Just before midday Friday, iHeartMedia‘s publicly traded “stub” of stock was up 17% from Thursday’s closing price, at $1.24 per share.
Minutes later, IHRTQ had retreated to $1.11, and as of 3:45pm Eastern it was up 1 cent, to $1.07. Still, it’s a jump — and it comes as the nation’s No. 1 owner of radio stations late Thursday filed its monthly operating report with the SEC, per the terms of its Chapter 11 bankruptcy protection.
The filing came a day after iHeart moved forward with its anticipated separation of its Clear Channel Outdoor unit.
