iHeart weighs options for podcast unit, including possible sale

IHeartMedia Inc. is exploring the sale of part or potentially all of its podcast business in an effort to raise cash and boost its struggling stock price, according to people familiar with the matter. The largest U.S. radio station owner has been in discussions with the investment bank Moelis & Co. and some potential investors on a possible sale, said the people, who asked not to be identified discussing private conversations. The talks are in preliminary stages and a deal may not materialize, the people said. kAmx? 2? 6>2:=65 DE2E6>6?E[ 2 DA@<6DA6CD@? 7@C :w62CE D2:5 E96 4@>A2?J’D A=2?D 5@ ?@E :?G@=G6 2 D2=6 @7 E96 3FD:?6DD]k^Am kAm“(9:=6 H6 5@?’E 86?6C2==J 4@>>6?E @? CF>@CD @C DA64F=2E:@?[ x 42? E6== J@F E92E H6 92G6 ?@ A=2? E@ D6== @FC A@542DE:?8 3FD:?6DD[” E96 DA@<6DA6CD@? D2:5] “xw62CE 92D 3F:=E E96 ?F>36C @?6 A@542DE AF3=:D96C :? p>6C:42[ H:E9 F?>2E4965 D42=6[ AC6>:F> E2=6?E 2?5 DEC@?8 7:?2?4:2= A6C7@C>2?46] !@542DE:?8 :D 2 4@C6 DEC2E68:4 8C@HE9 6?8:?6 7@C @FC 4@>A2?J[ 2?5 H6 4@?E:?F6 E@ :?G6DE :? 6IA2?5:?8 :ED C6249 2?5 A@E6?E:2=[ :?4=F5:?8 E9C@F89 G:56@ A@542DE:?8]”k^Am kAmp C6AC6D6?E2E:G6 7@C |@6=:D 564=:?65 E@ 4@>>6?E]k^Am kAm%96 A@542DE F?:E’D A6C7@C>2?46 H2D @?6 @7 E96 76H D:=G6C =:?:?8D :? E96 4@>A2?J’D 62C?:?8D E9:D H66<] ~? |@?52J[ :w62CE C6A@CE65 E92E 25;FDE65 62C?:?8D 367@C6 :?E6C6DE[ E2I6D[ 56AC64:2E:@? 2?5 2>@CE:K2E:@? 7@C E96 E9:C5 BF2CE6C 76== `fT 7C@> 2 J62C 62C=:6C 2?5 >:DD65 (2== $EC66E 7@C642DED] %96 4@>A2?J 2=D@ AC@G:565 2? @FE=@@< 7@C E96 7@FCE9 BF2CE6C H6== 36=@H H92E 2?2=JDED H6C6 6IA64E:?8]k^Am kAmxw62CE 92D DECF88=65 H:E9 :ED 563E =@25 7@C J62CD] xE 7:=65 7@C 32?6C8:?8 =2E6C =2C86=J @H?65 3J 4C65:E@CD] %96 4@>A2?J DE:== 92D =@?8\E6C> 3@CC@H:?8D @7 Sc]h 3:==:@? 2?5 E96 D92C6D ?@H EC256 2E 2C@F?5 ee 46?ED]k^Am kAmt2C=:6C E9:D J62C[ :w62CE 925 366? :? 5:D4FDD:@?D 23@FE 2 A@DD:3=6 D2=6 E@ $:C:FD )| w@=5:?8D x?4][ q=@@>36C8 C6A@CE65[ 3FE E96 ?68@E:2E:@?D 5:5?’E J:6=5 2? 28C66>6?E]k^Am kAm%96 A@542DE F?:E C6A@CE65 C6G6?F6 @7 S`fc >:==:@? 7@C E96 E9:C5 BF2CE6C[ FA acT 4@>A2C65 E@ E96 AC6G:@FD J62C]k^Am kAmxw62CE !C6D:56?E #:49 qC6DD=6C 2??@F?465 A=2?D E@ 6DE23=:D9 A@542DE:?8 2D 2 D6A2C2E6 C6A@CE:?8 D68>6?E ?6IE J62C[ “H9:49 H:== AC@G:56 8C62E6C :?D:89E :?E@ :ED 7:?2?4:2= A6C7@C>2?46 2?5 >2<6 :E 62D:6C E@ 7F==J G2=F6 2== 7@FC @7 @FC D68>6?ED 2?5 @FC 6?E:C6 4@>A2?J]”k^Am kAmx? 255:E:@? E@ A@542DED[ :w62CE @A6C2E6D C25:@ DE2E:@?D[ 5:DEC:3FE6D E96:C 4@?E6?E @?=:?6 2?5 D6==D 25G6CE:D:?8 E9C@F89 E96 z2EK |65:2 vC@FA] xw62CE|65:2 :D 2 DEC2E68:4 A2CE?6C @7 q=@@>36C8 |65:2]k^Am kAm~? E96 62C?:?8D 42==[ qC6DD=6C 6>A92D:K65 E92E E96 492?86 :D 6IA64E65 E@ AC@G:56 :?G6DE@CD H:E9 :?4C62D65 :?D:89E @? 2 3FD:?6DD E92E C6AC6D6?E65 `fT @7 E@E2= C6G6?F6 :? E96 BF2CE6C]k^Am kAmxw62CE’D H63D:E6 D2JD :E’D E96 }@] ` A@542DE AF3=:D96C 8=@32==J 2?5 :? E96 &]$][ H96C6 E96 3FD:?6DD 2EEC24ED bd]b >:==:@? >@?E9=J =:DE6?6CD] p>@?8 :ED >@DE\=:DE6?65\E@ D9@HD 2C6 $EF77 *@F $9@F=5 z?@H[ {2D rF=EFC:DE2D 2?5 s62C r96=D62]k^Am kAmW(:E9 2DD:DE2?46 7C@> pD9=6J r2C>2?]Xk^Am