IHeartMedia

iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008. As a result of the 2008 buyout, Clear Channel Communications, Inc. became a wholly owned subsidiary of CC Media Holdings, Inc. On September 16, 2014, CC Media Holdings, Inc. was rebranded iHeartMedia, Inc., and Clear Channel Communications, Inc., became iHeartCommunications, Inc. iHeartMedia, Inc. specializes in radio broadcasting, podcasting, digital and live events through division iHeartMedia (sans "Inc." suffix; formerly Clear Channel Media and Entertainment, Clear Channel Radio, et al.) and subsidiary iHeartMedia and Entertainment, Inc. (formerly Clear Channel Broadcasting, Inc.); the company owns more than 870 full-power AM and FM radio stations in the U.S., making it the country's largest owner of radio stations. The company has also been involved in internet radio and podcasting via the digital platform iHeartRadio (from which the company derives its current name). In the past, the company was also involved in live events and out-of-home advertising. The company spun off these businesses in 2005 and 2019 respectively, as the present-day Live Nation Entertainment and Clear Channel Outdoor.