Latest news with #Gerstner
Yahoo
3 days ago
- Business
- Yahoo
Move Over Nvidia, Taiwan Semiconductor, and Micron. Brad Gerstner's Altimeter Capital Just Gave Investors 2,999,536 Reasons to Check Out the Hottest Artificial Intelligence (AI) IPO Stock of 2025
Brad Gerstner is the founder and CEO of hedge fund Altimeter Capital. Some of his more notable wins include being an early investor in data cloud company Snowflake and Asian ridehailing leader Grab. As is the case with many investment funds, Altimeter has made artificial intelligence (AI) stocks a core feature of its portfolio in recent years. According to its most recent 13F filing, Altimeter trimmed its stake in Nvidia during the first quarter while completely dumping its stakes in Micron and Taiwan Semiconductor Manufacturing. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Interestingly, though, I discovered that Altimeter holds a position in red-hot AI IPO stock CoreWeave (NASDAQ: CRWV). This comes from an investment Altimeter made when CoreWeave was still a private company. As of the close of trading on June 4, Altimeter's 2,999,536 shares were worth about $489 million Let's explore some of the core themes in the ongoing AI revolution to try and discern what may have motivated these moves. From there, I'll break down CoreWeave's business and recent price action to help determine if the stock is a good buy right now. Considering how robust demand has been for high-end graphics processing units (GPU) and memory storage chips, reducing exposure to names such as Nvidia, Micron, and Taiwan Semi looks like a head-scratcher on the surface. However, this is not the first time that Gerstner has shown some contrarian characteristics in his investment style. While I cannot say for certain what Altimeter's current thesis is regarding chip stocks or the AI movement more broadly, I've come up with some reasons that may help justify the fund's recent moves. According to industry estimates, Nvidia currently controls roughly 90% (or more) of the data center GPU market. While a lead like that might suggest Nvidia's moat is insurmountable, there are some risks to consider. First, Nvidia's revenue sources are heavily concentrated among cloud hyperscalers such as Amazon, Alphabet, and Microsoft. Each of these companies has been developing their own custom AI chips, potentially signaling their intentions to migrate away from Nvidia's architecture over time. When you layer on top that the fact that Advanced Micro Devices has steadily been gaining momentum in the data center arena -- as its deals with Oracle, Microsoft, and Meta Platforms demonstrate -- Nvidia's growth could be on course for some deceleration. Lastly, one of the storm clouds hanging over Nvidia at the moment is its exposure to China. New U.S. export controls and President Donald Trump's tariffs could cut into its sales there. Micron operates in a unique pocket of the AI realm. It specializes in memory storage chips, which are vital hardware for data centers, personal computers, and smartphones, among other technologies. With that said, memory chips are relatively commoditized. On top of that, a shift toward cloud-based AI infrastructure could potentially serve as a headwind for Micron's hardware-centric chip memory business. Taiwan Semiconductor specializes in fabrication services -- its foundries are where chips designed by Nvidia, AMD, Broadcom, and a host of others are actually manufactured. While demand for GPUs and other types of AI chips is strong, a deceleration in sales growth from key customers (i.e., Nvidia) could trickle down to TSMC's business, too. Furthermore, most of TSMC's factories are located in Taiwan. Given the ongoing geopolitical pressures Taiwan faces from China, it's possible that U.S. chip designers like AMD or Nvidia could begin to turn to alternative foundry providers such as Intel. Image Source: Getty Images. CoreWeave is a cloud computing infrastructure provider that offers its clients access to Nvidia GPUs and a host of other chip integrations. As such, its business is not as exposed to the time it takes to design and manufacture sophisticated hardware -- unlike the names explored above. In a way, this makes the hyperscaler more nimble than other chip and data center stocks, allowing the company to scale at a faster pace. CoreWeave is able to take advantage of the booming chip landscape but more so on the AI training and inferencing side. Ultimately, it fills the gap between producing chipsets and accessing optimized AI cloud infrastructure. It's not that Nvidia, Micron, or TSMC are poor investment choices right now. It's simply that those businesses might be reaching levels of maturity, whereas CoreWeave's model could be in the early phases of exponential expansion. The chart below illustrates how CoreWeave's price-to-sales (P/S) ratio has progressed since its initial public offering (IPO) earlier this year. CRWV PS Ratio data by YCharts There are a couple of big takeaways from this chart. First, it's clear that CoreWeave has experienced notable valuation expansion. In my view, outsize momentum is propelling CoreWeave stock right now -- and buying in the wake of its recent climb could leave you as an unsuspecting bag holder. In addition, CoreWeave's P/S multiple is almost fourfold that of Oracle -- which also provides core data center infrastructure services. Oracle is a mature, profitable business, unlike CoreWeave's high-cash-burn operation. While I understand the thesis behind CoreWeave's value proposition in the AI landscape, I think the stock is overbought right now. I would pass on investing at its current valuation, but would keep tabs on the company and its growth prospects. Before you buy stock in CoreWeave, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and CoreWeave wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Adam Spatacco has positions in Alphabet, Amazon, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Intel, Meta Platforms, Microsoft, Nvidia, Oracle, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft, short August 2025 $24 calls on Intel, and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Globe and Mail
10-04-2025
- Business
- Globe and Mail
Legendary Investor Brad Gerstner Is Buying Up Nvidia Stock Despite the Trade War Tizzy. Should You?
