iHeartMedia (NASDAQ:IHRT) shares are trading higher on Monday after the company launched the "iHeartSports Network" delivering timely sports reports across more than 500 broadcast stations nationwide.

iHeartMedia is a U.S-based diversified media and entertainment company. It operates its business through two segments; Audio and Audio & Media Services. Its Audio segment which derives majority revenue offers broadcast and digital radio, online and mobile services and products, traffic and weather data distribution, outdoor advertising services.

iHeartMedia shares are trading up 10.72% at $8.78 on Monday. The stock has a 52-week high of $19.69 and a 52-week low of $4.31.