iHeartMedia (IHRT) 10-Q2 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2023	Apr. 27, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		121,939,034
Class B Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		21,347,363

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 187,933	$ 336,236
Accounts receivable, net of allowance of $29,767 in 2023 and $29,171 in 2022	935,233	1,037,827
Prepaid expenses	112,010	79,098
Other current assets	36,152	19,618
Total Current Assets	1,271,328	1,472,779
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net	674,379	694,842
INTANGIBLE ASSETS AND GOODWILL
Indefinite-lived intangibles - licenses and other	1,476,319	1,476,319
Other intangibles, net	1,357,884	1,419,670
Goodwill	2,313,436	2,313,403
OTHER ASSETS
Operating lease right-of-use assets	770,829	788,280
Other assets	171,016	170,594
Total Assets	8,035,191	8,335,887
CURRENT LIABILITIES
Accounts payable	177,270	240,454
Current operating lease liabilities	75,124	70,024
Accrued expenses	201,163	325,427
Accrued interest	57,943	64,165
Deferred revenue	144,671	131,084
Current portion of long-term debt	525	664
Total Current Liabilities	656,696	831,818
Long-term debt	5,394,932	5,413,503
Noncurrent operating lease liabilities	832,468	848,918
Deferred income taxes	556,431	483,810
Other long-term liabilities	122,760	73,332
Commitments and contingent liabilities (Note 6)
STOCKHOLDERS’ EQUITY
Noncontrolling interest	9,185	9,609
Preferred stock, par value $.001 per share, 100,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	2,922,652	2,912,500
Accumulated deficit	(2,449,742)	(2,227,482)
Accumulated other comprehensive loss	(1,377)	(1,331)
Cost of shares (600,525 in 2023 and 597,482 in 2022) held in treasury	(8,958)	(8,934)
Total Stockholders' Equity	471,904	684,506
Total Liabilities and Stockholders' Equity	8,035,191	8,335,887
Class A Common Stock
STOCKHOLDERS’ EQUITY
Common stock	123	123
Class B Common Stock
STOCKHOLDERS’ EQUITY
Common stock	21	21
Special Warrants
STOCKHOLDERS’ EQUITY
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Allowance for receivables	$ 29,767	$ 29,171
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)	148,966,431
Shares held in treasury (in shares)	600,525	597,482
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)	122,385,200	122,370,425
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)	21,469,919	21,477,181
Special Warrants
Class of Stock [Line Items]
Common stock, shares issued (in shares)	5,111,312	5,111,312
Common stock, shares outstanding (in shares)	5,111,312	5,111,312

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 811,239	$ 843,458
Operating expenses:
Direct operating expenses (excludes depreciation and amortization)	344,620	330,524
Selling, general and administrative expenses (excludes depreciation and amortization)	402,801	384,344
Depreciation and amortization	108,512	114,051
Impairment charges	3,947	1,334
Other operating expense, net	221	870
Operating income (loss)	(48,862)	12,335
Interest expense, net	95,457	79,219
Loss on investments, net	(6,505)	(1,765)
Equity in earnings (loss) of nonconsolidated affiliates	40	(29)
Gain on extinguishment of debt	4,625	0
Other expense, net	(99)	(270)
Loss before income taxes	(146,258)	(68,948)
Income tax benefit (expense)	(76,105)	20,209
Net loss	(222,363)	(48,739)
Less amount attributable to noncontrolling interest	(103)	(157)
Net loss attributable to the Company	(222,260)	(48,582)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(46)	(247)
Other comprehensive loss, net of tax	(46)	(247)
Comprehensive loss	(222,306)	(48,829)
Less amount attributable to noncontrolling interest	0	0
Comprehensive loss attributable to the Company	$ (222,306)	$ (48,829)
Net loss attributable to the Company per common share:
Basic (in dollars per share)	$ (1.50)	$ (0.33)
Weighted average common shares outstanding - Basic (in shares)	148,365	147,513
Diluted (in dollars per share)	$ (1.50)	$ (0.33)
Weighted average common shares outstanding - Diluted (in shares)	148,365	147,513

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, 2021	[1]						120,633,937		21,590,192		5,304,430
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 loss		(48,739)											(157)		(48,582)
Vesting of restricted stock and other (in shares)	[1]						597,400
Vesting of restricted stock and other		(106)				1								409			(516)
Share-based compensation		5,535												5,535
Conversion of Special Warrants to Class A and Class B Shares (in shares)			11,361	0			11,361	[1]			11,361	[1]
Conversion of Class B Shares to Class A Shares (in shares)				159,692			159,692	[1]	159,692	[1]
Other		(187)											(187)
Other comprehensive loss		(247)														(247)
Ending balance (in shares) at Mar. 31, 2022	[1]						121,402,390		21,430,500		5,293,069
Ending balance at Mar. 31, 2022		872,021				143							8,066	2,882,515	(2,011,401)	(504)	(6,798)
Beginning balance (in shares) at Dec. 31, 2022					5,111,312		122,370,425	[2]	21,477,181	[2]	5,111,312	[2]
Beginning balance at Dec. 31, 2022		684,506				144							9,609	2,912,500	(2,227,482)	(1,331)	(8,934)
Increase (Decrease) in Stockholders' Equity
Net loss		(222,363)											(103)		(222,260)
Vesting of restricted stock and other (in shares)	[2]						7,513
Vesting of restricted stock and other		(24)				0								0			(24)
Share-based compensation		10,152												10,152
Conversion of Special Warrants to Class A and Class B Shares (in shares)			0	0
Conversion of Class B Shares to Class A Shares (in shares)				7,262			7,262	[2]	7,262	[2]
Other		(321)											(321)
Other comprehensive loss		(46)														(46)
Ending balance (in shares) at Mar. 31, 2023					5,111,312		122,385,200	[2]	21,469,919	[2]	5,111,312	[2]
Ending balance at Mar. 31, 2023		$ 471,904				$ 144							$ 9,185	$ 2,922,652	$ (2,449,742)	$ (1,377)	$ (8,958)

[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 2023.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (222,363)	$ (48,739)
Reconciling items:
Impairment charges	3,947	1,334
Depreciation and amortization	108,512	114,051
Deferred taxes	72,620	(23,788)
Provision for doubtful accounts	6,441	2,111
Amortization of deferred financing charges and note discounts, net	1,656	1,439
Share-based compensation	10,152	5,535
(Gain) Loss on disposal of operating and other assets	(278)	584
Loss on investments	6,505	1,765
Equity in (earnings) loss of nonconsolidated affiliates	(40)	29
Gain on extinguishment of debt	(4,625)	0
Barter and trade income	(8,007)	(7,021)
Other reconciling items, net	89	242
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Decrease in accounts receivable	94,759	121,339
Increase in prepaid expenses and other current assets	(37,032)	(39,983)
Increase in other long-term assets	(1,521)	(2,610)
Decrease in accounts payable	(63,187)	(49,129)
Decrease in accrued expenses	(73,306)	(151,853)
Increase (decrease) in accrued interest	(6,222)	1,829
Increase in deferred income	16,829	19,602
Increase in other long-term liabilities	1,088	1,051
Cash used for operating activities	(93,983)	(52,212)
Cash flows from investing activities:
Purchases of property, plant and equipment	(39,165)	(22,557)
Proceeds from disposal of assets	1,454	6,009
Change in other, net	(710)	(3,142)
Cash used for investing activities	(38,421)	(19,690)
Cash flows from financing activities:
Payments on long-term debt and credit facilities	(15,593)	(168)
Change in other, net	(345)	(293)
Cash used for financing activities	(15,938)	(461)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	39	(83)
Net decrease in cash, cash equivalents and restricted cash	(148,303)	(72,446)
Cash, cash equivalents and restricted cash at beginning of period	336,661	352,554
Cash, cash equivalents and restricted cash at end of period	188,358	280,108
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	101,759	76,104
Cash paid for income taxes	$ 3,160	$ 1,123

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2023
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, 2022. The Company reports based on three reportable segments: ▪ 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 correlated to changes in economic conditions. Increasing interest rates and high inflation contributed to a challenging macroeconomic environment beginning in the third quarter of 2022. This challenging environment has led to broader market uncertainty, which impacted the Company's revenue in the first quarter of 2023. The current market uncertainty and macroeconomic conditions, a recession, or a downturn in the U.S. economy could have a significant impact on the Company's ability to generate revenue. 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 of which was due and paid 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 March 31, 2023, the Company had approximately $187.9 million in cash and cash equivalents, and the $450.0 million senior secured asset-based revolving credit facility entered into on May 17, 2022 (the "ABL Facility") had a borrowing base of $438.3 million, no outstanding borrowings and $25.0 million of outstanding letters of credit, resulting in $413.3 million of borrowing base availability. Together with our cash balance of $187.9 million as of March 31, 2023 and our borrowing capacity under the ABL Facility, our total available liquidity was approximately $601 million. 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 2023 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) March 31, December 31, Cash and cash equivalents $ 187,933 $ 336,236 Restricted cash included in: Other current assets 425 425 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 188,358 $ 336,661 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 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 Company adopted this guidance during the first quarter of 2023. The adoption did not have a material impact on the Company’s financial position, results of operations or cash flows.

REVENUE

REVENUE	3 Months Ended
REVENUE	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue The following tables show revenue streams for the three months ended March 31, 2023 and 2022: (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Three Months Ended March 31, 2023 Revenue from contracts with customers: Broadcast Radio (1) $ 383,238 $ — $ — $ — $ 383,238 Networks (2) 107,954 — — — 107,954 Sponsorship and Events (3) 32,587 — — — 32,587 Digital, excluding Podcast (4) — 146,585 — (1,189) 145,396 Podcast (5) — 76,811 — — 76,811 Audio & Media Services (6) — — 61,351 (1,332) 60,019 Other (7) 4,924 — — — 4,924 Total 528,703 223,396 61,351 (2,521) 810,929 Revenue from leases (8) 310 — — — 310 Revenue, total $ 529,013 $ 223,396 $ 61,351 $ (2,521) $ 811,239 Three Months Ended March 31, 2022 Revenue from contracts with customers: Broadcast Radio (1) $ 415,242 $ — $ — $ — $ 415,242 Networks (2) 117,558 — — — 117,558 Sponsorship and Events (3) 33,601 — — — 33,601 Digital, excluding Podcast (4) — 145,675 — (1,269) 144,406 Podcast (5) — 68,544 — — 68,544 Audio & Media Services (6) — — 60,857 (1,341) 59,516 Other (7) 4,469 — — (168) 4,301 Total 570,870 214,219 60,857 (2,778) 843,168 Revenue from leases (8) 290 — — — 290 Revenue, total $ 571,160 $ 214,219 $ 60,857 $ (2,778) $ 843,458 (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. The revenues and expenses may not be recognized in the same period depending on the timing of the services, advertising or promotion received in exchange for advertising spots. 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 (In thousands) 2023 2022 Trade and barter revenues $ 45,029 $ 40,348 Trade and barter expenses 47,386 46,415 In addition to the trade and barter revenue in the table above, the Company recognized $8.0 million and $7.0 million during the three months ended March 31, 2023 and 2022, 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 (In thousands) 2023 2022 Deferred revenue from contracts with customers: Beginning balance (1) $ 157,910 $ 161,114 Revenue recognized, included in beginning balance (56,133) (60,389) Additions, net of revenue recognized during period, and other 68,904 83,331 Ending balance $ 170,681 $ 184,056 (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 March 31, 2023, the Company expects to recognize $310.4 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 March 31, 2023, the future lease payments to be received by the Company are as follows: (In thousands) 2023 $ 714 2024 693 2025 509 2026 393 2027 339 Thereafter 1,251 Total $ 3,899

