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Stocks on a roll - - a downhill roll

If you're an active investor in broadcast stocks, 2005 has not been a happy time. Radio stocks are an out of favor sector. Unless you somehow managed to divine which four radio stocks, out of the 29 in our daily list, would gain so far this year, you've lost money. In all fairness, one of those four isn't much of a radio stock, since Gaylord is now primarily a hotel company and only owns one station, with Cumulus selling its inventory. And Arbitron doesn't own any radio stations, but rather it sells ratings data to most major radio station owners. So, the only real radio stocks which posted gains for the first five months of this year were Regent (a pure play radio company) and Fisher (TV, radio and a bit of real estate). