Cumulus Media shares fell 16% after the company announced it would be de-listed from the Nasdaq exchange.
Also this week: Sphere's "Exosphere" has a new sales lead, Third Side Music hires a head of copyright and SoundCloud's former COO/CFO has landed a real(ity) job.
Total Sphere revenue was $127.1 million in the quarter ended Sept. 30, down from $151.2 million and $170.4 million in the prior two quarters.
The executive's new employment contract runs through June 30, 2027.
The firm founded by the billionaire hedge funder previously owned and sold a smaller stake in the company.
The executive, who joined the company in January from Google, was previously president of Sphere Business Operations.
The German company helped develop the venue company’s iconic immersive sound system.
In the final week of 2023, the 20-stock music index gained 1.1% to 1,534.07.
Shares of Sphere Entertainment dropped more than 15% following the release of the SEC filing.
Sphere Entertainment expects two more residencies in the second half of its current fiscal year ending June 30, 2024.