LEASES

LEASES	3 Months Ended
LEASES	Mar. 31, 2023
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 three months ended March 31, 2023, the Company recognized non-cash impairment charges of $3.9 million primarily in connection with changes in sublease assumptions for ROU assets related to certain operating leases for which management has made proactive decisions to abandon and sublease in connection with strategic actions to streamline the Company’s real estate footprint as part of the Company’s modernization initiatives. During the three months ended March 31, 2023, there were no non-cash impairment charges related to leasehold improvements. During the three months ended March 31, 2022, the Company recognized non-cash impairment charges of $1.3 million, including $1.2 million related to ROU assets, and $0.1 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: Three Months Ended March 31, (In thousands) 2023 2022 Cash paid for amounts included in measurement of operating lease liabilities $ 32,963 $ 43,265 Lease liabilities arising from obtaining right-of-use assets (1) 4,821 7,586 (1) Lease liabilities from obtaining right-of-use assets include new leases entered into during the three months ended March 31, 2023 and 2022, 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 operating lease expense was $18.1 million and $23.4 million for the three months ended March 31, 2023 and March 31, 2022, respectively.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 and December 31, 2022, respectively: (In thousands) March 31, December 31, Land, buildings and improvements $ 349,459 $ 340,692 Towers, transmitters and studio equipment 221,588 215,655 Computer equipment and software 629,218 617,794 Furniture and other equipment 41,900 41,924 Construction in progress 28,373 29,091 1,270,538 1,245,156 Less: accumulated depreciation 596,159 550,314 Property, plant and equipment, net $ 674,379 $ 694,842 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. 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 March 31, 2023 and December 31, 2022, respectively: (In thousands) March 31, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,652,455 $ (675,167) $ 1,652,455 $ (633,352) Talent and other contracts 338,900 (171,272) 338,900 (160,500) Trademarks and tradenames 335,862 (130,941) 335,862 (122,403) Other 18,443 (10,396) 18,443 (9,735) Total $ 2,345,660 $ (987,776) $ 2,345,660 $ (925,990) Total amortization expense related to definite-lived intangible assets for the Company for the three months ended March 31, 2023 and 2022 was $61.8 million and $63.1 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) 2024 $ 244,707 2025 213,514 2026 201,512 2027 176,171 2028 160,395 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 December 31, 2022 $ 1,462,022 $ 747,350 $ 104,031 $ 2,313,403 Foreign currency — — 33 33 Balance as of March 31, 2023 $ 1,462,022 $ 747,350 $ 104,064 $ 2,313,436
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 March 31, 2023 and December 31, 2022, respectively: (In thousands) March 31, December 31, Land, buildings and improvements $ 349,459 $ 340,692 Towers, transmitters and studio equipment 221,588 215,655 Computer equipment and software 629,218 617,794 Furniture and other equipment 41,900 41,924 Construction in progress 28,373 29,091 1,270,538 1,245,156 Less: accumulated depreciation 596,159 550,314 Property, plant and equipment, net $ 674,379 $ 694,842 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. 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 March 31, 2023 and December 31, 2022, respectively: (In thousands) March 31, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,652,455 $ (675,167) $ 1,652,455 $ (633,352) Talent and other contracts 338,900 (171,272) 338,900 (160,500) Trademarks and tradenames 335,862 (130,941) 335,862 (122,403) Other 18,443 (10,396) 18,443 (9,735) Total $ 2,345,660 $ (987,776) $ 2,345,660 $ (925,990) Total amortization expense related to definite-lived intangible assets for the Company for the three months ended March 31, 2023 and 2022 was $61.8 million and $63.1 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) 2024 $ 244,707 2025 213,514 2026 201,512 2027 176,171 2028 160,395 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 December 31, 2022 $ 1,462,022 $ 747,350 $ 104,031 $ 2,313,403 Foreign currency — — 33 33 Balance as of March 31, 2023 $ 1,462,022 $ 747,350 $ 104,064 $ 2,313,436

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
LONG-TERM DEBT	Mar. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt outstanding for the Company as of March 31, 2023 and December 31, 2022 consisted of the following: (In thousands) March 31, 2023 December 31, 2022 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 2027 (1) — — 6.375% Senior Secured Notes due 2026 800,000 800,000 5.25% Senior Secured Notes due 2027 750,000 750,000 4.75% Senior Secured Notes due 2028 500,000 500,000 Other secured subsidiary debt (2) 4,296 4,462 Total consolidated secured debt 4,319,548 4,319,714 8.375% Senior Unsecured Notes due 2027 (3) 1,100,366 1,120,366 Other unsecured subsidiary debt — 52 Original issue discount (9,828) (10,569) Long-term debt fees (14,629) (15,396) Total debt 5,395,457 5,414,167 Less: Current portion 525 664 Total long-term debt $ 5,394,932 $ 5,413,503 (1) As of March 31, 2023, the ABL Facility had a borrowing base of $438.3 million, no outstanding borrowings and $25.0 million of outstanding letters of credit, resulting in $413.3 million of borrowing base availability. (2) Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2024 through 2045. (3) During the three months ended March 31, 2023, we repurchased $20.0 million aggregate principal amount of iHeartCommunications Inc.'s 8.375% Senior Unsecured Notes due 2027 for $15.4 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 $4.6 million. The Company’s weighted average interest rate was 7.1% and 6.9% as of March 31, 2023 and December 31, 2022, respectively. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $4.5 billion and $4.8 billion as of March 31, 2023 and December 31, 2022, 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. Surety Bonds and Letters of Credit As of March 31, 2023, the Company and its subsidiaries had outstanding surety bonds and commercial standby letters of credit of $10.0 million and $25.4 million, respectively. These surety bonds and letters of credit relate to various operational matters including insurance, lease and performance bonds as well as other items.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESThe Company and its subsidiaries are involved in certain legal proceedings arising in the ordinary course of business and, as required, have accrued an estimate of the probable costs for the resolution of those claims for which the occurrence of loss is probable and the amount can be reasonably estimated. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement strategies. It is possible, however, that future results of operations for any particular period could be materially affected by changes in the Company’s assumptions or the effectiveness of its strategies related to these proceedings. Additionally, due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company’s financial condition or results of operations. Although the Company is involved in a variety of legal proceedings in the ordinary course of business, a large portion of the Company’s litigation arises in the following contexts: commercial/contract disputes; defamation matters; employment and benefits related claims; intellectual property claims; real estate matters; governmental investigations; and tax disputes. Alien Ownership Restrictions and FCC Declaratory Ruling

