iHM Retain Bob Pittman, Richard Bressler

iHeartMedia has secured its top executives through 2029, with Chairman and CEO Bob Pittman and President/COO Rich Bressler signing amended contracts, as confirmed in an SEC filing. The new agreements replace prior terms, setting a December 31, 2029, expiration unless extended by October 1, 2029. Other provisions remain unchanged unless specified.

Bob Pittman

Pittman’s amendment outlines retirement terms and aircraft use. At 71, Pittman can initiate a “Retirement Termination” on or after December 31, 2029, with 60 days’ notice, receiving unpaid base salary, 2029 bonuses, and benefits. 

Equity awards granted six months prior will vest or remain performance-eligible. He’s required to use corporate aircraft for certain non-business travel for security reasons.

Bressler’s amendment mirrors Pittman’s retirement terms but adds specific clauses. 

Richard Bressler

His personal aircraft use is capped at $250,000 annually, with excess costs reimbursed per company and SEC policies. An 18-month post-employment non-solicitation clause applies to clients, employees, and vendors. His “Good Reason” resignation clause includes a 30-day notice, 15-business-day cure period, and 10-day post-cure exit window. 

If Bressler exits under these terms, he’ll receive two years’ base salary, target bonuses, 18 months of COBRA reimbursements, and a prorated performance bonus, contingent on signing a release within 60 days.

These updates follow iHeartMedia’s March 2022 contract amendments. The company reported Q2 2025 revenue of $937 million, up 0.5% year-over-year (1.5% excluding political), with digital audio up 13.4% to $324 million, driven by 28.5% podcasting growth and 4.7% non-podcast digital growth.