In early April, the United States announced broad global import tariffs, which the markets quickly dubbed the 'Liberation Day' tariffs. These tariffs sent shockwaves throughout the technology sector, and Nvidia (NVDA) was no exception, with its stock coming under heavy selling pressure. Investors found some relief on April 9, when President Donald Trump announced a 90-day pause on higher reciprocal tariffs, with the exception of China, which now faces a 125% import tariff. Along the way, some influential market players remained confident in Nvidia's resilience. Brad Gerstner, CEO of Altimeter Capital and one of Wall Street's respected tech investors, recently made headlines by expressing his firm belief that Nvidia is uniquely positioned to weather Trump's tariff storm. Gerstner cites not only Nvidia's leadership in AI chips, which power everything from ChatGPT and autonomous vehicles to massive data centers, but also recent reciprocal tariff exceptions specifically granted to semiconductor imports. These exceptions, Gerstner suggests, signal recognition by policymakers of the critical role advanced chips play in maintaining America's competitive edge in the AI arms race. This article explores Brad Gerstner's thesis in depth, analyzing Nvidia's fundamental strengths and its exposure to tariff-related risks. Should investors keep buying NVDA stock, or is caution now the better path forward? Let's dig deeper to find out. About Nvidia Stock Nvidia (NVDA) is a premier technology firm known for its expertise in graphics processing units and artificial intelligence solutions. The company is renowned for its pioneering contributions to gaming, data centers, and AI-driven applications. NVDA's technological solutions are developed around a platform strategy that combines hardware, systems, software, algorithms, and services to provide distinctive value. Its market cap currently stands at $2.35 trillion. Shares of the AI darling have slumped 14.9% year-to-date, pressured by concerns ranging from the emergence of DeepSeek to tariffs and uncertainties surrounding the global economic outlook. Altimeter's Brad Gerstner Believes NVDA Is Well-Positioned Here Altimeter Capital CEO Brad Gerstner said last Thursday that he's stepping out of the 'bomb shelter' with Nvidia and into a position of safety. 'That means adding about 15% of net exposure, and we're adding it in the areas that we believe are continuing to see sector growth. And as you know, the growth and demand for graphics processing units (GPUs) is off the charts,' Gerstner said. He highlighted the Nvidia's GPUs, which are fueling the AI boom, and noted that investors should pay attention to commentary from OpenAI, Google (GOOGL), and Elon Musk. Gerstner believes Nvidia is well-positioned to weather President Donald Trump's broad tariff measures, a stance he shared even prior to the implementation of a 90-day pause. A major reason the chipmaker might better withstand Trump's tariff increases is that semiconductors are included in the list of exceptions - a move Gerstner described as a 'wise exception' given the significance of AI. 'And I think one of the reasons semiconductors are being excepted is because for us to charge a tariff on our own chips, which are fabricated in Taiwan because they can't be fabricated in the U.S. …because we know if we increase the cost of chips that we design to our own companies, we're only shooting ourselves,' he told CNBC. It's important to clarify that by 'exceptions,' Gerstner is referring to those from reciprocal tariffs announced on 'Liberation Day,' April 2, when Trump unveiled a universal 10% tariff on all goods along with steeper country-specific duties. Semiconductors were excluded from these new U.S. tariffs, shielding Nvidia from some immediate direct costs. Another important point to note is that the exemptions apply to semiconductors in their raw form, such as GPU boards, server accelerators, or integrated systems. However, numerous related items like circuit boards, fans, and power components continue to be included on the tariff list. As a result, this will likely lead to a margin squeeze if and when reciprocal tariffs resume, forcing Nvidia to choose between passing the added costs on to customers or absorbing them internally, either of which could hinder its growth. Still, investors shouldn't be overly concerned for now, as they received encouraging news on Wednesday. President Trump announced a complete 90-day pause on all 'reciprocal' tariffs, except those targeting China. U.S. trade partners will still be charged the baseline 10% rate. Meanwhile, Nvidia will still feel some impact from reciprocal tariffs due to its exposure to China. The country, initially hit with an additional 34% levy, serves both as a supplier of certain components and a notable end market, accounting for approximately 13% of the company's total revenue in FY25. Trade tensions between Beijing and Washington have escalated in recent days, as Trump raised the tariff rate on China to 125% on Wednesday, with immediate effect. The most recent hike followed China's announcement of additional