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax benefit (expense) for the three months ended March 31, 2023 and the three months ended March 31, 2022 consisted of the following components: (In thousands) Three Months Ended 2023 2022 Current tax expense $ (3,485) $ (3,579) Deferred tax benefit (expense) (72,620) 23,788 Income tax benefit (expense) $ (76,105) $ 20,209

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY	3 Months Ended
STOCKHOLDER'S EQUITY	Mar. 31, 2023
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 $10.2 million and $5.5 million for the Company for the three months ended March 31, 2023 and March 31, 2022, respectively. 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 months ended March 31, 2023, the Company recognized $0.7 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 months ended March 31, 2023, the Company recognized $1.2 million in relation to these Q2 2022 Performance RSUs. As of March 31, 2023, there was $37.7 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 3.0 years. In addition, as of March 31, 2023, there were unrecognized compensation costs of $9.5 million for the Q1 2022 Performance RSUs and $10.6 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 March 31, 2023: March 31, Class A Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 122,385,200 Class B Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 21,469,919 Special Warrants 5,111,312 Total Class A Common Stock, Class B Common Stock and Special Warrants issued 148,966,431 During the three months ended March 31, 2023, stockholders converted 7,262 shares of the Class B common stock into Class A common stock. During the three months ended March 31, 2022, stockholders converted 159,692 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 mentioned in Note 6 above, on November 5, 2020, the FCC issued the 2020 Declaratory Ruling, which permits the Company to be up to 100% foreign owned. During the three months ended March 31, 2023, there were no Special Warrants exercised for shares of Class A or Class B common stock. During the three months ended March 31, 2022, stockholders exercised 11,361 Special Warrants for an equivalent number of shares of Class A common stock. During the three months ended March 31, 2022, there were no Special Warrant exercised for shares of Class B common stock. Computation of Loss per Share (In thousands, except per share data) Three Months Ended 2023 2022 NUMERATOR: Net loss attributable to the Company – common shares $ (222,260) $ (48,582) DENOMINATOR (1) : Weighted average common shares outstanding - basic 148,365 147,513 Stock options and restricted stock (2) : — — Weighted average common shares outstanding - diluted 148,365 147,513 Net loss attributable to the Company per common share: Basic $ (1.50) $ (0.33) Diluted $ (1.50) $ (0.33) (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 months ended March 31, 2023 and 2022.

SEGMENT DATA

SEGMENT DATA	3 Months Ended
SEGMENT DATA	Mar. 31, 2023
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 months ended March 31, 2023 and 2022: Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended March 31, 2023 Revenue $ 529,013 $ 223,396 $ 61,351 $ — $ (2,521) $ 811,239 Operating expenses (1) 441,961 169,277 46,007 63,091 (2,521) 717,815 Segment Adjusted EBITDA (2) $ 87,052 $ 54,119 $ 15,344 $ (63,091) $ — $ 93,424 Depreciation and amortization (108,512) Impairment charges (3,947) Other operating expense, net (221) Restructuring expenses (19,454) Share-based compensation expense (10,152) Operating loss $ (48,862) Intersegment revenues $ — $ 1,189 $ 1,332 $ — $ — $ 2,521 Capital expenditures 26,424 5,777 3,887 3,077 — 39,165 Share-based compensation expense — — — 10,152 — 10,152 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended March 31, 2022 Revenue $ 571,160 $ 214,219 $ 60,857 $ — $ (2,778) $ 843,458 Operating expenses (1) 437,253 161,711 44,470 57,584 (2,778) 698,240 Segment Adjusted EBITDA (2) $ 133,907 $ 52,508 $ 16,387 $ (57,584) $ — $ 145,218 Depreciation and amortization (114,051) Impairment charges (1,334) Other operating expense, net (870) Restructuring expenses (11,093) Share-based compensation expense (5,535) Operating income $ 12,335 Intersegment revenues $ 168 $ 1,269 $ 1,341 $ — $ — $ 2,778 Capital expenditures 12,338 5,156 1,699 3,364 — 22,557 Share-based compensation expense — — — 5,535 — 5,535 (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)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2023
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, 2022. The Company reports based on three reportable segments: ▪ 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 2023 presentation.
New Accounting Pronouncements Recently Adopted	New Accounting Pronouncements Recently 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 Company adopted this guidance during the first quarter of 2023. The adoption did not have a material impact on the Company’s financial position, results of operations or cash flows.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	3 Months Ended
BASIS OF PRESENTATION (Tables)	Mar. 31, 2023
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) March 31, December 31, Cash and cash equivalents $ 187,933 $ 336,236 Restricted cash included in: Other current assets 425 425 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 188,358 $ 336,661

