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iHeartMedia Returns to NASDAQ, Stock Opens at $16.45


iHeartMedia returned to the public markets on Thursday, after emerging from bankruptcy earlier this year. The company's Class A shares, listed under the symbol "IHRT" on Nasdaq, opened at $16.45 and were down 1.8% in morning trading.

In an 8K filing with the SEC earlier this week, iHeartMedia revealed preliminary results of operations for the second quarter of 2019 with revenues rising 2.4% to $913 million from $892 million. Operating income (OI) fell to $180 million from $181 million, while Adjusted EBITDA grew 3.1% to $263 million from $255 million.

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