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iHeartMedia, the largest U.S. radio station and podcast distribution company, saw revenue rise nearly 10% to $884 million in the first quarter — but nearly 20% growth in podcasting revenue wasn’t enough to offset disappointing advertising income.

In its Q1 earnings release on Monday (May 11), the company reported that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) — a key measure of profitability — fell 11.4% to $93 million in the quarter ended March 31 due to softness in the advertising market and marketing expenses incurred earlier in the year than expected, executives said.…