‘Stub’ Slips For iHeart In Tuesday’s Trading

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The publicly traded “stub” of iHeartMedia shares fell 6.7% in Tuesday’s trading, to 70 cents, as investors continue to express nervousness over a counter proposal offered by the company’s debt holders that would give it nearly all equity in iHeart and 100% equity of Clear Channel Outdoor.


Volume was just 4,000 shares; average volume is 6,010 shares.

Meanwhile, Cumulus Media — now trading under the “CMLSQ” symbol as of Nov. 30, reflecting its Chapter 11 bankruptcy filing — finished at 8 cents per share.

CBS Corp. gave back 3.3% of its share value, ending the day at $58.10 after a close above $60 on Monday.

Also down: Entercom, which shed 3.4% of its stock value to finish at $11.30.

For a full look at today’s Closing Prices, please look at the Wall Street Report on the homepage of RBR.com.


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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.

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