iHeartMedia Layoffs Continue

Due to Covid-19 adjustments, iHeartMedia is planning to trim $250 Million in company costs this upcoming fiscal year. Radio Hosts such as Steve LaTart (103.1 KDWB’s), Joe Riley (610 WTVN) and others have been laid off due to financial difficulties faced by iHeartMedia. 

During this time, many radio stations have been struggling with an advertising dip, causing loss of revenue from various sponsors and agreements. iHeartMedia is making major adjustments within their infrastructure to be able to survive in this difficult climate. 

iHeartMedia reported a 47% year-over-year decline during their second quarter report, with their Q3 report reportedly coming in this month.