Iheartmedia - suspending new employee hiring

Iheartmedia inc - expect capital expenditures of approximately $75 million to $95 million in 2020.iheartmedia inc - expect an estimated $100 million reduction in cash taxes in 2020 from cares act.iheartmedia inc - political advertising revenue in 2020 expected to remain consistent with prior election years.iheartmedia inc - reductions in compensation for senior management and other employees.iheartmedia inc - furloughing of certain employees that are non-essential at this time.iheartmedia inc - identified additional operating expense savings totaling approximately $200 million over the remainder of 2020.iheartmedia - believe cash-generation model, current cash balances, cash savings position co with substantial liquidity reserves.iheartmedia - cash balance of $647 million as of march 31, 2020.iheartmedia - over 90% of co's debt matures in 2026 or later.iheartmedia - targeting $100 million in run-rate savings by 2021; expect approximately $50 million in 2020.iheartmedia -- suspending new employee hiring, travel and entertainment expenses and 401(k) matching program.
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