iHeartMedia, Inc.
Company History
iHeartMedia History: Founding, Growth & Key Milestones
Founded 1972 in San Antonio, United States
When was iHeartMedia founded?
iHeartMedia was founded in 1972 in San Antonio, United States by Lowry Mays and Red McCombs, making it 54 years old.
- Founded
- 1972
- Founding place
- San Antonio, United States
- Founders
- Lowry Mays and Red McCombs
- Headquarters today
- San Antonio, Texas
- Milestones documented
- 12 (1972–2026)
- Current CEO
- Bob Pittman
- Acquisitions
- 8
| Year | Event |
|---|---|
| 1972 | Clear Channel founded |
| 1975 | WOAI acquired |
| 1984 | IPO |
| 1996 | Telecommunications Act |
| 2008 | Leveraged buyout |
| 2011 | Bob Pittman becomes CEO |
| 2014 | Renamed iHeartMedia |
| 2018 | Chapter 11 filing |
| 2019 | Emergence and Nasdaq relisting |
| 2021 | Triton Digital acquired |
| 2025 | Netflix video podcast deal |
| 2026 | Breakfast Club on Netflix, ABL extension |
- Where was iHeartMedia founded?
- iHeartMedia was founded in San Antonio, United States in 1972. wikidata.org
- Who founded iHeartMedia?
- iHeartMedia was founded by Lowry Mays and Red McCombs.
- When did iHeartMedia start?
- iHeartMedia was founded in 1972.
- How old is iHeartMedia?
- iHeartMedia is 54 years old as of 2026.
Founding Story
In 1972, San Antonio investment banker Lowry Mays and car dealer B.J. "Red" McCombs bought a struggling FM station, KEEZ-FM. Neither had worked in broadcasting. They treated radio as a business of selling local audiences to advertisers. They named the company Clear Channel and bought more stations, notably WOAI in 1975. The company went public in 1984. After the Telecommunications Act of 1996 removed national ownership caps, it grew to about 1,200 stations through deals such as Jacor and AMFM.
Founders
Lowry Mays
Lowry Mays co-founded Clear Channel Communications in 1972 when he and Red McCombs bought KEEZ-FM in San Antonio. He ran the company as a financial operation: cut costs, centralize programming and buy more stations. After the 1996 Telecommunications Act, he used that approach to grow Clear Channel into the largest U.S. radio group, with about 1,200 stations, and also into outdoor advertising and live events. His son Mark Mays was CEO from 2004 to 2010. The family stayed involved through the 2008 buyout by Bain Capital and Thomas H. Lee Partners. Lowry Mays was born in 1935. Education: Harvard Business School; Harvard University; Texas A&M University.
Red McCombs
B.J. "Red" McCombs built a large car dealership business in San Antonio and partnered with Lowry Mays in 1972 to buy the radio station that became Clear Channel's first property. He brought capital and deal-making experience while Mays ran operations. McCombs was also known for owning professional sports teams and for his donations to the University of Texas, whose McCombs School of Business is named for him. He died in February 2023. Red McCombs was born in 1927. Education: University of Texas School of Law.
Key Milestones
Clear Channel founded
Lowry Mays and Red McCombs bought KEEZ-FM in San Antonio, the start of what became Clear Channel Communications.
Source: en.wikipedia.orgWOAI acquired
Clear Channel bought WOAI in San Antonio, a 50,000-watt clear-channel AM station whose signal type gave the company its name.
Source: en.wikipedia.orgTelecommunications Act
Deregulation removed national station ownership caps, setting off Clear Channel's consolidation to about 1,200 stations by the early 2000s.
Source: en.wikipedia.orgLeveraged buyout
Bain Capital and Thomas H. Lee Partners took the company private, leaving it with more than $20 billion of debt.
Source: en.wikipedia.orgBob Pittman becomes CEO
Former MTV co-founder Bob Pittman became CEO and accelerated the digital strategy around iHeartRadio.
Source: en.wikipedia.orgRenamed iHeartMedia
Clear Channel Communications changed its name to iHeartMedia, Inc.
Source: en.wikipedia.orgChapter 11 filing
iHeartMedia filed for Chapter 11 in March 2018 to restructure more than $16 billion of debt; it bought Stuff Media (HowStuffWorks podcasts) for $55 million the same year.
Source: en.wikipedia.orgEmergence and Nasdaq relisting
The company emerged from bankruptcy in May 2019 with about $10 billion less debt, separated Clear Channel Outdoor, and listed on Nasdaq as IHRT.
Source: en.wikipedia.orgTriton Digital acquired
iHeartMedia bought audio ad-tech and measurement firm Triton Digital for $230 million.
Source: en.wikipedia.orgNetflix video podcast deal
In December 2025 iHeartMedia and Netflix announced an exclusive video podcast partnership for top iHeartPodcasts shows.
Source: investors.iheartmedia.comBreakfast Club on Netflix, ABL extension
The partnership expanded in 2026 with a daily live stream of The Breakfast Club; in August 2026 the company extended its $450 million ABL facility to 2029.
Source: investors.iheartmedia.comMajor Acquisitions
WOAI
1975Bought WOAI, a San Antonio 50,000-watt clear-channel AM station; the signal class inspired the Clear Channel name.
WPMI
1988iHeartMedia acquired WPMI in 1988.
KITN-TV
1993iHeartMedia acquired KITN-TV in 1993.
WPRI-TV
1996iHeartMedia acquired WPRI-TV in 1996.
Jacor Communications
1999Merger with Jacor Communications during the post-1996 radio consolidation, adding hundreds of stations and Premiere Radio Networks.
AMFM Inc.
2000Merger that made Clear Channel the largest U.S. radio owner, with about 1,200 stations.
Stuff Media
2018Bought the HowStuffWorks podcast network (Stuff You Should Know) for $55 million, anchoring iHeartPodcasts.
Triton Digital
2021Bought audio ad-tech and measurement company Triton Digital from E.W. Scripps for $230 million.
Keep researching iHeartMedia
iHeartMedia Company History FAQ
What are the historic milestones in the evolution of iHeartMedia from 1972 to today?
Key milestones include founding in San Antonio (1972), IPO (1984), post-1996 deregulation consolidation (AMFM/Jacor mergers), 2008 private equity buyout, rebranding to iHeartMedia (2014), Chapter 11 debt restructuring and NASDAQ listing (2019), and acquiring Triton Digital to lead digital audio (2021).
Why and when did Clear Channel Communications rebrand to iHeartMedia in 2014?
In September 2014, Bob Pittman announced the official corporate rebrand from Clear Channel Communications to iHeartMedia, Inc. to reflect the company's transformation from a traditional radio broadcaster into a multiplatform digital audio and consumer entertainment brand.
How did iHeartMedia navigate and emerge from Chapter 11 restructuring in 2018 to 2019?
In March 2018, iHeartMedia filed for Chapter 11 bankruptcy to restructure $16 billion in legacy private equity debt. In May 2019, the company emerged as a lean, profitable enterprise, shedding over $10 billion in debt, separating its outdoor billboard business, and relisting on NASDAQ.
How did the spin-off of Clear Channel Outdoor Holdings reshape iHeartMedia in 2019?
As part of its 2019 plan of reorganization, iHeartMedia completed the full spin-off of its billboard advertising subsidiary Clear Channel Outdoor Holdings (CCO), allowing iHeartMedia to operate as a 100% focused, pure-play audio media and entertainment company.
When did the inaugural iHeartRadio Music Festival take place in Las Vegas?
In September 2011, iHeartMedia launched the inaugural iHeartRadio Music Festival at the MGM Grand Garden Arena in Las Vegas, featuring a lineup (Lady Gaga, Jay-Z, Coldplay, Kenny Chesney) that became the biggest multi-genre music event in radio history.
How did iHeartMedia pioneer virtual entertainment in the Metaverse and Web3?
In 2022, iHeartMedia launched 'iHeartLand' in Roblox and Fortnite, creating an immersive virtual concert and gaming world where millions of young users attend virtual album release parties and interact with top music artists.
How does iHeartMedia provide critical public lifeline services during natural disasters?
Through its 860 broadcast stations, iHeartMedia acts as an indispensable first-responder emergency broadcast lifeline during hurricanes, tornadoes, wildfires, and floods, maintaining broadcast signals with backup generators when cellular data networks fail.
What is iHeartMedia's strategic vision for the future of audio entertainment?
iHeartMedia envisions an interconnected audio future where AI-enhanced ad-tech, companion broadcast radio, immersive live music events, and ubiquitous digital streaming deliver the most compelling, culturally relevant audio experiences to consumers everywhere they listen.
How did iHeartMedia start?
iHeartMedia was founded in 1972 as Clear Channel Communications by L. Lowry Mays and Red McCombs in San Antonio, Texas. They bought a single struggling radio station (KEEZ-FM). Following the highly controversial Telecommunications Act of 1996 (which removed ownership limits), Clear Channel aggressively bought hundreds of stations, consolidating the entire American radio industry.
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