Radio stocks in line with blah quarter
While their television brethren saw stock prices rise in Q1 as new revenues began to flow in from cable retransmission consent payments, radio had no similar event to excite Wall Street traders. Yes, non-spot revenues are growing well, but Internet revenues are growing for all types of media companies, and the bread-and-butter spot business is still sluggish. So, radio stocks were right in line with a lackluster quarter for the overall stock market. The Dow Industrials ended the quarter down 0.9%, while the S&P 500 and Nasdaq Composite were up just a teensy bit. The Radio Index, compiled daily by RBR based on 13 public companies whose primary business is radio, declined 1.6% for the quarter. Of the 28 stocks tracked daily by RBR, 13 were up for the quarter, 14 were down and one, Entercom, ended exactly where it began. The big gainer was a penny stock. With new CEO David Kennedy taking the helm in February, the radio rep firm gained 70%, although that still brought it to just a penny past a half buck. Another penny stock, Regent, gained nearly 14%. Close behind was Entravision, also up nearly 14%, as it became the largest public company in the fast-growing Hispanic media segment with Univision going private just before the quarter ended.
Here are the full numbers.
Q1 2007 radio stock performance
|
Radio
|
12/29/06
|
3/30/07
|
2007
|
2007
|
|
Company
|
Close
|
Close
|
Net Chg
|
Pct Chg
|
|
Interep
|
0.30
|
0.51
|
0.21
|
70.00%
|
|
Regent
|
2.83
|
3.22
|
0.39
|
13.78%
|
|
Entravision
|
8.22
|
9.34
|
1.12
|
13.63%
|
|
Fisher
|
44.21
|
48.60
|
4.39
|
9.93%
|
|
Arbitron
|
43.44
|
46.95
|
3.51
|
8.08%
|
|
Hearst-Argyle
|
25.50
|
27.19
|
1.69
|
6.63%
|
|
Salem
|
11.95
|
12.50
|
0.55
|
4.60%
|
|
Journal
|
12.61
|
13.11
|
0.50
|
3.97%
|
|
Emmis
|
8.24
|
8.44
|
0.20
|
2.43%
|
|
Univision*
|
35.42
|
36.23
|
0.81
|
2.29%
|
|
Lincoln National
|
66.40
|
67.79
|
1.39
|
2.09%
|
|
Saga
|
9.61
|
9.73
|
0.12
|
1.25%
|
|
Disney
|
34.27
|
34.43
|
0.16
|
0.47%
|
|
Entercom
|
28.18
|
28.18
|
0.00
|
0.00%
|
|
Clear Channel
|
35.54
|
35.04
|
-0.50
|
-1.41%
|
|
CBS Cl. B
|
31.18
|
30.59
|
-0.59
|
-1.89%
|
|
CBS Cl. A
|
31.22
|
30.61
|
-0.61
|
-1.95%
|
|
SBS
|
4.11
|
4.00
|
-0.11
|
-2.68%
|
|
Westwood One
|
7.06
|
6.87
|
-0.19
|
-2.69%
|
|
Radio One, Cl. A
|
6.75
|
6.47
|
-0.28
|
-4.15%
|
|
Radio One, Cl. D
|
6.74
|
6.46
|
-0.28
|
-4.15%
|
|
Citadel
|
9.96
|
9.51
|
-0.45
|
-4.52%
|
|
Sirius
|
3.54
|
3.20
|
-0.34
|
-9.60%
|
|
Cumulus
|
10.39
|
9.38
|
-1.01
|
-9.72%
|
|
XM
|
14.45
|
12.92
|
-1.53
|
-10.59%
|
|
Beasley
|
9.57
|
8.47
|
-1.10
|
-11.49%
|
|
Cox Radio
|
16.30
|
13.65
|
-2.65
|
-16.26%
|
|
SWMX
|
2.10
|
0.85
|
-1.25
|
-59.52%
|
|
Radio Index
|
156.91
|
154.47
|
-2.44
|
-1.56%
|
*taken private 3/28
©2007 Radio Business Report, Inc. All rights reserved.
