A Potential iHeart Ownership Change
A recent iHeart FCC filing is revealing in several ways not the least of which is speculation around a potential change in ownership, control or strategic direction involving Global Media & Entertainment Investments known as GMEI.
That filing was likely a key driver of iHeart’s recent stock price uptick.
aThe filing didn’t come out of nowhere, and the stock moved before it hit the FCC’s public portal that strongly suggests someone did know, and acted accordingly -- the 20% jump in just a couple of weeks—equating to roughly $0.30–$0.35 per share.
GMEI insiders — including Ashley Tabor-King and his father Michael Tabor — can now hold more than 5% individually but not to exceed 14.99% combined.
They’re also requesting approval to shift ownership between GMEI-controlled entities which could streamline control, obscure real-time movements, lay the groundwork for future maneuvers possibly a proxy play, debt-to-equity swap, or strategic repositioning.
What it means: This is about a quiet power move with unintended consequences and the market is only now starting to catch on.
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