retaliatory tariffs against the U.S. early Wednesday. NVDA Continues to Face Risks from Chip-Specific Tariffs and Restrictions Explicit threats from the Trump administration regarding future chip-specific tariffs create considerable uncertainty for Nvidia. Some analysts believe semiconductors were excluded from the reciprocal tariffs only because Trump is considering imposing separate, sector-specific tariffs on them. Last Thursday, Trump told a White House press pool that tariffs on semiconductors would be imposed 'very soon.' In late February, Trump stated that he was considering tariffs of '25% or higher' on all semiconductor chips imported into the U.S., with rates expected to 'go very substantially higher over the course of a year.' In January, he proposed tariffs of 25%, 50%, or even 100% on semiconductors manufactured overseas. Such tariffs could significantly affect Nvidia as the company outsources fabrication to partners in Asia. Taiwan is crucial because it hosts Taiwan Semiconductor Manufacturing (TSM), the contract foundry that manufactures Nvidia's latest silicon wafers. South Korea is also vital, serving as a source of memory chips from Samsung and SK hynix, and as an alternative wafer fabricator for some Nvidia products. In addition, Nvidia relies on subcontractors in Taiwan and other parts of Asia for assembly and packaging. Notably, the company cannot readily or swiftly relocate leading-edge production to other regions, as building a new fabrication facility and qualifying it for production typically takes up to 4 years. Meanwhile, the U.S. government is also set to roll out its new tiered AI chip export restrictions on May 15, referred to as the AI Diffusion Rule. This framework seeks to regulate which countries, including U.S. allies, can import advanced semiconductors essential for AI development. It categorizes countries into three tiers and specifies the quantity of chips countries can import, where those chips can be used, and how nations can collaborate on AI development. With that, the rules would limit certain sales of Nvidia's chips and potentially shrink its market. Still, foreign governments and tech companies are reportedly urging the Trump administration to reconsider certain restrictions, expressing concerns that the rules could hinder AI development and investment. NVDA Fundamentals Remain Indisputable Setting the tariff drama aside for a moment, it becomes clear just how fundamentally strong NVDA's business truly is. In the latest quarter, Nvidia reported impressive results that indicate significant potential for long-term growth. The company posted record fourth-quarter revenue of $39.3 billion, an increase of 12% sequentially and 78% year-over-year, surpassing both its own guidance of $37.5 billion and Wall Street's consensus of $38.2 billion. The bottom-line performance was equally strong, as adjusted EPS came in at $0.89, topping expectations by $0.04. Riding the momentum of the ongoing AI revolution, the chipmaker saw its data center revenue, now accounting for 90.6% of total revenue, reach a record $35.6 billion in Q4, marking a 16% increase quarter-over-quarter and 93% year-over-year. Blackwell sales made up 31% of the data center segment, which management highlighted as the quickest product ramp-up in the company's history - unmatched in both speed and scale. CEO Jensen Huang recently stated that data center build-outs are projected to reach $1 trillion by the end of this decade, with hyperscalers purchasing Blackwell GPUs at unprecedented rates, underscoring NVDA's strong long-term growth potential. Meanwhile, the company is actively making strategic moves to reinforce its dominant market position. On April 7, The Information reported that Nvidia had completed its acquisition of artificial intelligence startup Lepton AI. Notably, Lepton AI is renowned for its 'server-rental' services, which have seen surging demand recently due to their cost efficiency. It appears that the main reason for this acquisition is NVDA's effort to fully control the supply chain rather than just focusing on the manufacturing aspect. Looking forward, Nvidia forecasts Q1 revenue to be around $43 billion, plus or minus 2%, representing a 65% increase year-over-year and a 9% rise from the previous quarter. This projection underscores ongoing robust demand for the company's products, especially the GPUs from the Blackwell series. Moreover, Nvidia has not experienced any significant downward revisions in FY26 revenue or EPS recently due to the new U.S. tariffs. Analysts tracking the company forecast a 51.42% year-over-year growth in its adjusted EPS to $4.53 for this fiscal year, while revenue is estimated to grow 56.37% year-over-year to $204.05 billion. The numbers are essentially the same as those in my article from last week. Furthermore, NVDA's valuation looks like a gift. The stock is trading at a forward P/E ratio (Non-GAAP) of 21.29x, significantly lower than its five-year average of 47.75x. NVDA last traded at such a low P/E ratio prior to the launch of ChatGPT. What Do Analysts Expect for NVDA Stock? So far, Wall Street analysts have