U.S. financial markets sent radio downward

USA: Geopolitical jitters sent U.S. financial markets downward for a second straight session on Wednesday. Radio companies Cumulus Media, iHeartMedia and Entercom all took a beating.

In Wednesday trading iHeartMedia dipped below $3 a share.

For Cumulus, a 3.7% drop brought shares for the No. 2 radio company (by number of stations) to a new low of $0.2615.

At iHeart, a 4.8% drop saw shares dip to $2.95.

Also off on Wednesday was Entercom, which fell 2.7%, to $13.52.

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