	9 Months Ended
	Sep. 30, 2022
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, 2022, the Company recognized non-cash impairment charges of $8.5 million related to ROU assets and $0.7 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. 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 also as a result of the proactive decisions by management discussed above. 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) 2022 2021 Cash paid for amounts included in measurement of operating lease liabilities $ 109,158 $ 100,815 Lease liabilities arising from obtaining right-of-use assets (1) 153,866 35,317 (1) Lease liabilities from obtaining right-of-use assets include new leases entered into during the nine months ended September 30, 2022 and 2021, 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 $65.6 million and $75.8 million for the nine months ended September 30, 2022 and September 30, 2021, respectively.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL	PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL Property, Plant and Equipment The Company’s property, plant and equipment consisted of the following classes of assets as of September 30, 2022 and December 31, 2021, respectively: (In thousands) September 30, December 31, Land, buildings and improvements $ 310,507 $ 355,474 Towers, transmitters and studio equipment 201,334 180,571 Computer equipment and software 564,190 521,872 Furniture and other equipment 39,472 35,390 Construction in progress 80,454 64,732 1,195,957 1,158,039 Less: accumulated depreciation 503,636 375,946 Property, plant and equipment, net $ 692,321 $ 782,093 Indefinite-lived Intangible Assets The Company’s indefinite-lived intangible assets primarily consist of Federal Communications Commission ("FCC") broadcast licenses in its Multiplatform Group segment. The Company performs its annual impairment test on our goodwill and indefinite-lived Federal Communication Commission ("FCC") licenses as of July 1 of each year. The current macroeconomic conditions have led to uncertainty, resulting in slowing broadcast revenue growth and declines in margins as inflation and interest rates continue to rise. These factors have negatively impacted the key assumptions used in the discounted cash flow models that are utilized to value the Company's FCC licenses and goodwill, particularly the discount rates used in estimating fair values. This has resulted in a significant decrease in the fair values of certain of the Company's FCC licenses and reporting units. The Company's FCC licenses are valued using a direct valuation approach, with the key assumptions being market revenue growth rates, profit margin, and the risk-adjusted discount rate as well as other assumptions including market share, duration and profile of the build-up period, and estimated start-up capital costs. This data is populated using industry normalized information representing an average asset within a market. The Company obtained recent broadcast radio industry revenue projections which it considered along with various other sources of data in developing the assumptions used for purposes of performing impairment testing on its FCC licenses as of July 1, 2022. Considerations in developing these assumptions included the extent of the economic downturn, ranges of expected timing of recovery, discount rates and other factors. Based on the Company's testing, the estimated fair value of the FCC licenses was below their carrying values. As a result, the Company recognized a non-cash impairment charge of $302.1 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 following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets as of September 30, 2022 and December 31, 2021, respectively: (In thousands) September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,646,402 $ (589,168) $ 1,646,402 $ (459,620) Talent and other contracts 338,900 (149,728) 338,900 (117,337) Trademarks and tradenames 335,862 (113,866) 335,862 (88,252) Other 18,443 (9,503) 17,794 (7,149) Total $ 2,339,607 $ (862,265) $ 2,338,958 $ (672,358) Total amortization expense related to definite-lived intangible assets for the Company for the three months ended September 30, 2022 and 2021 was $63.4 million and $64.3 million, respectively. Total amortization expense related to definite-lived intangible assets for the Company for the nine months ended September 30, 2022 and 2021 was $189.9 million and $218.0 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) 2023 $ 244,387 2024 243,194 2025 212,001 2026 200,251 2027 176,171 Goodwill The following table presents the changes in the carrying amount of goodwill: (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 1,267 168,031 — 169,298 Dispositions (1,446) — — (1,446) Foreign currency — — (206) (206) Balance as of December 31, 2021 $ 1,462,038 $ 747,350 $ 104,193 $ 2,313,581 Dispositions (16) — — (16) Foreign currency — — (383) (383) Balance as of September 30, 2022 $ 1,462,022 $ 747,350 $ 103,810 $ 2,313,182 Goodwill Impairment Testing The fair values of the Company's reporting units were reevaluated as of July 1, 2022 as part of the Company's annual impairment assessment and no goodwill impairment was recorded as the estimated fair values of the reporting units exceeded the carrying values of the reporting units’ net assets, including goodwill.
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL	PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL Property, Plant and Equipment The Company’s property, plant and equipment consisted of the following classes of assets as of September 30, 2022 and December 31, 2021, respectively: (In thousands) September 30, December 31, Land, buildings and improvements $ 310,507 $ 355,474 Towers, transmitters and studio equipment 201,334 180,571 Computer equipment and software 564,190 521,872 Furniture and other equipment 39,472 35,390 Construction in progress 80,454 64,732 1,195,957 1,158,039 Less: accumulated depreciation 503,636 375,946 Property, plant and equipment, net $ 692,321 $ 782,093 Indefinite-lived Intangible Assets The Company’s indefinite-lived intangible assets primarily consist of Federal Communications Commission ("FCC") broadcast licenses in its Multiplatform Group segment. The Company performs its annual impairment test on our goodwill and indefinite-lived Federal Communication Commission ("FCC") licenses as of July 1 of each year. The current macroeconomic conditions have led to uncertainty, resulting in slowing broadcast revenue growth and declines in margins as inflation and interest rates continue to rise. These factors have negatively impacted the key assumptions used in the discounted cash flow models that are utilized to value the Company's FCC licenses and goodwill, particularly the discount rates used in estimating fair values. This has resulted in a significant decrease in the fair values of certain of the Company's FCC licenses and reporting units. The Company's FCC licenses are valued using a direct valuation approach, with the key assumptions being market revenue growth rates, profit margin, and the risk-adjusted discount rate as well as other assumptions including market share, duration and profile of the build-up period, and estimated start-up capital costs. This data is populated using industry normalized information representing an average asset within a market. The Company obtained recent broadcast radio industry revenue projections which it considered along with various other sources of data in developing the assumptions used for purposes of performing impairment testing on its FCC licenses as of July 1, 2022. Considerations in developing these assumptions included the extent of the economic downturn, ranges of expected timing of recovery, discount rates and other factors. Based on the Company's testing, the estimated fair value of the FCC licenses was below their carrying values. As a result, the Company recognized a non-cash impairment charge of $302.1 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 following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets as of September 30, 2022 and December 31, 2021, respectively: (In thousands) September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,646,402 $ (589,168) $ 1,646,402 $ (459,620) Talent and other contracts 338,900 (149,728) 338,900 (117,337) Trademarks and tradenames 335,862 (113,866) 335,862 (88,252) Other 18,443 (9,503) 17,794 (7,149) Total $ 2,339,607 $ (862,265) $ 2,338,958 $ (672,358) Total amortization expense related to definite-lived intangible assets for the Company for the three months ended September 30, 2022 and 2021 was $63.4 million and $64.3 million, respectively. Total amortization expense related to definite-lived intangible assets for the Company for the nine months ended September 30, 2022 and 2021 was $189.9 million and $218.0 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) 2023 $ 244,387 2024 243,194 2025 212,001 2026 200,251 2027 176,171 Goodwill The following table presents the changes in the carrying amount of goodwill: (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 1,267 168,031 — 169,298 Dispositions (1,446) — — (1,446) Foreign currency — — (206) (206) Balance as of December 31, 2021 $ 1,462,038 $ 747,350 $ 104,193 $ 2,313,581 Dispositions (16) — — (16) Foreign currency — — (383) (383) Balance as of September 30, 2022 $ 1,462,022 $ 747,350 $ 103,810 $ 2,313,182 Goodwill Impairment Testing The fair values of the Company's reporting units were reevaluated as of July 1, 2022 as part of the Company's annual impairment assessment and no goodwill impairment was recorded as the estimated fair values of the reporting units exceeded the carrying values of the reporting units’ net assets, including goodwill.