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.
Cloud Music shares rose 10.5%, leading the Billboard Global Music Index’s 3.6% increase this week.
The consortium that took Believe private in 2024 will bid 15.30 euros ($17.40) per share for the remaining 3.3% of outstanding shares.
While many music stocks rebounded after the U.S. Treasury paused tariffs for 90 days, only Live Nation has posted a gain over the last two chaotic weeks.
iHeartMedia, which was one of eight music stocks to drop more than 10%, fared the worst with a 26.8% decline.
Nearly all music stocks fell on Thursday (April 3), with the radio and live music sectors hit particularly hard.
Korean companies fared well even as the 20-company Billboard Global Music Index fell 2.9% due mainly to declines by Spotify, Warner Music Group and CTS Eventim.
The Chinese streaming company gained 11.6% as the 20-company Billboard Global Music Index rose 3.0% to 2,533.53.
The company's shares dropped on major shareholder Pershing Square’s plan to sell 50 million shares, capping off a rough week for most music stocks.
