Market Chatter: SiriusXM Talks Over Acquisition of iHeartMedia Hit Impasse; Shares Fall

MT Newswires Live05-29

SiriusXM's (SIRI) discussions over a possible acquisition of iHeartMedia (IHRT) have hit an impasse after the two sides were unable to come to terms, The New York Times Dealbook reported Friday, citing two people with knowledge of the discussions.

Despite the stalled talks, the sources said that they could always be restarted.

In April, Bloomberg reported that IHeartMedia was holding talks with SiriusXM about a possible sale.

IHeartMedia and SiriusXM didn't immediately respond to requests for comment from MT Newswires.

Shares of IHeartMedia and SiriusXM were down 11% and 2.1%, respectively.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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