iHeartMedia Sells Stake to British Radio Investor

Campaign: Michael Tabor, the investment mogul behind the British radio and outdoor media group Global, has taken a stake of almost 9% in its bigger US audio rival, iHeartMedia, in a surprise move. A US stock market filing shows Tabor is the “beneficiary” of a trust that owns Honeycomb Investments, which spent $117.6 million to acquire the 8.8% investment in iHeartMedia at the end of January.