From ALL ACCESS

iHEARTMEDIA has revamped the organizational structure of its Markets Group that it says will put markets into three divisions and add a fourth covering multiple markets and will create hubs to consolidate programming, marketing, digital, podcasts, sales and sales support resources. The company characterizes the move as “moderniz(ing) the company to take advantage of the significant investments it has made in technology and artificial intelligence (AI) and its unique scale and leadership position in the audio marketplace.” The move, according to a memo sent to employees, will result in “employee dislocation,” including layoffs.

The divisions include the Region Division, with the largest markets like NEW YORK and LOS ANGELES, headed by Presidents KEVIN LEGRETT and SCOTT HOPECK; the Metro Division, large markets that are not regional hubs, led by Presidents TOM MCCONNELL, TONY COLES, and LYNDA BYRD; the Community Division, smaller markets grouped together when geographically close and “culturally similar,” headed by Presidents SHOSH ABROMOVICH, NICK GNAU, and DAN LANKFORD; and Multi-Market Partnerships Division, headed by President JULIE DONOHUE. GREG ASHLOCK continues to lead the iHEARTMEDIA Markets Group as President, while the Integrated Revenue Strategies group will be merged into the Markets Group and HARTLEY ADKINS will become COO of the group.

The consolidation will create “Centers of Excellence” using artificial intelligence and other technology into hubs that the company claims will “provide a better experience for listeners and business partners and a more efficient process for all of its employees.”
 
“iHEART is the rare example of a major traditional media company that has made the successful transformation into a 21st century media company — one with unparalleled scale, reaching 91% of Americans each month with our broadcast assets alone, more than any other media company,” said Chairman/CEO BOB PITTMAN.  “We are now using our considerable investments in technology to modernize our operations and infrastructure, further setting us apart from traditional media companies; improving our services to our consumers and advertising partners; and enhancing the work environment for our employees.”

In a memo sent to employees, PITTMAN and RICH BRESSLER said that “there will be some employee dislocation — some by geography and some by function — which is the unfortunate price we pay to modernize the company.  We have had to make some tough decisions, and in the process some employees have been affected.  Please know we were thoughtful in this process and have provided enhanced severance benefits as well as outplacement assistance for any impacted employees, and we want to thank them for the valuable contributions they have made.”

For more on this story go to: https://www.allaccess.com/net-news/archive/story/192864/iheartmedia-revamps-markets-group-structure-with-t