iHeartMedia Explores Sale of Podcast Business to Raise Cash

iHeartMedia Inc. is exploring the sale of part or all of its podcast business to raise cash and improve its struggling stock price. As the largest owner of radio stations in the United States, the company is seeking ways to strengthen its financial position through the divestiture of its digital audio assets.

The company has entered preliminary discussions with investment bank Moelis & Co. and several potential investors to evaluate interest. These talks are currently in the early stages, and the company has not yet reached a final agreement regarding a sale.