On March 20, iHeartMedia shares finished at $2.49 per share, erasing all gains seen since mid-September 2025. Then came an uptick in value, punctuated by two media reports suggesting that company executives met with those of SiriusXM to discuss what a merger would look like.
Since then, “IHRT” shares are on fire, and are at their highest valuation in more than three years.
As of 1:55pm Eastern, Nasdaq-traded iHeartMedia shares were priced at $6.39, a 4% rise from Monday’s closing price.
With the company’s Q1 2026 earnings report due May 11, investors seem pleased that some sort of discussions between iHeartMedia and SiriusXM — two of the biggest podcast producers and distributors — have at the very least transpired.
That’s one big reason why “IHRT” is trading at a price not seen since February 2023. And, that’s significant for iHeartMedia’s roster of institutional investors, led by Allianz Asset Management GmbH (at 39.49% interest), followed by the Ashley Tabor-King aligned Global Media & Entertainment Investments Ltd. (at 31.89% interest).
Other key institutional investors in iHeartMedia include Blackrock, The Vanguard Group, and Charles Schwab Investment Management, in addition to Oak Hill Advisors.
All will be watching closely come Monday to see if iHeartMedia meets or exceeds analysts’ forecasts on its earnings per share. The company has missed EPS forecasts in each of the last four quarters.
As of today, four analysts have chimed in with respect to revenue estimates, putting the consensus value at $871.5 million. If that holds, it would reflect 8% year-over-year revenue growth.
On the company’s Q4 and full-year 2025 earnings call, iHeartMedia COO Rich Bressler offered a peek at what the first quarter of 2026 will bring.
- Q1 adjusted EBITDA of approximately $100 with high-single-digit growth for consolidated revenue
- Digital revenue is pacing up in the mid-teens
- Podcast revenue is growing in low 20% range
- Multiplatform segment revenue is trending up in the mid-single-digit range
- Audio & Media Services Group dollars are trending with high single-digit growth
Whether or not those goals are met or exceeded may be secondary, however, to any discussion involving SiriusXM. It’s up to CEO Bob Pittman to decide whether or not to share any details or ask analysts on the call to not bring the topic up during questioning.
If the latter is the case, it could prove interesting to see where “IHRT” goes come May 12. For now, investors can relish in a growth spur that is three years in the making.
