Core Insights - Global Media & Entertainment reported a rise in pre-tax losses to £150 million, up from £130 million, despite an increase in revenues to £898 million, which grew by £40 million [1][2] Financial Performance - The company's underlying earnings before interest, tax, and other costs increased by 10% to £155 million, but rising debt costs negatively impacted overall performance [2] - Total borrowings reached £1.9 billion, with £1.65 billion sourced from wealthy backers, and nearly £193 million in interest added to the debt rather than paid in cash [2] - Accumulated losses have now exceeded £1.4 billion [2] Business Operations - Global Media & Entertainment was founded by Ashley Tabor-King, with significant backing from his father, Michael Tabor, who has an estimated net worth of £800 million [3] - The podcast "The News Agents," hosted by former BBC journalists, achieved 100 million downloads in 2025 and hosted a sold-out event at London's Royal Albert Hall in December 2024 [4] - The company also operates other successful podcasts, including "The Sports Agents" and "My Therapist Ghosted Me" [5] Audience Growth - Heart radio's weekly listeners increased by 992,000 to 13.4 million, making it the largest radio brand in Britain, surpassing BBC Radio 2 [6] - Capital radio has also overtaken Radio 1, being branded as the biggest hit music station for younger audiences [6] Advertising and Contracts - Global controls over 235,000 billboard advertising sites in Britain, reaching approximately 95% of the population, with adjusted profits in this segment rising 25% year on year from £112 million to about £140 million [7] - In September 2024, Global secured contracts with Network Rail and Transport for London, gaining control of the largest roadside advertising network and exclusive rights to manage advertising on the Tube and other transport networks [8] Leadership Changes - Stephen Miron stepped down as CEO after 16 years and became chairman, with Simon Pitts, the former head of Scottish broadcaster STV, taking over as CEO [8]