MediaCo Holding shares jump 20.75% after-hours after launching Sigma Audio Networks, a new multicultural audio network.

MediaCo Holding surged 20.75% in after-hours trading following the announcement of Sigma Audio Networks LLC, a multicultural audio network designed to streamline national advertising campaigns for Hispanic, Black, and bicultural audiences. The initiative addresses longstanding fragmentation in multicultural radio buying by consolidating premium programming, digital audio, and live experiences into a scalable platform, leveraging MediaCo’s established brands like HOT97 and the Estrella Network. The move is positioned to enhance advertiser efficiency and capitalize on the growing U.S. multicultural demographic, aligning with modern agency workflows and signaling strategic growth through syndication and creator partnerships. The stock’s sharp rise reflects investor optimism about the network’s potential to drive revenue and market share expansion.