IHeartMedia shares are trading higher following a report suggesting the FCC approved the transfer of radio station licenses to allow Audacy to emerge from bankruptcy.
Portfolio Pulse from Benzinga Newsdesk
IHeartMedia shares are rising due to a report that the FCC has approved the transfer of radio station licenses, enabling Audacy to emerge from bankruptcy.
September 30, 2024 | 4:14 pm
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POSITIVE IMPACT
IHeartMedia shares are trading higher following news that the FCC approved the transfer of radio station licenses, which allows Audacy to emerge from bankruptcy.
The approval by the FCC is a positive regulatory development that indirectly benefits IHeartMedia by stabilizing the radio industry environment. This news has led to an increase in IHeartMedia's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80