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iHeartMedia – June M.O.R. Reports $305.8 Million In Revenue, $77.1 Million in Operating Income

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August 15, 2018 – iHeartMedia filed with the U.S. Bankruptcy Court a monthly operating report for June 2018 [Docket No. 1262]. For the month, the Company reported a net loss of $119.6 million on $305.8 million in revenue, impacted significantly by a tax charge of $153.9 million. Operating income for the month was $77.1 million, reflecting operating expenses of $228.8 million, comprised principally of (i) $87.5 million in direct operating expenses, (ii) $107.8 million in selling, general and administrative expense and (iii) $11.7 million in depreciation and amortization. Operating cash flow for the period was $42.4 million; although total cash flow was negative $252.6 million, reflecting the repayment of the Debtor’s existing ABL credit facility partially through the use of $269.0 million of cash on hand.

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The post iHeartMedia – June M.O.R. Reports $305.8 Million In Revenue, $77.1 Million in Operating Income appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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