As RBR+TVBR first reported on Monday afternoon, iHeartMedia suffered an $8 million quarterly loss in Q3 2026 despite sizable growth in its podcast revenue and programmatic advertising. One culprit was lower-than-anticipated political advertising revenue.
That seems to be a sore spot with the company’s shareholders, as Tuesday’s trading commenced with a fierce sell-off of stock that had not ebbed by 1pm Eastern.
On volume of nearly 26.4 million shares off of average trading volume of 728,300 shares, Nasdaq GlobalSelect market-listed “IHRT” was down by 66%, to $0.6095.
That surpasses the $0.87 finish seen in late May 2024, establishing a fresh five-year low for iHeartMedia stock.
It also lowers the intraday market cap for iHeartMedia to $92.595 million.
According to Yahoo! Finance, iHeartMedia’s top institutional investors are comprised of Allianz Asset Management GmbH; Global Media & Entertainment Investments Ltd.; Blackrock Inc.; and Deutsche Bank AG.
The nation’s largest audio content creation and distribution company isn’t the only radio station ownership group facing steep declines on Wall Street. Townsquare Media, which trades on the NYSE under the ticker symbol “TSQ,” has lost just shy of 75% of its value in the last six months, with declines ramping up in August and accelerating since mid-September.
On July 7, “TSQ” closed at $7.25 per share. By October 6, a $4.54 closing price was seen. With late October pricing nearly touching $3 per share, the drops accelerated following Election Day. As of 1:10pm Eastern on Tuesday (11/10), “TSQ” was down another 8 cents to $1.67 per share.
This marks a fresh all-time low for Townsquare Media shares.