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
REVENUE (Tables)	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables show revenue streams for the three months ended March 31, 2023 and 2022: (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Eliminations Consolidated Three Months Ended March 31, 2023 Revenue from contracts with customers: Broadcast Radio (1) $ 383,238 $ — $ — $ — $ 383,238 Networks (2) 107,954 — — — 107,954 Sponsorship and Events (3) 32,587 — — — 32,587 Digital, excluding Podcast (4) — 146,585 — (1,189) 145,396 Podcast (5) — 76,811 — — 76,811 Audio & Media Services (6) — — 61,351 (1,332) 60,019 Other (7) 4,924 — — — 4,924 Total 528,703 223,396 61,351 (2,521) 810,929 Revenue from leases (8) 310 — — — 310 Revenue, total $ 529,013 $ 223,396 $ 61,351 $ (2,521) $ 811,239 Three Months Ended March 31, 2022 Revenue from contracts with customers: Broadcast Radio (1) $ 415,242 $ — $ — $ — $ 415,242 Networks (2) 117,558 — — — 117,558 Sponsorship and Events (3) 33,601 — — — 33,601 Digital, excluding Podcast (4) — 145,675 — (1,269) 144,406 Podcast (5) — 68,544 — — 68,544 Audio & Media Services (6) — — 60,857 (1,341) 59,516 Other (7) 4,469 — — (168) 4,301 Total 570,870 214,219 60,857 (2,778) 843,168 Revenue from leases (8) 290 — — — 290 Revenue, total $ 571,160 $ 214,219 $ 60,857 $ (2,778) $ 843,458 (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 (In thousands) 2023 2022 Trade and barter revenues $ 45,029 $ 40,348 Trade and barter expenses 47,386 46,415
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 (In thousands) 2023 2022 Deferred revenue from contracts with customers: Beginning balance (1) $ 157,910 $ 161,114 Revenue recognized, included in beginning balance (56,133) (60,389) Additions, net of revenue recognized during period, and other 68,904 83,331 Ending balance $ 170,681 $ 184,056 (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 March 31, 2023, the future lease payments to be received by the Company are as follows: (In thousands) 2023 $ 714 2024 693 2025 509 2026 393 2027 339 Thereafter 1,251 Total $ 3,899

LEASES (Tables)

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Mar. 31, 2023
Leases [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table provides supplemental cash flow information related to leases for the periods presented: Three Months Ended March 31, (In thousands) 2023 2022 Cash paid for amounts included in measurement of operating lease liabilities $ 32,963 $ 43,265 Lease liabilities arising from obtaining right-of-use assets (1) 4,821 7,586 (1) Lease liabilities from obtaining right-of-use assets include new leases entered into during the three months ended March 31, 2023 and 2022, respectively.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 and December 31, 2022, respectively: (In thousands) March 31, December 31, Land, buildings and improvements $ 349,459 $ 340,692 Towers, transmitters and studio equipment 221,588 215,655 Computer equipment and software 629,218 617,794 Furniture and other equipment 41,900 41,924 Construction in progress 28,373 29,091 1,270,538 1,245,156 Less: accumulated depreciation 596,159 550,314 Property, plant and equipment, net $ 674,379 $ 694,842
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 March 31, 2023 and December 31, 2022, respectively: (In thousands) March 31, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer / advertiser relationships $ 1,652,455 $ (675,167) $ 1,652,455 $ (633,352) Talent and other contracts 338,900 (171,272) 338,900 (160,500) Trademarks and tradenames 335,862 (130,941) 335,862 (122,403) Other 18,443 (10,396) 18,443 (9,735) Total $ 2,345,660 $ (987,776) $ 2,345,660 $ (925,990)
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) 2024 $ 244,707 2025 213,514 2026 201,512 2027 176,171 2028 160,395
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 December 31, 2022 $ 1,462,022 $ 747,350 $ 104,031 $ 2,313,403 Foreign currency — — 33 33 Balance as of March 31, 2023 $ 1,462,022 $ 747,350 $ 104,064 $ 2,313,436

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
LONG-TERM DEBT (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Outstanding	Long-term debt outstanding for the Company as of March 31, 2023 and December 31, 2022 consisted of the following: (In thousands) March 31, 2023 December 31, 2022 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 2027 (1) — — 6.375% Senior Secured Notes due 2026 800,000 800,000 5.25% Senior Secured Notes due 2027 750,000 750,000 4.75% Senior Secured Notes due 2028 500,000 500,000 Other secured subsidiary debt (2) 4,296 4,462 Total consolidated secured debt 4,319,548 4,319,714 8.375% Senior Unsecured Notes due 2027 (3) 1,100,366 1,120,366 Other unsecured subsidiary debt — 52 Original issue discount (9,828) (10,569) Long-term debt fees (14,629) (15,396) Total debt 5,395,457 5,414,167 Less: Current portion 525 664 Total long-term debt $ 5,394,932 $ 5,413,503 (1) As of March 31, 2023, the ABL Facility had a borrowing base of $438.3 million, no outstanding borrowings and $25.0 million of outstanding letters of credit, resulting in $413.3 million of borrowing base availability. (2) Other secured subsidiary debt consists of finance lease obligations maturing at various dates from 2024 through 2045.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
INCOME TAXES (Tables)	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Benefit (Expense)	The Company’s income tax benefit (expense) for the three months ended March 31, 2023 and the three months ended March 31, 2022 consisted of the following components: (In thousands) Three Months Ended 2023 2022 Current tax expense $ (3,485) $ (3,579) Deferred tax benefit (expense) (72,620) 23,788 Income tax benefit (expense) $ (76,105) $ 20,209

STOCKHOLDER'S EQUITY (Tables)

STOCKHOLDER'S EQUITY (Tables)	3 Months Ended
STOCKHOLDER'S EQUITY (Tables)	Mar. 31, 2023
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 March 31, 2023: March 31, Class A Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 122,385,200 Class B Common Stock, par value $.001 per share, 1,000,000,000 shares authorized 21,469,919 Special Warrants 5,111,312 Total Class A Common Stock, Class B Common Stock and Special Warrants issued 148,966,431
Schedule of Computation of Income (Loss) per Share	(In thousands, except per share data) Three Months Ended 2023 2022 NUMERATOR: Net loss attributable to the Company – common shares $ (222,260) $ (48,582) DENOMINATOR (1) : Weighted average common shares outstanding - basic 148,365 147,513 Stock options and restricted stock (2) : — — Weighted average common shares outstanding - diluted 148,365 147,513 Net loss attributable to the Company per common share: Basic $ (1.50) $ (0.33) Diluted $ (1.50) $ (0.33) (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 months ended March 31, 2023 and 2022.

