BRIEF-Iheartmedia Inc Files For Non-Timely 10-K
April 4 (Reuters) - iHeartMedia Inc:
* IHEARTMEDIA INC FILES FOR NON-TIMELY 10-K - SEC FILING
* IHEARTMEDIA - UNABLE TO FILE FORM 10-K FOR FISCAL YEAR ENDED DEC. 31, 2017 WITHIN PRESCRIBED PERIOD
* IHEARTMEDIA - UNABLE TO FILE FORM 10-K DUE TO DELAY IN COMPLETION OF FINANCIAL STATEMENTS OF CLEAR MEDIA LIMITED, AN INDIRECT UNIT
* IHEARTMEDIA SAYS "UNDERSTANDS THAT SEVERAL EMPLOYEES OF CLEAR MEDIA LTD ARE SUBJECT TO AN ONGOING POLICE INVESTIGATION FOR MISAPPROPRIATION OF FUNDS"
* CLEAR MEDIA CONDUCTING SPECIAL INVESTIGATION BY FORENSIC ACCOUNTANTS & EXTERNAL LAW FIRM APPOINTED BY CLEAR MEDIA'S BOARD
* IHEARTMEDIA SAYS CLEAR MEDIA'S SPECIAL INVESTIGATION DISCOVERED THAT 3 UNAUTHORIZED BANK ACCOUNTS WERE OPENED IN THE NAME OF CLEAR MEDIA LTD ENTITIES
* EXPECTS TO REPORT CONSOLIDATED REVENUE OF ABOUT $6,171 MILLION FOR YEAR ENDED DEC. 31, 2017 VERSUS ABOUT $6,260 MILLION FOR YEAR ENDED DEC. 31, 2016
* EXPECTS TO REPORT CONSOLIDATED OPERATING INCOME OF ABOUT $970 MILLION FOR YEAR ENDED DEC. 31, 2017 VERSUS ABOUT $1,505 MILLION FOR YEAR ENDED DEC. 31, 2016 Source text: (https://bit.ly/2Guf3ju) Further company coverage:
