Pittman: “We’re addressing that now.”

iHeartMedia CEO Bob Pittman

The CEO of iHeartMedia was interviewed by CNBC’s Julia Boorstin last week, and, as Pittman is wont to do, he deftly avoided hot-seat questions like, “Do you need to sell to survive?” Instead of answering the question, Pittman stuck to his talking-points: “We have a fantastic operating business that produces almost $2 million in OIBDA [operating income before depreciation and amortization]. We spend that money to service debt.” Later in the interview, Pittman noted, “This is one of the last big LBOs. It’s got a lot of debt on it, the good news is, we’re addressing that now.”

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