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	3 Months Ended
SEGMENT DATA (Tables)	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Reportable Segment Results	The following tables present the Company's segment results for the Company for the three months ended March 31, 2023 and 2022: Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended March 31, 2023 Revenue $ 529,013 $ 223,396 $ 61,351 $ — $ (2,521) $ 811,239 Operating expenses (1) 441,961 169,277 46,007 63,091 (2,521) 717,815 Segment Adjusted EBITDA (2) $ 87,052 $ 54,119 $ 15,344 $ (63,091) $ — $ 93,424 Depreciation and amortization (108,512) Impairment charges (3,947) Other operating expense, net (221) Restructuring expenses (19,454) Share-based compensation expense (10,152) Operating loss $ (48,862) Intersegment revenues $ — $ 1,189 $ 1,332 $ — $ — $ 2,521 Capital expenditures 26,424 5,777 3,887 3,077 — 39,165 Share-based compensation expense — — — 10,152 — 10,152 Segments (In thousands) Multiplatform Group Digital Audio Group Audio & Media Services Group Corporate and other reconciling items Eliminations Consolidated Three Months Ended March 31, 2022 Revenue $ 571,160 $ 214,219 $ 60,857 $ — $ (2,778) $ 843,458 Operating expenses (1) 437,253 161,711 44,470 57,584 (2,778) 698,240 Segment Adjusted EBITDA (2) $ 133,907 $ 52,508 $ 16,387 $ (57,584) $ — $ 145,218 Depreciation and amortization (114,051) Impairment charges (1,334) Other operating expense, net (870) Restructuring expenses (11,093) Share-based compensation expense (5,535) Operating income $ 12,335 Intersegment revenues $ 168 $ 1,269 $ 1,341 $ — $ — $ 2,778 Capital expenditures 12,338 5,156 1,699 3,364 — 22,557 Share-based compensation expense — — — 5,535 — 5,535 (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 ($)	1 Months Ended	12 Months Ended
BASIS OF PRESENTATION - Narrative (Details) - USD ($)	Jan. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2023	Dec. 31, 2022	Mar. 27, 2020
Short-Term Debt [Line Items]
Employer social security payments, deferred payment, CARES Act			$ 29,300,000
Refundable payroll tax credit, CARES Act						$ 12,400,000
Refundable payroll tax credit received, CARES Act	$ 7,900,000	$ 3,800,000	$ 700,000
Cash and cash equivalents				$ 187,933,000	$ 336,236,000
Total available liquidity amount				601,000,000
Asset-based Revolving Credit Facility due 2027 \| Subsidiary \| Revolving Credit Facility \| Line of Credit
Short-Term Debt [Line Items]
Debt instrument, face amount				450,000,000
Maximum borrowings provided under credit facility				438,300,000
Long-term Line of Credit				0
Letters of credit outstanding				25,000,000
Line of credit, remaining borrowing availability				$ 413,300,000

BASIS OF PRESENTATION - Reconci

BASIS OF PRESENTATION - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 187,933	$ 336,236
Restricted cash included in:
Other current assets	425	425
Total cash, cash equivalents and restricted cash in the Statement of Cash Flows	$ 188,358	$ 336,661	$ 280,108	$ 352,554

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 810,929	$ 843,168
Revenue from leases	310	290
Revenue, total	811,239	843,458
Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	383,238	415,242
Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	107,954	117,558
Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	32,587	33,601
Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	145,396	144,406
Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	76,811	68,544
Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	60,019	59,516
Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,924	4,301
Operating segments \| Multiplatform Group
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	528,703	570,870
Revenue from leases	310	290
Revenue, total	529,013	571,160
Operating segments \| Multiplatform Group \| Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	383,238	415,242
Operating segments \| Multiplatform Group \| Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	107,954	117,558
Operating segments \| Multiplatform Group \| Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	32,587	33,601
Operating segments \| Multiplatform Group \| Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Multiplatform Group \| Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Multiplatform Group \| Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Multiplatform Group \| Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,924	4,469
Operating segments \| Digital Audio Group
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	223,396	214,219
Revenue from leases	0	0
Revenue, total	223,396	214,219
Operating segments \| Digital Audio Group \| Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Digital Audio Group \| Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Digital Audio Group \| Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Digital Audio Group \| Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	146,585	145,675
Operating segments \| Digital Audio Group \| Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	76,811	68,544
Operating segments \| Digital Audio Group \| Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Digital Audio Group \| Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Audio & Media Services Group
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	61,351	60,857
Revenue from leases	0	0
Revenue, total	61,351	60,857
Operating segments \| Audio & Media Services Group \| Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Audio & Media Services Group \| Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Audio & Media Services Group \| Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Audio & Media Services Group \| Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Audio & Media Services Group \| Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Operating segments \| Audio & Media Services Group \| Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	61,351	60,857
Operating segments \| Audio & Media Services Group \| Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(2,521)	(2,778)
Revenue from leases	0	0
Revenue, total	(2,521)	(2,778)
Eliminations \| Broadcast Radio
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations \| Networks
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations \| Sponsorship and Events
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations \| Digital, excluding Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1,189)	(1,269)
Eliminations \| Podcast
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations \| Audio and Media Services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1,332)	(1,341)
Eliminations \| Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 0	$ (168)

REVENUE - Schedule of Barter an

REVENUE - Schedule of Barter and Trade Revenue and Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Trade and barter revenues	$ 810,929	$ 843,168
Trade and Barter Transactions
Disaggregation of Revenue [Line Items]
Trade and barter revenues	45,029	40,348
Trade and barter expenses	$ 47,386	$ 46,415

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Trade and barter revenues	$ 810,929	$ 843,168
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 310,400
Revenue, remaining performance obligation, period	5 years
Advertising Trade and Barter Transactions
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Trade and barter revenues	$ 8,000	$ 7,000

REVENUE - Schedule of Contract

REVENUE - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Deferred revenue from contracts with customers:
Beginning balance	$ 157,910	$ 161,114
Revenue recognized, included in beginning balance	(56,133)	(60,389)
Additions, net of revenue recognized during period, and other	68,904	83,331
Ending balance	$ 170,681	$ 184,056

REVENUE - Revenue From Leases (

REVENUE - Revenue From Leases (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2023	$ 714
2024	693
2025	509
2026	393
2027	339
Thereafter	1,251
Total	$ 3,899

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($)	3 Months Ended
LEASES - Narrative (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Non-cash impairment charge on operating lease	$ 3,900,000	$ 1,200,000
Impairment of leasehold impairment	0
Impairment charges	3,947,000	1,334,000
Impairment of leasehold improvements		100,000
Operating lease expense	$ 18,100,000	$ 23,400,000

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Cash paid for amounts included in measurement of operating lease liabilities	$ 32,963	$ 43,265
Lease liabilities arising from obtaining right-of-use assets	$ 4,821	$ 7,586

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Property, Plant And Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,270,538	$ 1,245,156
Less: accumulated depreciation	596,159	550,314
Property, plant and equipment, net	674,379	694,842
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	349,459	340,692
Towers, transmitters and studio equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	221,588	215,655
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	629,218	617,794
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	41,900	41,924
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 28,373	$ 29,091

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Total amortization expense related to definite-lived intangible assets	$ 61.8	$ 63.1

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Gross Carrying Amount and Accumulated Amortization for Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,345,660	$ 2,345,660
Accumulated Amortization	(987,776)	(925,990)
Customer / advertiser relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,652,455	1,652,455
Accumulated Amortization	(675,167)	(633,352)
Talent and other contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	338,900	338,900
Accumulated Amortization	(171,272)	(160,500)
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	335,862	335,862
Accumulated Amortization	(130,941)	(122,403)
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,443	18,443
Accumulated Amortization	$ (10,396)	$ (9,735)

PROPERTY, PLANT AND EQUIPMENT_6

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Property, Plant and Equipment [Abstract]
2024	$ 244,707
2025	213,514
2026	201,512
2027	176,171
2028	$ 160,395

PROPERTY, PLANT AND EQUIPMENT_7

PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL - Schedule Of Changes In Carrying Amount Of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill
Beginning balance	$ 2,313,403
Foreign currency	33
Ending balance	2,313,436
Multiplatform Group
Goodwill
Beginning balance	1,462,022
Foreign currency	0
Ending balance	1,462,022
Digital Audio Group
Goodwill
Beginning balance	747,350
Foreign currency	0
Ending balance	747,350
Audio & Media Services Group
Goodwill
Beginning balance	104,031
Foreign currency	33
Ending balance	$ 104,064

LONG-TERM DEBT - Schedule Of Lo

LONG-TERM DEBT - Schedule Of Long-Term Debt Outstanding (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 5,395,457,000		$ 5,414,167,000
Original issue discount	(9,828,000)		(10,569,000)
Long-term debt fees	(14,629,000)		(15,396,000)
Less: Current portion	525,000		664,000
Total long-term debt	5,394,932,000		5,413,503,000
Gain on extinguishment of debt	4,625,000	$ 0
Secured Debt
Debt Instrument [Line Items]
Long-term debt	4,319,548,000		4,319,714,000
Secured Debt \| Term Loan Facility due 2026
Debt Instrument [Line Items]
Long-term debt	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
Secured Debt \| Asset-based Revolving Credit Facility due 2027
Debt Instrument [Line Items]
Long-term debt	$ 0		0
Secured Debt \| 6.375% Senior Secured Notes due 2026
Debt Instrument [Line Items]
Stated interest rate (as a percent)	6.375%
Long-term debt	$ 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%
Long-term debt	$ 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%
Long-term debt	$ 500,000,000		500,000,000
Secured Debt \| Other secured subsidiary debt
Debt Instrument [Line Items]
Long-term debt	$ 4,296,000		4,462,000
Unsecured Debt \| 8.375% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Stated interest rate (as a percent)	8.375%
Long-term debt	$ 1,100,366,000		1,120,366,000
Repurchased debt principal amount during period	20,000,000
Payment for repurchase of debt	15,400,000
Gain on extinguishment of debt	4,600,000
Unsecured Debt \| Other unsecured subsidiary debt
Debt Instrument [Line Items]
Long-term debt	0		$ 52,000
Line of Credit \| Asset-based Revolving Credit Facility due 2027 \| Subsidiary \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings provided under credit facility	438,300,000
Outstanding borrowings under facility	0
Letters of credit outstanding	25,000,000
Line of credit, remaining borrowing availability	$ 413,300,000

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Billions	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Weighted average interest rate (as a percent)	7.10%	6.90%
Aggregate market value of debt	$ 4.5	$ 4.8

LONG-TERM DEBT - Surety Bonds a

LONG-TERM DEBT - Surety Bonds and Letters of Credit (Details) $ in Millions	Mar. 31, 2023 USD ($)
Surety bonds
Debt Instrument [Line Items]
Guarantees obligations	$ 10
Commercial standby letters of credit
Debt Instrument [Line Items]
Guarantees obligations	$ 25.4

