By Will Feuer

Audio-media company iHeartMedia Inc. said it plans to create events and experiences in the metaverse for listeners through a partnership with Roblox Corp.

IHeartMedia Chief Executive Bob Pittman said it would leverage its reach across various platforms and its existing broadcast and podcast hosts to bring more awareness to web3 and the metaverse.

The company plans to launch a series of nonfungible tokens and create a tokenized community that would give fans unique access to new offerings, it said.

IHeartMedia stock rose more than 1% in early morning trading. Shares climbed 62% last year, outpacing the S&P 500's rise.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

01-12-22 1037ET