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ETM - Radio Offers A Compelling Value Proposition For Advertisers - IHeartMedia Is The Best In The Space
Entercom Communications Corp.
Several things have happened in the past few weeks that have kept my investment in iHeartMedia (IHRT), and the radio sector at large, in the front of my mind. First, by staying up to date on SEC filings I learned that Brigade Capital Management, a global hedge fund with $25 billion assets under management, took a 15% ownership stake in IHRT. Clearly they are bullish on radio. Taking the opposite view is Bank of America who recently downgraded IHRT to from buy to neutral. Finally, repeated breaking news stories about various