We continue to be opportunistic in responding to market developments and are evaluating all opportunities surrounding our capital structure. In aggregate, we now have repurchased $534 million of our 8.38% [ph] senior unsecured notes at a meaningful discount to their par value, generating both earnings and free cash flow accretion. This has reduced the outstanding amount of our 8.38% senior unsecured notes from $1.45 billion to approximately $916 million, resulting in aggregate annualized cash interest savings of approximately $45 million. In the first quarter, our free cash flow was a negative $81 million, a significant improvement from negative $133 million in the prior year quarter. And our Q1 2024 free cash flow excludes the positive impact of the $101 million of cash proceeds from our equity stake in the sale of BMI that we received in February.
As a reminder, Q1 is our seasonal low point for free cash flow in the year and we will generate positive free cash flow in each of the remaining quarters in 2024. Our free cash flow for the year will also benefit from the Presidential Election cycle, which we expect to generate robust political advertising, which as a reminder is paid upfront and will help fuel our free cash flow generation, particularly in Q3 and Q4. Turning now to our outlook for Q2, we expect our Q2 2024 revenues to be approximately flat year-over-year. We are still closing the month of April, but expect revenues to be down 0.4%. Turning to the individual segments for Q2, we expect the Digital Audio Groups revenues to be up high-single digits. We expect the Multiplatform Groups revenue to be down mid-single digits, a sequential improvement from Q1.
And we expect the Audio and Media Services Group revenues to be down low-single digits. We expect to generate second quarter adjusted EBITDA in the range of $140 million to $160 million, compared to $191 million in the prior year quarter. For this quarter, we will not have our usual flow through of revenue due to the timing of the iHeartRadio Music Awards, which occurred in Q1 last year and in Q2 this year. We recognize expense associated with the event, including production and marketing costs when the awards are aired on Fox and streamed on Hulu. Turning to some of the items affecting our full year free cash flow, we expect our cash taxes to be approximately 10% of adjusted EBITDA in 2024. Our estimate of full year 2024 capital expenditures is expected to be approximately $100 million.
Cash restructuring expenses will be approximately $60 million this year as we continue to execute on new opportunities to optimize our organization for efficiency and growth. As Bob mentioned, we continue to see signs of improvement throughout our business and the broader advertising marketplace. And as we look ahead, we expect to generate significant political revenues as a result of the Presidential Election cycle. Although most of the political revenue comes in the back half of the year, as an early indicator, our full year 2024 political revenues are currently pacing approximately 16% higher than the last Presidential Election cycle when we generated $167 million of political revenue. With that context, we expect to see a significant year-over-year improvement in our full year adjusted EBITDA performance.
On behalf of our entire management team, Bob and I want to thank our team members who work to deliver for their communities, our advertising partners and for iHeart every day. Now we will turn it over to the Operator to take your questions. Thank you.
Operator: Thank you. [Operator Instructions] There are no questions at this time. I will turn the call to the speakers for closing remarks.
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Rich Bressler: Well, Bob and I and the entire management team again would like to thank you all for taking a few minutes this morning to listen to the iHeart story and we are available anytime for any follow-up questions. Again, thank you all.
Operator: This concludes today’s conference call. We thank you for joining. You may now disconnect your lines.
