iHeartMedia Shares Surge 14% on Sirius XM Merger Talk

iHeartMedia shares surged 14% on Friday after Bloomberg reported preliminary merger talks with Sirius XM.
Trading in iHeartMedia stock was halted due to volatility, while Sirius XM fell 6% on the same day.
Both companies declined to comment, and the report noted no guarantee a deal will be reached.
The potential combination would unite the U.S.'s largest radio station owner with the leading satellite radio provider.