IHeartMedia Cuts Jobs Amid Cost Reduction

iHeartMedia has initiated significant layoffs across its radio stations as part of a $200 million cost-reduction plan, impacting several high-profile talents including Doug Goudie from WGY and Chris Little, News Director at KFI 640 in Los Angeles. Goudie and other local hosts are out of work due to declining advertising revenues and the company's pivot towards leveraging technology such as artificial intelligence to streamline operations. At KFI, 17 of the 25-member news team were let go, with Little expressing the emotional toll of the cuts in a social media post. The company is reportedly facing a substantial debt burden of approximately $5.21 billion. In a related move, Katie Ewell has been promoted to oversee 11 radio stations in the Delmarva Peninsula, indicating a shift in leadership amid the restructuring efforts. iHeartMedia's strategy aims to eliminate redundancies and improve efficiency as it adapts to the changing media landscape.