maintained their bullish stance on NVDA, with the stock holding a consensus 'Strong Buy' rating. This reflects their belief that Nvidia's dominance in AI will offset tariff-related headwinds over the medium term. Of the 43 analysts covering the stock, 37 rate it a 'Strong Buy,' two suggest a 'Moderate Buy,' and four assign a 'Hold' rating. The average price target for NVDA stock is $176.15, indicating solid upside potential of 54.1% from current levels. The Bottom Line on NVDA Stock I completely agree with Wall Street analysts and view Nvidia as a 'Strong Buy.' Although tariffs on China may lead to short-term supply chain disruptions and margin pressure, NVDA's dominant position in a rapidly growing industry puts it in a strong position to weather trade wars in the long term. Moreover, we received very encouraging news on Wednesday about reciprocal tariffs, increasing the likelihood that most of them will be reduced or averted through negotiations. One key aspect investors should watch closely is Trump's chip-specific tariffs, which I currently see as a major risk. Still, NVDA's current valuation provides a strong margin of safety against potential future risks. With that, 'Strong Buy.'
Yahoo
02-04-2025
- Business
- Yahoo
iHeartMedia Announces Brad Gerstner Is Concluding His Service on Its Board of Directors
Company Also Announces Nomination of Robert Millard to Stand for Election for Vacant Board Seat NEW YORK, April 01, 2025--(BUSINESS WIRE)--iHeartMedia, Inc. (NASDAQ: IHRT), the leading audio company in America, today announced that Board member Brad Gerstner has chosen not to stand for re-election and will conclude his service on its Board of Directors in order to focus on his other commitments. Mr. Gerstner, the founder and CEO of Altimeter Capital, has been a member of the iHeartMedia Board of Directors since 2019. "When we began this journey together back in 2019, Brad was only able to promise us one term as a director due to his enormous commitments to Altimeter and its portfolio companies, and we're grateful he gave us five terms. We appreciate all the contributions he made during that time, especially his experience and view of technology and the future -- which helped us determine how to make the technology transitions we needed to maximize our revenue opportunities in an increasingly data-focused and technology-led marketplace. He's had a significant impact on iHeart's success and our vision for the company's direction," said Bob Pittman, iHeartMedia CEO and Chairman of its Board of Directors. "The longer I served on the iHeart Board the more excited I got about the power of audio and the unique opportunity iHeart has because of its enormous and unparalleled consumer reach and connection. From seemingly ubiquitous talk to podcasts to radio, iHeart sits on an unparalleled goldmine of constantly refreshing audio data that will only become more valuable in the Age of AI," said Mr. Gerstner. "The biggest issue in my life is time; my strong obligations to Altimeter and its portfolio companies, and my deep commitment to my philanthropic activities, mean that I have to conclude my service on the iHeart Board, but I'm glad I was able to be a part of it for so many years. I appreciate all I've been able to learn, and I've loved the constant exchange of ideas. I've also valued being a part of iHeart's growth and having a front row seat as they created whole new businesses, like podcasting, where they are now number one." The company also announced the Company's Board of Directors has nominated Robert Millard to stand for election at the Company's 2025 Annual Meeting of Stockholders to be held on May 13th. Mr. Millard is a Director of Evercore, an international investment bank, and co-founder and former Chairman of the Board of L3 Technologies, a major defense technology company. He currently serves as Lead Director of L3Harris Technologies. He formerly served as Chairman of the MIT Corporation and Chairman of the MIT Investment Management Company endowment board. Prior to becoming Chairman of MIT, Mr. Millard served as the Chairman of Realm Partners LLC from 2009 to 2014 and held various senior roles, including Managing Director at Lehman Brothers and its predecessors from 1976 to 2008. If elected by stockholders, he is expected to begin his service effective May 13th. "We appreciate the opportunity to have Bob Millard bring his broad range of experience across business, finance and strategic planning to the iHeart Board," said Pittman. "We believe his critical thinking and insights, combined with his long experience as an investor, will add important and unique benefits for our company and our shareholders, and will contribute significantly to positioning iHeart for continued growth." About iHeartMedia, Inc. iHeartMedia (Nasdaq: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups. With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the Company's live and virtual events business. It also includes Premiere Networks, the industry's largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base. The iHeartMedia Digital Audio Group includes the Company's fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500+ platforms and thousands of devices; the Company's digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint. The Company's Audio & Media Services reportable segment includes Katz Media Group, the nation's largest media representation company, and RCS, the world's leading provider of broadcast and webcast software. View source version on Contacts MediaWendy GoldbergChief Communications Officer(212) 377-1105wendygoldberg@ InvestorsMike McGuinnessEVP, Deputy CFO, and Head of Investor Relations(212) 377-1336mbm@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-04-2025