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt outstanding for the Company as of September 30, 2022 and December 31, 2021 consisted of the following: (In thousands) September 30, 2022 December 31, 2021 Term Loan Facility due 2026 $ 1,864,032 $ 1,864,032 Incremental Term Loan Facility due 2026 401,220 401,220 Asset-based Revolving Credit Facility due 2023 (1) — — Asset-based Revolving Credit Facility due 2027 (1)(2) — — 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 (3) 4,414 5,350 Total consolidated secured debt 4,319,666 4,320,602 8.375% Senior Unsecured Notes due 2027 (4) 1,261,451 1,450,000 Other unsecured subsidiary debt 53 90 Original issue discount (11,302) (13,454) Long-term debt fees (16,154) (18,370) Total debt 5,553,714 5,738,868 Less: Current portion 665 673 Total long-term debt $ 5,553,049 $ 5,738,195 (1) On May 17, 2022, we entered into a $450.0 million New ABL Facility, maturing in 2027, which refinanced and replaced in its entirety the Existing ABL Facility. Refer to the 'Asset-based Revolving Credit Facility due 2027' section below for more information. (2) As of September 30, 2022, the New ABL Facility had a facility size of $450.0 million, no outstanding borrowings and $27.0 million of outstanding letters of credit, resulting in $423.0 million of borrowing base availability. (3) Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2023 through 2045. (4) During the three months ended September 30, 2022, we repurchased $75.0 million aggregate principal amount of iHeartCommunications Inc.'s 8.375% Senior Unsecured Notes due 2027 for $68.1 million in cash, excluding accrued interest, via open market transactions. The repurchased notes were subsequently cancelled and retired, resulting in a gain on extinguishment of debt of $6.9 million. During the nine months ended September 30, 2022, we repurchased $188.5 million aggregate principal amount of iHeartCommunications Inc.'s 8.375% Senior Unsecured Notes due 2027 for $173.4 million in cash, excluding accrued interest, via open market transactions. The repurchased notes were subsequently cancelled and retired, resulting in a gain on extinguishment of debt of $15.1 million. The Company’s weighted average interest rate was 6.4% and 5.4% as of September 30, 2022 and December 31, 2021, respectively. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $5.0 billion and $5.9 billion as of September 30, 2022 and December 31, 2021, 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. Asset-based Revolving Credit Facility due 2027 On May 17, 2022, iHeartCommunications, Inc., as borrower, entered into a Credit Agreement (the “New ABL Credit Agreement”) with iHeartMedia Capital I, LLC, the direct parent of iHeartCommunications, Inc., as parent guarantor, certain subsidiaries of iHeartCommunications, Inc. party thereto, Bank of America, N.A., as administrative and collateral agent, and each other lender party thereto from time to time, governing a new $450.0 million New ABL Facility, maturing in 2027, which refinanced and replaced in its entirety the Existing ABL Facility. The New ABL Facility includes a letter of credit sub-facility and a swingline loan sub-facility. Size and Availability The New ABL Facility provides for a senior secured asset-based revolving credit facility in the aggregate principal amount of up to $450.0 million, with amounts available from time to time (including in respect of letters of credit) equal to the lesser of (A) the borrowing base, which equals the sum of (i) 90.0% of the eligible accounts receivable of iHeartCommunications and the subsidiary guarantors and (ii) 100% of qualified cash, each subject to customary reserves and eligibility criteria, and (B) the aggregate revolving credit commitments. Subject to certain conditions, iHeartCommunications may at any time request one or more increases in the amount of revolving credit commitments, in an amount up to the sum of (x) $150.0 million and (y) the amount by which the borrowing base exceeds the aggregate revolving credit commitments. As of September 30, 2022, the New ABL Facility had a facility size of $450.0 million, no outstanding borrowings and $27.0 million of outstanding letters of credit, resulting in $423.0 million of borrowing base availability. Interest Rate and Fees Borrowings under the New ABL Facility bear interest at a rate per annum equal to the applicable rate plus, at iHeartCommunications’ option, either (1) a base rate, (2) a term secured overnight financing rate ("SOFR") (which includes a credit spread adjustment of 10 basis points) or (3) for certain foreign currencies, a eurocurrency rate. The applicable margin for borrowings under the New ABL Facility range from 1.25% to 1.75% for both eurocurrency and term SOFR borrowings and from 0.25% to 0.75% for base-rate borrowings, in each case, depending on average excess availability under the New ABL Facility based on the most recently ended fiscal quarter. In addition to paying interest on outstanding principal under the New ABL Facility, iHeartCommunications is required to pay a commitment fee to the lenders under the New ABL Facility in respect of the unutilized commitments thereunder. The commitment fee rate ranges from 0.25% to 0.375% per annum dependent upon average unused commitments during the prior quarter. iHeartCommunications may also pay customary letter of credit fees. Maturity Borrowings under the New ABL Facility will mature, and commitments thereunder will terminate, on May 17, 2027. Prepayments If at any time, the sum of the outstanding amounts under the New ABL Facility exceeds the lesser of (i) the borrowing base and (ii) the aggregate commitments under the facility (such lesser amount, the “line cap”), iHeartCommunications is required to repay outstanding loans and cash collateralize letters of credit in an aggregate amount equal to such excess. iHeartCommunications may voluntarily repay outstanding loans under the New ABL Facility at any time without premium or penalty, other than customary “breakage” costs with respect to eurocurrency rate loans. Any voluntary prepayments made by iHeartCommunications will not reduce iHeartCommunications’ commitments under the New ABL Facility. Guarantees and Security The New ABL Facility is guaranteed by the guarantors of iHeartCommunications’ existing Term Loan Facility. All obligations under the New ABL Facility, and the guarantees of those obligations, are secured by a perfected security interest in the accounts receivable and related assets of iHeartCommunications’ and all of the guarantors’ accounts receivable, qualified cash and related assets and proceeds thereof that is senior to the security interest of iHeartCommunications’ existing Term Loan Facility in such accounts receivable, qualified cash and related assets and proceeds thereof, subject to permitted liens and certain exceptions. Certain Covenants and Events of Default If borrowing availability is less than the greater of (a) $40.0 million and (b) 10% of the aggregate commitments under the New ABL Facility, in each case, for two consecutive business days (a “Trigger Event”), iHeartCommunications will be required to comply with a minimum fixed charge coverage ratio of at least 1.00 to 1.00 for fiscal quarters ending on or after the occurrence of the Trigger Event, and must continue to comply with this minimum fixed charge coverage ratio until borrowing availability exceeds the greater of (x) $40.0 million and (y) 10% of the aggregate commitments under the New ABL Facility, in each case, for 20 consecutive calendar days, at which time the Trigger Event shall no longer be deemed to be occurring. As of September 30, 2022, no Trigger Event had occurred, and iHeartCommunications was not required to comply with this minimum fixed charge coverage ratio. Surety Bonds, Letters of Credit and Guarantees As of September 30, 2022, the Company and its subsidiaries had outstanding surety bonds, commercial standby letters of credit and bank guarantees of $8.8 million, $27.4 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, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The 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 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. On November 5, 2020, the FCC issued a declaratory ruling, which permits the Company to be up to 100% foreign owned, subject to certain conditions, as described further in Note 8, Stockholders' Equity (the "2020 Declaratory Ruling").

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax benefit (expense) for the three and nine months ended September 30, 2022 and the three and nine months ended September 30, 2021 consisted of the following components: (In thousands) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Current tax benefit (expense) $ 15,871 $ (7,651) $ (26,289) $ (12,717) Deferred tax benefit (expense) (29,283) 34,798 31,304 (64,520) Income tax benefit (expense) $ (13,412) $ 27,147 $ 5,015 $ (77,237) The effective tax rates for the three and nine months ended September 30, 2022 were (4.5)% and 1.4%, 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, 2021 were 115.6% and (40.0)%, respectively.

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDER'S EQUITY	STOCKHOLDERS' 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 equity awards covering 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 $10.4 million and $6.0 million for the Company for the three months ended September 30, 2022 and September 30, 2021, respectively. Share-based compensation expenses were $24.6 million and $17.6 million for the Company for the nine months ended September 30, 2022 and September 30, 2021, 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 were 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. On March 28, 2022, the Company issued performance-based restricted stock units ("Q1 2022 Performance RSUs") to certain key employees. Such Q1 2022 Performance RSUs vest upon the achievement of total stockholder return goals and continued service, which are being measured over an approximately 50-month period from the date of issuance. In the three and nine months ended September 30, 2022, the Company recognized $0.8 million and $1.5 million in relation to these Q1 2022 Performance RSUs. On May 9, 2022, the Company issued performance-based restricted stock units ("Q2 2022 Performance RSUs") and restricted stock units ("2022 RSUs") to certain key employees. Such Q2 2022 Performance RSUs vest upon the achievement of certain total stockholder return goals, Adjusted EBITDA goals, Diversity, Equity and Inclusion goals, and continued service. Such 2022 RSUs vest upon continued service. These awards are being recognized ratably over a 3-year period from the date of issuance. In the three and nine months ended September 30, 2022, the Company recognized $1.3 million and $2.0 million in relation to these Q2 2022 Performance RSUs. As of September 30, 2022, there was $54.3 million of unrecognized compensation cost related to unvested share-based compensation arrangements with vesting based solely on service conditions. This cost is expected to be recognized over a weighted average period of approximately 3.4 years. In addition, as of September 30, 2022, there were unrecognized compensation costs of $11.0 million for the Q1 2022 Performance RSUs and $13.4 million for the Q2 2022 Performance RSUs related to unvested share-based compensation arrangements that will vest based on certain performance and service conditions. These costs will be recognized over a 50-month period from the date of issuance for the Q1 2022 Performance RSUs and over the 3-year period from the date of issuance for the Q2 2022 Performance RSUs. 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 as of September 30, 2022: September 30, Class A Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 122,341,086 Class B Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 21,479,356 Special Warrants 5,111,312 Total Class A Common Stock, Class B Common Stock and Special Warrants issued 148,931,754 During the three and nine months ended September 30, 2022, stockholders converted 9,218 and 207,438 shares of the Class B common stock into Class A common stock. 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. Special Warrants Each Special Warrant issued under the special warrant agreement entered into in connection with the Company's emergence from bankruptcy in 2019 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, November 5, 2020, the FCC issued the 2020 Declaratory Ruling, which permits the Company to be up to 100% foreign owned. During the three and nine months ended September 30, 2022, stockholders exercised 85,141 and 96,516 Special Warrants for an equivalent number of shares of Class A common stock. There were 96,602 Special Warrants exercised for shares of Class B common stock during the three and nine months ended September 30, 2022. 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. 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. Computation of Income (Loss) per Share (In thousands, except per share data) Three Months Ended Nine Months Ended 2022 2021 2022 2021 NUMERATOR: Net income (loss) attributable to the Company – common shares $ (310,363) $ 3,180 $ (344,544) $ (270,829) DENOMINATOR (1) : Weighted average common shares outstanding - basic 148,299 147,040 147,957 146,591 Stock options and restricted stock (2) : — 3,357 — — Weighted average common shares outstanding - diluted 148,299 150,397 147,957 146,591 Net income (loss) attributable to the Company per common share: Basic $ (2.09) $ 0.02 $ (2.33) $ (1.85) Diluted $ (2.09) $ 0.02 $ (2.33) $ (1.85) (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, 2022 and 2021. (2) Outstanding equity awards representing 11.7 million and 0.3 million shares of Class A common stock of the Company for the three months ended September 30, 2022 and 2021, respectively, and 10.8 million and 10.6 million for the nine

