Geopolitical jitters sent U.S. financial markets downward for a second straight session on Wednesday, as Cumulus Media continued to struggle and iHeartMedia dipped below $3 a share.
For Cumulus, a 3.7% drop brought shares for the No. 2 radio company (by number of stations) to a new low of $0.2615.
At iHeart, a 4.8% drop saw shares dip to $2.95.
Also off on Wednesday was Entercom, which fell 2.7%, to $13.52.
For a complete look at today’s media stocks, please visit the RBR.com homepage and visit our Wall Street Report.