14 January 2020 – America’s largest owner of radio stations is reportedly undergoing massive layoffs nationwide.
iHeartMedia announced “a new organizational structure for its Markets Group as it modernizes the company to take advantage of the significant investments it has made in technology and artificial intelligence (AI) and its unique scale and leadership position in the audio marketplace,” the company announced Tuesday. “The new structure will enable the company to maximize the performance of each of its markets – and the company overall — with its unique scale and multiple platforms; leadership in audio; and its expertise in consumers, monetization and data, and enhance iHeartMedia’s position as the number one audio company in America.”
Up to 1,200 staff are rumoured to have been released today. More details as the become available.