SEGMENT DATA

SEGMENT DATA	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATAThe 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, Audio & Media Services Group, and Corporate 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, 2022 and 2021: Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended September 30, 2022 Revenue $ 659,896 $ 253,953 $ 77,794 $ — $ (2,713) $ 988,930 Operating expenses (1) 452,631 175,636 48,044 63,090 (2,713) 736,688 Segment Adjusted EBITDA (2) $ 207,265 $ 78,317 $ 29,750 $ (63,090) $ — $ 252,242 Depreciation and amortization (109,305) Impairment charges (309,750) Other operating expense, net (9,451) Restructuring expenses (24,486) Share-based compensation expense (10,437) Operating income $ (211,187) Intersegment revenues $ 112 $ 1,314 $ 1,287 $ — $ — $ 2,713 Capital expenditures 31,613 4,808 1,276 2,660 — 40,357 Share-based compensation expense — — — 10,437 — 10,437 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 Nine Months Ended September 30, 2022 Revenue $ 1,864,356 $ 720,733 $ 209,716 $ — $ (8,412) $ 2,786,393 Operating expenses (1) 1,328,688 511,025 141,509 178,938 (8,412) 2,151,748 Segment Adjusted EBITDA (2) $ 535,668 $ 209,708 $ 68,207 $ (178,938) $ — $ 634,645 Depreciation and amortization (334,144) Impairment charges (311,329) Other operating expense, net (25,985) Restructuring expenses (54,588) Share-based compensation expense (24,582) Operating income $ (115,983) Intersegment revenues $ 447 $ 3,959 $ 4,006 $ — $ — $ 8,412 Capital expenditures 80,329 15,876 5,398 10,964 — 112,567 Share-based compensation expense — — — 24,582 — 24,582 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 loss $ 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 (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, 2022
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, 2021. The Company's reportable segments are: ▪ the Multiplatform Group, which includes the Company's Broadcast radio, Networks and Sponsorships and Events businesses; ▪ the 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.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the 2022 presentation.
New Accounting Pronouncements Recently Adopted and New Accounting Pronouncements Not Yet 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 does not expect the adoption of this standard to materially impact the financial position, results of operations or cash flows. New Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities in accordance with Accounting Standards Codification 606. The amendments of ASU 2021-08 are effective for interim and annual periods beginning after December 15, 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, 2022
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 $ 295,399 $ 352,129 Restricted cash included in: Other current assets 425 425 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 295,824 $ 352,554

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables show revenue streams for the three and nine months ended September 30, 2022 and 2021: (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Three Months Ended September 30, 2022 Revenue from contracts with customers: Broadcast Radio (1) $ 485,571 $ — $ — $ — $ 485,571 Networks (2) 127,239 — — — 127,239 Sponsorship and Events (3) 42,562 — — — 42,562 Digital, excluding Podcast (4) — 162,700 — (1,314) 161,386 Podcast (5) — 91,253 — — 91,253 Audio & Media Services (6) — — 77,794 (1,287) 76,507 Other (7) 4,106 — — (112) 3,994 Total 659,478 253,953 77,794 (2,713) 988,512 Revenue from leases (8) 418 — — — 418 Revenue, total $ 659,896 $ 253,953 $ 77,794 $ (2,713) $ 988,930 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 (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Nine Months Ended September 30, 2022 Revenue from contracts with customers: Broadcast Radio (1) $ 1,365,356 $ — $ — $ — $ 1,365,356 Networks (2) 372,329 — — — 372,329 Sponsorship and Events (3) 114,226 — — — 114,226 Digital, excluding Podcast (4) — 475,254 — (3,959) 471,295 Podcast (5) — 245,479 — — 245,479 Audio & Media Services (6) — — 209,716 (4,006) 205,710 Other (7) 11,372 — — (447) 10,925 Total 1,863,283 720,733 209,716 (8,412) 2,785,320 Revenue from leases (8) 1,073 — — — 1,073 Revenue, total $ 1,864,356 $ 720,733 $ 209,716 $ (8,412) $ 2,786,393 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 (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 software and media streaming, along with research services for radio stations, broadcast television stations, cable channels, record labels, ad agencies 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) 2022 2021 2022 2021 Trade and barter revenues $ 72,160 $ 49,200 $ 157,751 $ 127,654 Trade and barter expenses 38,001 33,955 113,752 101,998
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) 2022 2021 2022 2021 Deferred revenue from contracts with customers: Beginning balance (1) $ 189,679 $ 149,731 $ 161,114 $ 145,493 Revenue recognized, included in beginning balance (76,172) (52,406) (111,443) (84,375) Additions, net of revenue recognized during period, and other 64,879 56,799 128,715 93,006 Ending balance $ 178,386 $ 154,124 $ 178,386 $ 154,124 (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, 2022, the future lease payments to be received by the Company are as follows: (In thousands) 2022 $ 277 2023 837 2024 590 2025 405 2026 321 Thereafter 1,526 Total $ 3,956

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2022
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) 2022 2021 Cash paid for amounts included in measurement of operating lease liabilities $ 109,158 $ 100,815 Lease liabilities arising from obtaining right-of-use assets (1) 153,866 35,317 (1) Lease liabilities from obtaining right-of-use assets include new leases entered into during the nine months ended September 30, 2022 and 2021, respectively.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 and December 31, 2021, respectively: (In thousands) September 30, December 31, Land, buildings and improvements $ 310,507 $ 355,474 Towers, transmitters and studio equipment 201,334 180,571 Computer equipment and software 564,190 521,872 Furniture and other equipment 39,472 35,390 Construction in progress 80,454 64,732 1,195,957 1,158,039 Less: accumulated depreciation 503,636 375,946 Property, plant and equipment, net $ 692,321 $ 782,093
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, 2022 and December 31, 2021, respectively: (In thousands) September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,646,402 $ (589,168) $ 1,646,402 $ (459,620) Talent and other contracts 338,900 (149,728) 338,900 (117,337) Trademarks and tradenames 335,862 (113,866) 335,862 (88,252) Other 18,443 (9,503) 17,794 (7,149) Total $ 2,339,607 $ (862,265) $ 2,338,958 $ (672,358)
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) 2023 $ 244,387 2024 243,194 2025 212,001 2026 200,251 2027 176,171
Schedule of Changes in Carrying Amount of Goodwill	The following table presents the changes in the carrying amount of goodwill: (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 1,267 168,031 — 169,298 Dispositions (1,446) — — (1,446) Foreign currency — — (206) (206) Balance as of December 31, 2021 $ 1,462,038 $ 747,350 $ 104,193 $ 2,313,581 Dispositions (16) — — (16) Foreign currency — — (383) (383) Balance as of September 30, 2022 $ 1,462,022 $ 747,350 $ 103,810 $ 2,313,182

