iHeartMedia Inc. Chief Executive Robert Pittman collected more than $14 million in the 12 months leading up to the bankruptcy of the company he leads, his best year since taking the helm of the nation’s largest radio broadcaster, WSJ Pro Bankruptcy reported. In bonus pay alone, Pittman collected more in 2017 than he had received in total compensation as iHeart’s CEO since 2011, according to new bankruptcy court papers and Securities and Exchange Commission filings. The year of big rewards for iHeart’s leader was a tumultuous time for the company. It was grappling with mounting competition from new digital rivals and getting pressure from creditors owed $20 billion. In 2017, iHeart had to pay $1.4 billion in cash interest on its debt, putting a significant strain on revenue of $3.6 billion. In 2017, Pittman collected more than $9 million in bonuses, in addition to base pay of $1.25 million. The figure represents a major uptick for a top executive who had made less than $5 million total in the two previous years.
