Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 4, 2021, Michael McGuinness, Executive Vice President, Finance, Deputy Chief Financial Officer and Head of Investor Relations of iHeartMedia, Inc. (the "Company"), and the Company's subsidiary, iHeartMedia Management Services, Inc., entered into an amendment, dated January 4, 2021 (the "First Amendment") to Mr. McGuinness's Employment Agreement, dated September 5, 2019 (the "Original Employment Agreement"), effective January 1, 2021, to extend Mr. McGuinness's initial term of employment through December 31, 2024. The First Amendment also amends the Notice of Non-Renewal Period (as defined in the Original Employment Agreement) to be the period between June 1st and July 1st prior to the end of the then applicable employment period, increases Mr. McGuinness's annual base salary to $725,000 and increases his target annual bonus to 110% of his annual base salary.

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