Mediaco Hldg Inc Stock Price, News & Analysis

MediaCo Holding Inc. (NASDAQ: MDIA) and Trace have announced a strategic joint initiative to expand the global reach of Hip Hop and Afro-Urban culture. The partnership, revealed at the Trace Awards & Summit in Zanzibar, combines MediaCo's HOT 97 and WBLS brands with Trace's international media presence.

The collaboration focuses on three key areas:

• Co-producing and distributing exclusive content across digital and streaming platforms
• Co-hosting the Annual Trace Awards and other major events
• Developing new advertising and distribution strategies to increase reach and monetization

This alliance represents the first partnership between a major U.S. Hip Hop platform and a leader in African and global diaspora media, aiming to create a unified platform for music, culture, and community engagement.

MediaCo Holding Inc. (Nasdaq: MDIA) has fully repaid a $7.3 million convertible promissory note held by Emmis Communications in cash. Following this repayment, Emmis representatives have resigned from MediaCo's Board of Directors. The company, formed through the merger of WBLS, Hot97, and Estrella Media network, operates multiple broadcasting assets including FM radio stations and TV stations across major U.S. markets. MediaCo's portfolio includes the Estrella Television Network with over 20,000 hours of original content and 24/7 Spanish-language news, as well as iconic radio stations like WBLS and Hot97.

MediaCo Holding Inc. (Nasdaq: MDIA) has received a deficiency notification from Nasdaq due to its delayed filing of the Q2 2024 Form 10-Q. The company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports. MediaCo has until October 21, 2024 to submit a compliance plan and until February 17, 2025 to regain compliance.

The delay in filing was due to matters described in the Form 12b-25. MediaCo intends to submit a compliance plan and work diligently to file the delayed report. The notice has no immediate effect on the listing of MediaCo's Class A common stock, which continues to trade on The Nasdaq Capital Market under the symbol MDIA.

WhiteHawk Capital Partners announced a $45 million first lien term loan facility with MediaCo Holding on April 17th, 2024. MediaCo used the proceeds to acquire Estrella Media’s network, content, digital, and commercial operations, enhancing its portfolio with Spanish-language video, audio, and digital content. This acquisition expands MediaCo's reach to include Estrella Media's established Mexican radio stations, such as Que Buena Los Angeles and La Raza in Houston and Dallas. The combined footprint positions MediaCo as a leading provider of Spanish and Urban music in both terrestrial radio and audio streaming.