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Outstanding	Long-term debt outstanding for the Company as of September 30, 2022 and December 31, 2021 consisted of the following: (In thousands) September 30, 2022 December 31, 2021 Term Loan Facility due 2026 $ 1,864,032 $ 1,864,032 Incremental Term Loan Facility due 2026 401,220 401,220 Asset-based Revolving Credit Facility due 2023 (1) — — Asset-based Revolving Credit Facility due 2027 (1)(2) — — 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 (3) 4,414 5,350 Total consolidated secured debt 4,319,666 4,320,602 8.375% Senior Unsecured Notes due 2027 (4) 1,261,451 1,450,000 Other unsecured subsidiary debt 53 90 Original issue discount (11,302) (13,454) Long-term debt fees (16,154) (18,370) Total debt 5,553,714 5,738,868 Less: Current portion 665 673 Total long-term debt $ 5,553,049 $ 5,738,195 (1) On May 17, 2022, we entered into a $450.0 million New ABL Facility, maturing in 2027, which refinanced and replaced in its entirety the Existing ABL Facility. Refer to the 'Asset-based Revolving Credit Facility due 2027' section below for more information. (2) As of September 30, 2022, the New ABL Facility had a facility size of $450.0 million, no outstanding borrowings and $27.0 million of outstanding letters of credit, resulting in $423.0 million of borrowing base availability. (3) Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2023 through 2045. (4) During the three months ended September 30, 2022, we repurchased $75.0 million aggregate principal amount of iHeartCommunications Inc.'s 8.375% Senior Unsecured Notes due 2027 for $68.1 million in cash, excluding accrued interest, via open market transactions. The repurchased notes were subsequently cancelled and retired, resulting in a gain on extinguishment of debt of $6.9 million. During the nine months ended September 30, 2022, we repurchased $188.5 million aggregate principal amount of iHeartCommunications Inc.'s 8.375% Senior Unsecured Notes due 2027 for $173.4 million in cash, excluding accrued interest, via open market transactions. The repurchased notes were subsequently cancelled and retired, resulting in a gain on extinguishment of debt of $15.1 million.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Benefit (Expense)	The Company’s income tax benefit (expense) for the three and nine months ended September 30, 2022 and the three and nine months ended September 30, 2021 consisted of the following components: (In thousands) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Current tax benefit (expense) $ 15,871 $ (7,651) $ (26,289) $ (12,717) Deferred tax benefit (expense) (29,283) 34,798 31,304 (64,520) Income tax benefit (expense) $ (13,412) $ 27,147 $ 5,015 $ (77,237)

STOCKHOLDER'S EQUITY (Tables)

STOCKHOLDER'S EQUITY (Tables)	9 Months Ended
	Sep. 30, 2022
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 as of September 30, 2022: September 30, Class A Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 122,341,086 Class B Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 21,479,356 Special Warrants 5,111,312 Total Class A Common Stock, Class B Common Stock and Special Warrants issued 148,931,754
Schedule of Computation of Income (Loss) per Share	(In thousands, except per share data) Three Months Ended Nine Months Ended 2022 2021 2022 2021 NUMERATOR: Net income (loss) attributable to the Company – common shares $ (310,363) $ 3,180 $ (344,544) $ (270,829) DENOMINATOR (1) : Weighted average common shares outstanding - basic 148,299 147,040 147,957 146,591 Stock options and restricted stock (2) : — 3,357 — — Weighted average common shares outstanding - diluted 148,299 150,397 147,957 146,591 Net income (loss) attributable to the Company per common share: Basic $ (2.09) $ 0.02 $ (2.33) $ (1.85) Diluted $ (2.09) $ 0.02 $ (2.33) $ (1.85) (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, 2022 and 2021. (2) Outstanding equity awards representing 11.7 million and 0.3 million shares of Class A common stock of the Company for the three months ended September 30, 2022 and 2021, respectively, and 10.8 million and 10.6 million for the nine

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 and 2021: Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended September 30, 2022 Revenue $ 659,896 $ 253,953 $ 77,794 $ — $ (2,713) $ 988,930 Operating expenses (1) 452,631 175,636 48,044 63,090 (2,713) 736,688 Segment Adjusted EBITDA (2) $ 207,265 $ 78,317 $ 29,750 $ (63,090) $ — $ 252,242 Depreciation and amortization (109,305) Impairment charges (309,750) Other operating expense, net (9,451) Restructuring expenses (24,486) Share-based compensation expense (10,437) Operating income $ (211,187) Intersegment revenues $ 112 $ 1,314 $ 1,287 $ — $ — $ 2,713 Capital expenditures 31,613 4,808 1,276 2,660 — 40,357 Share-based compensation expense — — — 10,437 — 10,437 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 Nine Months Ended September 30, 2022 Revenue $ 1,864,356 $ 720,733 $ 209,716 $ — $ (8,412) $ 2,786,393 Operating expenses (1) 1,328,688 511,025 141,509 178,938 (8,412) 2,151,748 Segment Adjusted EBITDA (2) $ 535,668 $ 209,708 $ 68,207 $ (178,938) $ — $ 634,645 Depreciation and amortization (334,144) Impairment charges (311,329) Other operating expense, net (25,985) Restructuring expenses (54,588) Share-based compensation expense (24,582) Operating income $ (115,983) Intersegment revenues $ 447 $ 3,959 $ 4,006 $ — $ — $ 8,412 Capital expenditures 80,329 15,876 5,398 10,964 — 112,567 Share-based compensation expense — — — 24,582 — 24,582 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 loss $ 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 (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) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2022	Mar. 27, 2020
Accounting Policies [Abstract]
Employer social security payments, deferred payment, CARES Act			$ 29,300
Refundable payroll tax credit, CARES Act					$ 12,400
Refundable payroll tax credit received, CARES Act	$ 7,900	$ 3,800	$ 700
Cash and cash equivalents		$ 352,129		$ 295,399

