‘Stub’ Slips For iHeart In Tuesday’s Trading


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.

Previous articleWho Is The FCC Welcoming As Its Newest Staffers?
Next articleChuck DuCoty To Retire as NRG COO

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.


Please enter your comment!
Please enter your name here