The radio giant — proprietor of over 800 terrestrial stations across the country, also a growing podcast effort — is preparing to file for an IPO, the Wall Street Journal and New York Times reported yesterday. The move comes as the company works its way out of bankruptcy, with the thinking that money raised from the listing will be used to pay off debts.
The Times report, in particular, has some pretty interesting detail, including the possibility that iHeartMedia could use a direct listing approach — the same thing Spotify did when the Swedish streaming company went public this time last year.
Anyway, something to keep an eye on. In case it’s relevant to you, the Podtrac ranker indicates that iHeartMedia’s unique US monthly podcast audience is around 16.5 million people across 160 shows, just under NPR’s more efficient ~18 million across 48 shows.