BASIS OF PRESENTATION - Reconci

BASIS OF PRESENTATION - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 295,399	$ 352,129
Restricted cash included in:
Other current assets	425	425
Total cash, cash equivalents and restricted cash in the Statement of Cash Flows	$ 295,824	$ 352,554	$ 369,520	$ 721,187

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 988,512	$ 927,747	$ 2,785,320	$ 2,495,188
Revenue from leases	418	304	1,073	1,133
Revenue, total	988,930	928,051	2,786,393	2,496,321
Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	485,571	483,456	1,365,356	1,293,134
Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	127,239	127,920	372,329	366,592
Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	42,562	42,663	114,226	93,641
Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	161,386	140,098	471,295	400,729
Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	91,253	64,196	245,479	155,976
Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	76,507	64,890	205,710	177,337
Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,994	4,524	10,925	7,779
Operating segments | Multiplatform Group
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	659,478	658,675	1,863,283	1,761,593
Revenue from leases	418	304	1,073	1,133
Revenue, total	659,896	658,979	1,864,356	1,762,726
Operating segments | Multiplatform Group | Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	485,571	483,456	1,365,356	1,293,134
Operating segments | Multiplatform Group | Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	127,239	127,920	372,329	366,592
Operating segments | Multiplatform Group | Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	42,562	42,663	114,226	93,641
Operating segments | Multiplatform Group | Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Multiplatform Group | Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Multiplatform Group | Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Multiplatform Group | Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,106	4,636	11,372	8,226
Operating segments | Digital Audio Group
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	253,953	205,769	720,733	561,252
Revenue from leases	0	0	0	0
Revenue, total	253,953	205,769	720,733	561,252
Operating segments | Digital Audio Group | Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Digital Audio Group | Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Digital Audio Group | Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Digital Audio Group | Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	162,700	141,573	475,254	405,276
Operating segments | Digital Audio Group | Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	91,253	64,196	245,479	155,976
Operating segments | Digital Audio Group | Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Digital Audio Group | Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Audio & Media Services Group
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	77,794	66,078	209,716	182,390
Revenue from leases	0	0	0	0
Revenue, total	77,794	66,078	209,716	182,390
Operating segments | Audio & Media Services Group | Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Audio & Media Services Group | Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Audio & Media Services Group | Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Audio & Media Services Group | Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Audio & Media Services Group | Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Operating segments | Audio & Media Services Group | Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	77,794	66,078	209,716	182,390
Operating segments | Audio & Media Services Group | Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(2,713)	(2,775)	(8,412)	(10,047)
Revenue from leases	0	0	0	0
Revenue, total	(2,713)	(2,775)	(8,412)	(10,047)
Eliminations | Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations | Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations | Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations | Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1,314)	(1,475)	(3,959)	(4,547)
Eliminations | Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations | Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1,287)	(1,188)	(4,006)	(5,053)
Eliminations | Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ (112)	$ (112)	$ (447)	$ (447)

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Trade and barter revenues	$ 988,512	$ 927,747	$ 2,785,320	$ 2,495,188
Trade and Barter Transactions
Disaggregation of Revenue [Line Items]
Trade and barter revenues	72,160	49,200	157,751	127,654
Trade and barter expenses	$ 38,001	$ 33,955	$ 113,752	$ 101,998

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Trade and barter revenues	$ 988,512	$ 927,747	$ 2,785,320	$ 2,495,188
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 387,200		$ 387,200
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	$ 14,900	$ 4,900	$ 27,200	$ 9,400

REVENUE - Schedule of Contract

REVENUE - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Deferred revenue from contracts with customers:
Beginning balance	$ 189,679	$ 149,731	$ 161,114	$ 145,493
Revenue recognized, included in beginning balance	(76,172)	(52,406)	(111,443)	(84,375)
Additions, net of revenue recognized during period, and other	64,879	56,799	128,715	93,006
Ending balance	$ 178,386	$ 154,124	$ 178,386	$ 154,124

REVENUE - Revenue From Leases (

REVENUE - Revenue From Leases (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2022	$ 277
2023	837
2024	590
2025	405
2026	321
Thereafter	1,526
Total	$ 3,956

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Non-cash impairment charge on operating lease			$ 8,500	$ 38,000
Impairment of leasehold improvements			700	11,400
Impairment charges	$ 309,750	$ 11,647	311,329	49,391
Non-cash operating lease expense			$ 65,600	$ 75,800

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Cash paid for amounts included in measurement of operating lease liabilities	$ 109,158	$ 100,815
Lease liabilities arising from obtaining right-of-use assets	$ 153,866	$ 35,317

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Property, Plant And Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,195,957	$ 1,158,039
Less: accumulated depreciation	503,636	375,946
Property, plant and equipment, net	692,321	782,093
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	310,507	355,474
Towers, transmitters and studio equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	201,334	180,571
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	564,190	521,872
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	39,472	35,390
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 80,454	$ 64,732

PROPERTY, PLANT AND EQUIPMENT_4

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, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,339,607	$ 2,338,958
Accumulated Amortization	(862,265)	(672,358)
Customer / advertiser relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,646,402	1,646,402
Accumulated Amortization	(589,168)	(459,620)
Talent and other contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	338,900	338,900
Accumulated Amortization	(149,728)	(117,337)
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	335,862	335,862
Accumulated Amortization	(113,866)	(88,252)
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,443	17,794
Accumulated Amortization	$ (9,503)	$ (7,149)

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total amortization expense related to definite-lived intangible assets	$ 63,400,000	$ 64,300,000	$ 189,900,000	$ 218,000,000
Goodwill impairment			0
Licenses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of intangible assets, indefinite-lived			$ 302,100,000

PROPERTY, PLANT AND EQUIPMENT_6

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Property, Plant and Equipment [Abstract]
2023	$ 244,387
2024	243,194
2025	212,001
2026	200,251
2027	$ 176,171

PROPERTY, PLANT AND EQUIPMENT_7

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Changes In Carrying Amount Of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Goodwill
Beginning balance	$ 2,313,581	$ 2,145,935
Acquisitions		169,298
Dispositions	(16)	(1,446)
Foreign currency	(383)	(206)
Ending balance	2,313,182	2,313,581
Multiplatform Group
Goodwill
Beginning balance	1,462,038	1,462,217
Acquisitions		1,267
Dispositions	(16)	(1,446)
Foreign currency	0	0
Ending balance	1,462,022	1,462,038
Digital Audio Group
Goodwill
Beginning balance	747,350	579,319
Acquisitions		168,031
Dispositions	0	0
Foreign currency	0	0
Ending balance	747,350	747,350
Audio & Media Services Group
Goodwill
Beginning balance	104,193	104,399
Acquisitions		0
Dispositions	0	0
Foreign currency	(383)	(206)
Ending balance	$ 103,810	$ 104,193

