What Happened?
Shares of global media and entertainment company iHeartMedia (NASDAQ: IHRT) jumped 5.2% in the afternoon session after the company was identified as a potential bidder for the podcast producer Audioboom Group PLC. According to a Sky News report, London-based Audioboom was exploring a potential takeover of the company. Media analysts noted that iHeartMedia, which is based in San Antonio, Texas, could be a possible suitor. The news pointed to a potential expansion for iHeartMedia, which may have been viewed favorably by investors.
After the initial pop the shares cooled down to $2.79, up 3% from previous close.
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What Is The Market Telling Us
iHeartMedia’s shares are extremely volatile and have had 73 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 3 days ago when the stock gained 2.3% on the news that DeepIntent, a platform for healthcare advertisers, unveiled its HealthFirst™ Audio Package, offering advertisers premium access to digital audio from curated sources including iHeartMedia.
This new offering was designed to help brands connect with patients and medical providers during high-attention, screen-free moments. The package provides healthcare advertisers with a way to reach a large, targeted audience through digital audio at scale. This development could create new revenue opportunities for iHeartMedia by tapping into the healthcare advertising market. In a separate move, the company also expanded its podcast offerings, as actress Crystal Reneé Hayslett's talk series joined The Black Effect Podcast Network, a venture between iHeartMedia and Charlamagne Tha God.
iHeartMedia is up 37.9% since the beginning of the year, but at $2.79 per share, it is still trading 10.5% below its 52-week high of $3.11 from September 2025. Investors who bought $1,000 worth of iHeartMedia’s shares 5 years ago would now be looking at an investment worth $339.63.
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