IHeartMedia Shares Fall 66% After Political Ad Revenue Misses Expectations
IHeartMedia shares fell to a 52-week low of 59 cents and recently traded at 60 cents, down 66%, after third-quarter political ad revenue came in below expectations.
By Josh BeckermanShares of IHeartMedia fell to a 52-week low as third-quarter political ads for the largest U.S. radio company were below expectations.IHeart shares were recently changing hands at 60 cents each, down 66%, after hitting a 52-week low of 59 cents earlier in the session. The stock is…