iHeartMedia has completed its restructuring process, and reduced its debt from $16.1 billion to $5.75 billion.

In conjunction with the completion of the restructuring, iHeartMedia and Clear Channel Outdoor Holdings have fully separated, forming two independently-traded companies. Clear Channel Outdoor Holdings shares will continue to be traded on the New York Stock Exchange, under the ticker symbol “CCO.”

“We are pleased that iHeartMedia now has a capital structure that matches our exciting operating business. The focused dedication of our employees and the unwavering support of our new owners and advertising partners enabled iHeartMedia to seamlessly complete the restructuring process and reach this final milestone,” said Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia, Inc. “iHeartMedia enters this next phase of growth as a multi-platform audio company with a vastly improved financial profile. We are well-positioned to continue to innovate and offer cutting-edge technologies, products and services to our audiences and advertisers.”

Pittman continued: “As the only major multi-platform audio company, iHeartMedia’s reach extends across more than 250 platforms and 2,000 different connected devices, from smart speakers to tablets, wearables, gaming consoles and much more. Over the past year, we have further cemented our position as the number one commercial podcaster globally—by a strong margin—through building new capabilities and content, including the Ron Burgundy Podcast, season two of the true crime podcast Atlanta Monster and many more, including Stuff You Should Know, the first podcast ever to surpass one billion downloads. We continued to invest in key areas of the business with the acquisitions of Stuff Media, LLC—which further solidified our leading podcasting position—as well as technology companies like Jelli, Inc., which is the advertising technology platform that brings to life our SmartAudio data and analytics offerings. We continue to technologically transform our offerings for both consumers, with whom we are interacting more broadly across platforms, and advertisers, to whom we are offering data and analytics solutions previously available only from key digital players. In addition, we have continued to host our renowned and highly-anticipated live events, from the iHeartRadio Music Awards to iHeartRadio ALTer Ego. This is a very exciting time for audio, and iHeartMedia will continue to break new ground and unlock new opportunities across all platforms to reach audiences everywhere.”

As previously announced, pursuant to the Plan, Pittman continues to serve as Chairman and Chief Executive Officer of iHeartMedia, Inc., and Rich Bressler continues to serve as President, Chief Operating Officer and Chief Financial Officer of iHeartMedia, Inc. In addition, a new Board of Directors has been appointed, including Pittman, Bressler, and the following members: Jay Rasulo, Gary Barber, Brad Gerstner, Sean Mahoney and Kamakshi Sivaramakrishnan. Upon iHeartMedia’s emergence, the new Board of Directors has assumed its responsibilities.

Kirkland & Ellis LLP served as legal counsel to iHeartMedia, Moelis & Company served as the Company’s investment banker, and Alvarez & Marsal served as the company’s financial advisor.

Leslie Cohea

Sandbox Entertainment has promoted Leslie Cohea to the role of General Manager. In this new position, Cohea will oversee strategy, touring, finance, and operations for all Sandbox clients, including Faith Hill, Little Big Town, Kacey Musgraves, Dan+Shay, Kelsea Ballerini, Midland, and more.

Cohea joined Sandbox in 2015 as the Head of Touring, where she managed all aspects of touring for the company, including ticketing, routing and budgeting. In her time at Sandbox, Cohea has been at helm of launching Tim McGraw and Faith Hill’s Soul2Soul World Tour and a driving force in developing Little Big Town’s sold-out, year-long Ryman Auditorium Residency. She has overseen multiple headlining tours, including Kacey Musgraves’ international, sold-out Oh What A World Tour, Dan+Shay’s sold-out DAN+SHAY THE TOUR, and Kelsea Ballerini’s first ever headlining arena tour.

Prior to Sandbox, Cohea spent nearly a decade at AEG Live/The Messina Group working in touring and concert promotion, as well as producing tours and shows nationally for artists ranging from Ed Sheeran, to Dave Matthews, to The Eagles.

“Having Leslie’s expertise over the last four years has been vital to the growth of Sandbox and our clients. She’s the salt to my pepper, the bread to my butter, and the Tom to my Ford.” says Sandbox President and CEO Jason Owen.

Cohea adds, “I feel incredibly grateful to get to work with such an amazing group of people at Sandbox. Jason is a genius and continues to inspire each of us daily. It’s a dream come true to work at this company, and with this roster of such talented artists. I am very excited and honored to continue to support the operations here in bigger ways.”

Twitter debuted an expanded lineup of new live and on-demand premium video programming at the Digital Content NewFronts, offering advertisers new opportunities to connect with audiences throughout the world’s most influential cultural moments. Among the new offerings are a concert and festival series from Live Nation which will feature 10 concerts in 10 weeks. Live Nation will also capture moments from festivals like Lollapalooza, Bonnaroo, and more to share with fans. New collaborations and renewals were announced across news, sports, gaming and entertainment, reflecting the conversations and interests people are passionate about on Twitter.

“When you collaborate with the top publishers in the world, you can develop incredibly innovative ways to elevate premium content and bring new dimensions to the conversations that are already happening on Twitter,” said Twitter Global VP and Head of Content Partnerships Kay Madati. “Together with our partners, we developed this new slate of programming specifically for our audiences, and designed the content to fuel even more robust conversation on Twitter.”

Among the new premium content:

• Live Nation: This fall, Live Nation is launching a new concert and festival series exclusively on Twitter. The series will feature 10 concerts, in 10 weeks, with 10 world class artists, bringing the power of live to millions of music fans. Live Nation will also capture must-see moments from iconic festivals including Governors Ball, Lollapalooza, Bonnaroo Arts & Music Festival, and Electric Daisy Carnival, among others, and share recaps from festival Twitter handles for fans to relive the magic long after the experience ends. These live events and related content give brands the opportunity to meaningfully engage with fans when they’re truly listening.
• NFL: As part of a multiyear partnership extension with Twitter, the NFL will continue to program a full slate of video highlights, breaking news and analysis, and will also include new live shows anchored around NFL tentpole events. Beginning with Kickoff and running through the NFL Draft, these live shows will be produced specifically for a Twitter audience, providing fans with unique access to some of the biggest events in sports. Additionally, the NFL will deliver more weekly content with new video clip series and content formats such as Q&As, fan polls and Twitter moments to ensure users never miss a minute of the action.
• The Wall Street Journal: The Wall Street Journal is launching WSJ What’s Now, a new franchise that will bring enterprise reporting, business analysis and markets insights to Twitter in an original video format. From sunrise to primetime, this new franchise will reach an influential audience throughout the day, sharing exclusive stories and expert-level context at the speed of Twitter. As part of WSJ What’s Now, The Wall Street Journal will live stream its premium conferences and events – including the Future of Everything and WSJ Tech D.Live – on Twitter, giving people an unprecedented opportunity to watch news unfold through panels and interviews with industry titans, innovative founders, investors and ambitious minds.
• Viacom: For the first time ever, the MTV VMA Stan Cam gives fans the power to create their livestream, their way, all on Twitter. Using a series of short-form livestreams on Twitter, MTV will ask fans to decide which audience member they’d like to watch on a live reaction cam or follow backstage and behind-the-scenes during the show’s biggest moments. MTV will also ask Twitter fans to send questions to talent for real-time feedback in-show. Viacom will also be bringing back red carpet coverage of BET, CMT and MTV’s biggest tentpole events.