Financial Data and Key Metrics Changes - Total revenue for Q3 2025 decreased by 11.5%, or 5% when excluding the impact of Political, The Daily Wire, and The Dan Bongino Show, consistent with prior guidance [5][18] - EBITDA for the quarter was reported at $16.7 million [18] - Digital revenue increased by 8% year-over-year, excluding the impact of The Daily Wire and Dan Bongino, with Digital Marketing Services growing by 34% [18] Business Line Data and Key Metrics Changes - Broadcast spot revenue market share grew for the third consecutive quarter, indicating strong sales execution and local programming [5] - Digital Marketing Services business saw a 34% year-over-year growth, driven by an 88% increase in new accounts and an 8% increase in campaign order size [7] - Podcasting revenue increased by 15% year-over-year, contributing to an overall digital revenue growth of over 8% when normalized [8] Market Data and Key Metrics Changes - In Dallas, the largest market, the company gained almost 4 points of market share, with total revenue up mid-single digits while peers were down nearly 10% [9] - National advertising environment remained weak, leading to a 27% decline in total network revenue, although market share was gained year-to-date [10] Company Strategy and Development Direction - The company is focused on leveraging core competencies and valuable assets, including a vast audience reach and established client relationships [15] - Plans to launch the Westwood One Sports 24/7 Network to capitalize on strong consumer brand recognition and digital distribution opportunities [11] - Continued investment in Digital Marketing Services is expected to yield strong returns, with a focus on AI-driven projects to enhance efficiency and growth [12][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing headwinds in the broadcast radio sector but expressed confidence in outperforming peers through strategic execution [15] - The company anticipates continued revenue pacing down mid-single digits, excluding political impacts, and down mid to high teens when including those impacts [12][20] Other Important Information - The company ended the quarter with $90 million in cash and $109 million in total liquidity, with a debt maturity of $697 million [19] - A litigation against Nielsen was acknowledged, with a preliminary injunction hearing scheduled for early December [16] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a lack of detailed Q&A during the call [21][22]

Financial Data and Key Metrics Changes - People Inc achieved a 9% digital revenue growth in Q2, up from 7% in Q1, marking a return to core sessions growth [6][9] - Consolidated IAC adjusted EBITDA increased by 15% in the quarter, with guidance for full-year EBITDA set between $247 million and $285 million [9][45] - The refinancing of $1.4 billion in debt at People Inc was completed, replacing the original acquisition capital structure with new bank debt and bonds [6] Business Line Data and Key Metrics Changes - MGM reported a 36% net revenue growth in Q2, with increased guidance for the full year to at least $2.7 billion in revenue and at least $150 million in EBITDA [8] - Care.com has seen a divergence in performance, with enterprise business growing solidly while consumer revenue has declined from pandemic highs [41][42] - Digital margins for People Inc reached just under 29% in FY 2024, with Q2 digital EBITDA flat year-over-year at $63 million despite a 9% revenue growth [37][38] Market Data and Key Metrics Changes - The percentage of traffic from Google has decreased from 52% to 28%, while non-Google search sessions have increased at a 29% CAGR [32][33] - Approximately 36% of digital revenue now comes from off-platform sources, indicating a shift in revenue generation strategies [30][31] Company Strategy and Development Direction - The rebranding to People Inc aims to reflect the company's focus on premium content created by people for people, emphasizing the importance of human expertise [11][14] - The company is actively pursuing M&A opportunities and exploring strategic divestitures to bolster cash balances [10][69] - A focus on diversifying audience sources and reducing reliance on Google traffic is central to the company's strategy, with investments in email, events, and syndication businesses [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue goals despite challenges posed by AI and changes in Google's search algorithms [21][32] - The company anticipates continued growth in off-platform audiences and improved monetization, guiding for 7% to 9% digital revenue growth in Q3 [58] - Management acknowledged the need to optimize the matching process on Care.com to drive growth in both consumer and enterprise segments [90][91] Other Important Information - The company has maintained guidance for Care.com at $45 million to $55 million, while corporate run rate costs have been reduced to $110 million to $115 million [46] - The company is exploring new pricing and packaging strategies to better meet consumer needs in the care marketplace [90] Q&A Session Summary Question: Can you elaborate on the trajectory of sessions, including Google Search and off-platform views? - Management expects O&O sessions to be slightly down in Q3 due to tough comps but anticipates flat to slightly up growth going forward, with off-platform growth continuing [50][51] Question: Can you provide insights on the 2Q PeopleLink digital revenue? - Digital advertising grew 5% in Q2, with strong performance in performance marketing and licensing, while core sessions growth was 2% [55][56] Question: Why is the new brand name People Inc the right choice? - The name reflects the company's goal of achieving platform scale with premium branded environments, resonating well with clients and employees [64][66] Question: What is the current state of the M&A landscape? - The company is actively pursuing both small and large acquisition opportunities, focusing on creative and defensible businesses [69][70] Question: What factors need to change for Care.com to grow faster? - The company needs to drive consumer demand and improve the matching process between care seekers and providers, while expanding into senior and pet care markets [90][91]