iHeartMedia Investigation Notice: Levi & Korsinsky Notifies Investors of Pending Investigation Into iHeartMedia, Inc. (IHRT)
iHeartMedia Investigation Notice: Levi & Korsinsky Notifies Investors of Pending Investigation Into iHeartMedia, Inc. (IHRT)
PR Newswire
NEW YORK, Nov. 10, 2026
Twice in 2026, iHeartMedia reaffirmed its approximately $800 million full-year Adjusted EBITDA target. However, on November 9, 2026, the Company slashed that forecast to $550 million–$600 million following disappointing third-quarter results. On November 10, 2026, iHeartMedia's stock plunged more than 60% intraday. Levi & Korsinsky is investigating potential securities law violations on behalf of IHRT shareholders who suffered losses.
NEW YORK, Nov. 10, 2026 /PRNewswire/ -- Twice this year, on May 11 and August 10, 2026, iHeartMedia, Inc. (NASDAQ: IHRT) reaffirmed its full-year Adjusted EBITDA guidance of approximately $800 million. However, following the Company's third-quarter 2026 report, IHRT shares plunged more than 60% in after-hours and subsequent trading. If you bought IHRT and are now holding a loss, you have legal rights, and now is the time to protect them. Shareholders who lost money are encouraged to find out whether they can recover their IHRT losses or to contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
Management repeatedly reaffirmed the $800 million full-year Adjusted EBITDA target. On May 11, 2026, the Company's first-quarter earnings release quoted management stating: "today we are reaffirming our Full Year Adjusted EBITDA guide of $800 million and our Free Cash Flow guide of $200 million." At the time, first-quarter Adjusted EBITDA was only $92.6 million, leaving approximately $707.4 million to be generated over the remaining three quarters. Then, on August 10, 2026, President and COO Richard J. Bressler again told investors during the second-quarter earnings call: "we are reaffirming our full year adjusted EBITDA guidance of $800 million."
The new guidance range represented a $200 million to $250 million reduction from the previously reaffirmed $800 million target, or approximately 25% to 31% in a single announcement. In lowering its outlook, management identified four primary factors: lower-than-expected political advertising revenue, particularly in radio; larger advertisers delaying campaigns until after the election; a faster-than-anticipated shift toward programmatic audio advertising; and a more challenging macroeconomic environment that pressured advertisers' budgets.
Lost money on IHRT? Submit your shareholder loss details today , or call (212) 363-7500.
Levi & Korsinsky, LLP | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com
Frequently Asked Questions About the IHRT Investigation
Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether iHeartMedia made materially false or misleading statements about its full-year 2026 adjusted EBITDA guidance of approximately $800 million, which the Company reaffirmed on May 11 and August 10, 2026. The stock price declined sharply after the Company reported third-quarter 2026 results and reduced that guidance to $550 million to $600 million.
Q: When did iHeartMedia allegedly mislead investors? A: The investigation concerns statements made before the corrective disclosure that allegedly caused investors to purchase securities at inflated prices.
Q: Who is eligible to participate in the IHRT investigation? A: Investors who purchased IHRT stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: What do IHRT investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible to participate in the investigation.
Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my IHRT shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought IHRT and sold at a loss may still participate in the investigation.
Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.
Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. If you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
SOURCE Levi & Korsinsky, LLP
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