LONG-TERM DEBT - Schedule Of Lo

LONG-TERM DEBT - Schedule Of Long-Term Debt Outstanding (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	May 17, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt	$ 5,553,714,000		$ 5,553,714,000			$ 5,738,868,000
Original issue discount	(11,302,000)		(11,302,000)			(13,454,000)
Long-term debt fees	(16,154,000)		(16,154,000)			(18,370,000)
Less: Current portion	665,000		665,000			673,000
Total long-term debt	5,553,049,000		5,553,049,000			5,738,195,000
Gain on extinguishment of debt	6,892,000	$ (7,896,000)	15,095,000	$ (7,896,000)
Secured Debt
Debt Instrument [Line Items]
Long-term debt	4,319,666,000		4,319,666,000			4,320,602,000
Secured Debt | Term Loan Facility due 2026
Debt Instrument [Line Items]
Long-term debt	1,864,032,000		1,864,032,000			1,864,032,000
Secured Debt | Incremental Term Loan Facility due 2026
Debt Instrument [Line Items]
Long-term debt	401,220,000		401,220,000			401,220,000
Secured Debt | Asset-based Revolving Credit Facility due 2023
Debt Instrument [Line Items]
Long-term debt	0		0			0
Secured Debt | Asset-based Revolving Credit Facility due 2027
Debt Instrument [Line Items]
Long-term debt	$ 0		$ 0			0
Secured Debt | 6.375% Senior Secured Notes due 2026
Debt Instrument [Line Items]
Stated interest rate (as a percent)	6.375%		6.375%
Long-term debt	$ 800,000,000		$ 800,000,000			800,000,000
Secured Debt | 5.25% Senior Secured Notes due 2027
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.25%		5.25%
Long-term debt	$ 750,000,000		$ 750,000,000			750,000,000
Secured Debt | 4.75% Senior Secured Notes due 2028
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.75%		4.75%
Long-term debt	$ 500,000,000		$ 500,000,000			500,000,000
Secured Debt | Other secured subsidiary debt
Debt Instrument [Line Items]
Long-term debt	$ 4,414,000		$ 4,414,000			5,350,000
Unsecured Debt | 8.375% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Stated interest rate (as a percent)	8.375%		8.375%
Long-term debt	$ 1,261,451,000		$ 1,261,451,000			1,450,000,000
Repurchased debt principal amount during period	75,000,000		188,500,000
Payment for repurchase of debt	68,100,000		173,400,000
Gain on extinguishment of debt	6,900,000		15,100,000
Unsecured Debt | Other unsecured subsidiary debt
Debt Instrument [Line Items]
Long-term debt	53,000		53,000			$ 90,000
Line of Credit | Asset-based Revolving Credit Facility due 2027 | Subsidiary | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings provided under credit facility	450,000,000		450,000,000		$ 450,000,000
Outstanding borrowings under facility	0		0
Letters of credit outstanding	27,000,000		27,000,000
Line of credit, remaining borrowing availability	$ 423,000,000		$ 423,000,000

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Weighted average interest rate (as a percent)	6.40%	5.40%
Aggregate market value of debt	$ 5	$ 5.9

LONG-TERM DEBT - Asset-based Re

LONG-TERM DEBT - Asset-based Revolving Credit Facility due 2023 (Details) - Revolving Credit Facility - Subsidiary - Line of Credit - Asset-based Revolving Credit Facility due 2027	May 17, 2022 USD ($) d	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Maximum borrowings provided under credit facility	$ 450,000,000	$ 450,000,000
Credit facility, borrowing base terms, percentage of eligible accounts receivable	90%
Credit facility, borrowing base terms, percentage of qualified cash	100%
Increase in credit facility commitments, base amount	$ 150,000,000
Outstanding borrowings under facility		0
Letters of credit outstanding		27,000,000
Line of credit, remaining borrowing availability		$ 423,000,000
Debt covenant, borrowing capacity threshold	$ 40,000,000
Debt covenant, percentage of aggregate commitments	10%
Debt covenant, trigger event, number of consecutive business days | d	2
Debt covenant, minimum fixed charge coverage ratio	1
Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.25%
Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
Debt covenant, trigger event, number of consecutive business days | d	20
SOFR
Debt Instrument [Line Items]
Debt, basis spread on variable rate	0.10%
Eurodollar | Minimum
Debt Instrument [Line Items]
Debt, basis spread on variable rate	1.25%
Eurodollar | Maximum
Debt Instrument [Line Items]
Debt, basis spread on variable rate	1.75%
Base Rate | Minimum
Debt Instrument [Line Items]
Debt, basis spread on variable rate	0.25%
Base Rate | Maximum
Debt Instrument [Line Items]
Debt, basis spread on variable rate	0.75%

LONG-TERM DEBT - Surety Bonds,

LONG-TERM DEBT - Surety Bonds, Letters of Credit and Guarantees (Details) $ in Millions	Sep. 30, 2022 USD ($)
Surety bonds
Debt Instrument [Line Items]
Guarantees obligations	$ 8.8
Commercial standby letters of credit
Debt Instrument [Line Items]
Guarantees obligations	27.4
Bank Guarantee
Debt Instrument [Line Items]
Guarantees obligations	$ 0.2

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Current tax benefit (expense)	$ 15,871	$ (7,651)	$ (26,289)	$ (12,717)
Deferred tax benefit (expense)	(29,283)	34,798	31,304	(64,520)
Income tax benefit (expense)	$ (13,412)	$ 27,147	$ 5,015	$ (77,237)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rates (as a percent)	(4.50%)	115.60%	1.40%	(40.00%)