- Business
- Yahoo
iHeartMedia Announces Brad Gerstner Is Concluding His Service on Its Board of Directors
Company Also Announces Nomination of Robert Millard to Stand for Election for Vacant Board Seat NEW YORK, April 01, 2025--(BUSINESS WIRE)--iHeartMedia, Inc. (NASDAQ: IHRT), the leading audio company in America, today announced that Board member Brad Gerstner has chosen not to stand for re-election and will conclude his service on its Board of Directors in order to focus on his other commitments. Mr. Gerstner, the founder and CEO of Altimeter Capital, has been a member of the iHeartMedia Board of Directors since 2019. "When we began this journey together back in 2019, Brad was only able to promise us one term as a director due to his enormous commitments to Altimeter and its portfolio companies, and we're grateful he gave us five terms. We appreciate all the contributions he made during that time, especially his experience and view of technology and the future -- which helped us determine how to make the technology transitions we needed to maximize our revenue opportunities in an increasingly data-focused and technology-led marketplace. He's had a significant impact on iHeart's success and our vision for the company's direction," said Bob Pittman, iHeartMedia CEO and Chairman of its Board of Directors. "The longer I served on the iHeart Board the more excited I got about the power of audio and the unique opportunity iHeart has because of its enormous and unparalleled consumer reach and connection. From seemingly ubiquitous talk to podcasts to radio, iHeart sits on an unparalleled goldmine of constantly refreshing audio data that will only become more valuable in the Age of AI," said Mr. Gerstner. "The biggest issue in my life is time; my strong obligations to Altimeter and its portfolio companies, and my deep commitment to my philanthropic activities, mean that I have to conclude my service on the iHeart Board, but I'm glad I was able to be a part of it for so many years. I appreciate all I've been able to learn, and I've loved the constant exchange of ideas. I've also valued being a part of iHeart's growth and having a front row seat as they created whole new businesses, like podcasting, where they are now number one." The company also announced the Company's Board of Directors has nominated Robert Millard to stand for election at the Company's 2025 Annual Meeting of Stockholders to be held on May 13th. Mr. Millard is a Director of Evercore, an international investment bank, and co-founder and former Chairman of the Board of L3 Technologies, a major defense technology company. He currently serves as Lead Director of L3Harris Technologies. He formerly served as Chairman of the MIT Corporation and Chairman of the MIT Investment Management Company endowment board. Prior to becoming Chairman of MIT, Mr. Millard served as the Chairman of Realm Partners LLC from 2009 to 2014 and held various senior roles, including Managing Director at Lehman Brothers and its predecessors from 1976 to 2008. If elected by stockholders, he is expected to begin his service effective May 13th. "We appreciate the opportunity to have Bob Millard bring his broad range of experience across business, finance and strategic planning to the iHeart Board," said Pittman. "We believe his critical thinking and insights, combined with his long experience as an investor, will add important and unique benefits for our company and our shareholders, and will contribute significantly to positioning iHeart for continued growth." About iHeartMedia, Inc. iHeartMedia (Nasdaq: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups. With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the Company's live and virtual events business. It also includes Premiere Networks, the industry's largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base. The iHeartMedia Digital Audio Group includes the Company's fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500+ platforms and thousands of devices; the Company's digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint. The Company's Audio & Media Services reportable segment includes Katz Media Group, the nation's largest media representation company, and RCS, the world's leading provider of broadcast and webcast software. View source version on Contacts MediaWendy GoldbergChief Communications Officer(212) 377-1105wendygoldberg@ InvestorsMike McGuinnessEVP, Deputy CFO, and Head of Investor Relations(212) 377-1336mbm@
