Netflix Rumor Sparks Surge for iHeart Shares
According to Bloomberg News, iHeartMedia is close to reaching an agreement with Netflix to license video podcasts.
This news sparked a buying frenzy for iHeartMedia shares, which have seen a sharp depreciation in value over the last five years.
- iHeartMedia shares rose to $4.0686, a 39.5% gain from Monday.
- The company, led by CEO Bob Pittman and COO/CFO Rich Bressler, did not respond to requests for comment.
No comment from iHeartMedia on the report.
Author's summary: iHeartMedia shares surge 40% on Netflix rumor.
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