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - Special Warrants	Nov. 05, 2020	Jul. 25, 2019
Loss Contingencies [Line Items]
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%

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Current tax expense	$ (3,485)	$ (3,579)
Deferred tax benefit (expense)	(72,620)	23,788
Income tax benefit (expense)	$ (76,105)	$ 20,209

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended
INCOME TAXES - Narrative (Details)	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective tax rates (as a percent)	(52.00%)	29.30%

STOCKHOLDER'S EQUITY - Narrativ

STOCKHOLDER'S EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended
	Sep. 30, 2022	May 09, 2022	Mar. 28, 2022	May 01, 2019	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Nov. 05, 2020	Jul. 25, 2019
Class of Stock [Line Items]
Share-based compensation expense					$ 10,152	$ 5,535
Common stock, shares authorized (in shares)					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
Common stock, par value (in dollars per share)					$ 0.001		$ 0.001
Conversion of Special Warrants to Class A and Class B Shares (in shares)					0	11,361
Class B Shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)					1,000,000,000		1,000,000,000
Common stock, par value (in dollars per share)					$ 0.001		$ 0.001
Conversion of Class B Shares to Class A Shares (in shares)					7,262	159,692
Conversion of Special Warrants to Class A and Class B Shares (in shares)					0	0
Preferred Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)					100,000,000
Common stock, par value (in dollars per share)					$ 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%
Q1 2022 Performance RSUs
Class of Stock [Line Items]
Share-based compensation expense					$ 700
Award vesting period (in months)			50 months
Unrecognized compensation cost, weighted average period (in years)	50 months
Unrecognized compensation cost					9,500
Q2 2022 Performance RSUs
Class of Stock [Line Items]
Share-based compensation expense					1,200
Unrecognized compensation cost, weighted average period (in years)	3 years	3 years
Unrecognized compensation cost					$ 10,600
Awards Vesting Based On Service Conditions
Class of Stock [Line Items]
Unrecognized compensation cost, weighted average period (in years)					3 years
Unrecognized compensation cost					$ 37,700

STOCKHOLDER'S EQUITY - Common S

STOCKHOLDER'S EQUITY - Common Stock and Special Warrants (Details) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	2,100,000,000
Common stock, shares issued (in shares)	148,966,431
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)	122,385,200	122,370,425
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)	21,469,919	21,477,181
Special Warrants
Class of Stock [Line Items]
Common stock, shares issued (in shares)	5,111,312	5,111,312

STOCKHOLDER'S EQUITY - Computat

STOCKHOLDER'S EQUITY - Computation of Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
NUMERATOR:
Net loss attributable to the Company – common shares, basic	$ (222,260)	$ (48,582)
Net loss attributable to the Company – common shares, diluted	$ (222,260)	$ (48,582)
DENOMINATOR:
Weighted average common shares outstanding - basic (in shares)	148,365	147,513
Stock options and restricted stock (in shares)	0	0
Weighted average common shares outstanding - diluted (in shares)	148,365	147,513
Net loss attributable to the Company per common share:
Basic (in dollars per share)	$ (1.50)	$ (0.33)
Diluted (in dollars per share)	$ (1.50)	$ (0.33)
Outstanding equity awards excluded from computation of diluted earnings per share (in shares)	11,700	10,000

SEGMENT DATA (Details)

SEGMENT DATA (Details) - USD ($) $ in Thousands	3 Months Ended
SEGMENT DATA (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 811,239	$ 843,458
Operating expenses	717,815	698,240
Segment Adjusted EBITDA	93,424	145,218
Depreciation and amortization	(108,512)	(114,051)
Impairment charges	(3,947)	(1,334)
Other operating expense, net	(221)	(870)
Restructuring expenses	(19,454)	(11,093)
Share-based compensation expense	(10,152)	(5,535)
Operating income (loss)	(48,862)	12,335
Capital expenditures	39,165	22,557
Operating segments \| Multiplatform Group
Segment Reporting Information [Line Items]
Revenue	529,013	571,160
Operating expenses	441,961	437,253
Segment Adjusted EBITDA	87,052	133,907
Share-based compensation expense	0	0
Capital expenditures	26,424	12,338
Operating segments \| Digital Audio Group
Segment Reporting Information [Line Items]
Revenue	223,396	214,219
Operating expenses	169,277	161,711
Segment Adjusted EBITDA	54,119	52,508
Share-based compensation expense	0	0
Capital expenditures	5,777	5,156
Operating segments \| Audio & Media Services Group
Segment Reporting Information [Line Items]
Revenue	61,351	60,857
Operating expenses	46,007	44,470
Segment Adjusted EBITDA	15,344	16,387
Share-based compensation expense	0	0
Capital expenditures	3,887	1,699
Corporate and other reconciling items
Segment Reporting Information [Line Items]
Revenue	0	0
Operating expenses	63,091	57,584
Segment Adjusted EBITDA	(63,091)	(57,584)
Share-based compensation expense	(10,152)	(5,535)
Capital expenditures	3,077	3,364
Eliminations
Segment Reporting Information [Line Items]
Revenue	(2,521)	(2,778)
Operating expenses	(2,521)	(2,778)
Segment Adjusted EBITDA	0	0
Share-based compensation expense	0	0
Capital expenditures	0	0
Intersegment revenues
Segment Reporting Information [Line Items]
Revenue	2,521	2,778
Intersegment revenues \| Multiplatform Group
Segment Reporting Information [Line Items]
Revenue	0	168
Intersegment revenues \| Digital Audio Group
Segment Reporting Information [Line Items]
Revenue	1,189	1,269
Intersegment revenues \| Audio & Media Services Group
Segment Reporting Information [Line Items]
Revenue	$ 1,332	$ 1,341