STOCKHOLDER'S EQUITY - Narrativ

STOCKHOLDER'S EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	3 Months Ended			9 Months Ended
	Sep. 30, 2022	May 09, 2022	Mar. 28, 2022	May 01, 2019	Aug. 31, 2020	Sep. 30, 2022		Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021		Dec. 31, 2021	Nov. 05, 2020	Jul. 25, 2019
Class of Stock [Line Items]
Share-based compensation expense						$ 10,437		$ 5,993	$ 24,582		$ 17,581
Common stock, shares authorized (in shares)	2,100,000,000					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				1,000,000,000
Common stock, par value (in dollars per share)	$ 0.001					$ 0.001			$ 0.001				$ 0.001
Conversion of Special Warrants to Class A and Class B Shares (in shares)						85,141	[1]	60,698	96,516	[2]	47,197,139	[3]
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				1,000,000,000
Common stock, par value (in dollars per share)	$ 0.001					$ 0.001			$ 0.001				$ 0.001
Conversion of Class B Shares to Class A Shares (in shares)						9,218		1,130,851	207,438		6,718,576
Conversion of Special Warrants to Class A and Class B Shares (in shares)											22,337,312
Preferred Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	100,000,000					100,000,000			100,000,000
Common stock, par value (in dollars per share)	$ 0.001					$ 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%
FCC petitions for declaratory ruling, percentage of voting stock and equity owned by non-US individuals and entities (up to)															25%
FCC petitions for declaratory ruling, foreign owned percentage permitted														100%
Performance RSUs
Class of Stock [Line Items]
Share-based compensation expense								$ 400			$ 1,400
Award vesting period (in months)					18 months
Q1 2022 Performance RSUs
Class of Stock [Line Items]
Share-based compensation expense						$ 800			$ 1,500
Award vesting period (in months)			50 months
Unrecognized compensation cost	$ 11,000					11,000			11,000
Unrecognized compensation cost, weighted average period (in years)	50 months
Q2 2022 Performance RSUs
Class of Stock [Line Items]
Share-based compensation expense						1,300			2,000
Unrecognized compensation cost	$ 13,400					13,400			13,400
Unrecognized compensation cost, weighted average period (in years)	3 years	3 years
Awards Vesting Based On Service Conditions
Class of Stock [Line Items]
Unrecognized compensation cost	$ 54,300					$ 54,300			$ 54,300
Unrecognized compensation cost, weighted average period (in years)									3 years 4 months 24 days
[1]The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2022.[2]The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2022 or 2021.[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.

STOCKHOLDER'S EQUITY - Common S

STOCKHOLDER'S EQUITY - Common Stock and Special Warrants (Details) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	2,100,000,000
Common stock, shares issued (in shares)	148,931,754
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)	122,341,086	120,633,937
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)	21,479,356	21,590,192
Special Warrants
Class of Stock [Line Items]
Common stock, shares issued (in shares)	5,111,312	5,304,430

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
NUMERATOR:
Net income (loss) attributable to the Company – common shares, basic	$ (310,363)	$ 3,180	$ (344,544)	$ (270,829)
Net income (loss) attributable to the Company – common shares, diluted	$ (310,363)	$ 3,180	$ (344,544)	$ (270,829)
DENOMINATOR:
Weighted average common shares outstanding - basic (in shares)	148,299	147,040	147,957	146,591
Stock options and restricted stock (in shares)	0	3,357	0	0
Weighted average common shares outstanding - diluted (in shares)	148,299	150,397	147,957	146,591
Net income (loss) attributable to the Company per common share:
Basic (in dollars per share)	$ (2.09)	$ 0.02	$ (2.33)	$ (1.85)
Diluted (in dollars per share)	$ (2.09)	$ 0.02	$ (2.33)	$ (1.85)
Outstanding equity awards excluded from computation of diluted earnings per share (in shares)	11,700	300	10,800	10,600

SEGMENT DATA (Details)

SEGMENT DATA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 988,930	$ 928,051	$ 2,786,393	$ 2,496,321
Operating expenses	736,688	697,838	2,151,748	1,979,353
Segment Adjusted EBITDA	252,242	230,213	634,645	516,968
Depreciation and amortization	(109,305)	(108,100)	(334,144)	(343,408)
Impairment charges	(309,750)	(11,647)	(311,329)	(49,391)
Other operating expense, net	(9,451)	(12,341)	(25,985)	(27,491)
Restructuring expenses	(24,486)	(12,021)	(54,588)	(47,216)
Share-based compensation expense	(10,437)	(5,993)	(24,582)	(17,581)
Operating income (loss)	(211,187)	80,111	(115,983)	31,881
Capital expenditures	40,357	50,274	112,567	101,335
Operating segments | Multiplatform Group
Segment Reporting Information [Line Items]
Revenue	659,896	658,979	1,864,356	1,762,726
Operating expenses	452,631	450,549	1,328,688	1,268,107
Segment Adjusted EBITDA	207,265	208,430	535,668	494,619
Share-based compensation expense	0	0	0	0
Capital expenditures	31,613	35,082	80,329	66,522
Operating segments | Digital Audio Group
Segment Reporting Information [Line Items]
Revenue	253,953	205,769	720,733	561,252
Operating expenses	175,636	138,646	511,025	399,828
Segment Adjusted EBITDA	78,317	67,123	209,708	161,424
Share-based compensation expense	0	0	0	0
Capital expenditures	4,808	6,223	15,876	17,934
Operating segments | Audio & Media Services Group
Segment Reporting Information [Line Items]
Revenue	77,794	66,078	209,716	182,390
Operating expenses	48,044	43,656	141,509	124,148
Segment Adjusted EBITDA	29,750	22,422	68,207	58,242
Share-based compensation expense	0	0	0	0
Capital expenditures	1,276	3,967	5,398	6,158
Corporate and other reconciling items
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating expenses	63,090	67,762	178,938	197,317
Segment Adjusted EBITDA	(63,090)	(67,762)	(178,938)	(197,317)
Share-based compensation expense	(10,437)	(5,993)	(24,582)	(17,581)
Capital expenditures	2,660	5,002	10,964	10,721
Eliminations
Segment Reporting Information [Line Items]
Revenue	(2,713)	(2,775)	(8,412)	(10,047)
Operating expenses	(2,713)	(2,775)	(8,412)	(10,047)
Segment Adjusted EBITDA	0	0	0	0
Share-based compensation expense	0	0	0	0
Capital expenditures	0	0	0	0
Intersegment revenues
Segment Reporting Information [Line Items]
Revenue	2,713	2,775	8,412	10,047
Intersegment revenues | Multiplatform Group
Segment Reporting Information [Line Items]
Revenue	112	112	447	447
Intersegment revenues | Digital Audio Group
Segment Reporting Information [Line Items]
Revenue	1,314	1,475	3,959	4,547
Intersegment revenues | Audio & Media Services Group
Segment Reporting Information [Line Items]
Revenue	$ 1,287	$ 1,188	$ 4,006	$ 5,053