Cumulus Media shares fell 16% after the company announced it would be de-listed from the Nasdaq exchange.
The radio broadcaster's stock has closed under $1 per share since Nov. 1 and earned de-listing warnings in December and March.
Both radio companies cut costs and restructured debt in 2024, but revenue growth remains elusive.
The digital audio segment accounted for 31% of iHeart's revenue, up from 28% a year earlier.
Cook also serves as operations manager for Cumulus' Nashville cluster and program director for Nashville country stations WKDF and WSM-FM Nashville.
The Billboard Global Music Index dropped 1.5% to 1,355.65 this week, bringing its year-to-date gain to 16.1%.
The company led all music stocks this week on the Billboard Global Music Index, which was up 1% despite 13 of 21 companies finishing in negative territory.
The Billboard Global Music Index dropped 3.5% with 16 of its 21 stocks in negative territory.
The radio company's shares were boosted by an announcement of a $10 million share repurchase.
National advertisers reduced marketing spending to mitigate economic headwinds in the second quarter, according to Cumulus Media CEO Mary Berner.
