.

Reve-News: iHeart, Beasley, Saga

iHeartMedia has reported Q3 2019 revenues of $948.3 million, up 3.0% year-over-year. Excluding political revenue, the increase equated to 4.9% from the same period last year, including a digital revenue increase of 33.4%. Operating income was down 24.6% with an adjusted EBITDA of $274.7 million, up 0.3% from last year. The company emerged from Chapter 11 in May (CAT 5/1), finalizing the split between iHeartMedia and Clear Channel Outdoor Holdings into separate publically traded companies (CAT 1/22). See the complete Q3 2019 and YTD financial results here.

Beasley reported Q3 2019 net revenues of $66.1 million, up 1.5% from the same period last year. The results presented include operations of WXTU/Philadelphia, which Beasley acquired from Entercom (CAT 7/19/18). Operating income was $9.4 million in the third quarter and includes an interest expense of $4.4 million, reflecting additional borrowings related to the WXTU purchase and a higher overall cost of borrowings. More here.

Saga has reported Q3 2019 net income of $3.3 million, down $361,000 year-over-year. Net revenue remained relatively flat, dropping 0.4% to $31.3 million from last year's $31.7 million. Station operating expense increased to $23.6 million, and operating income decreased to $4.8 million from the same period last year. Free cash flow decreased to $4.5 million for the quarter, due in part to a $385,000 decrease due to a reduction in the company's deferred tax provision. More here.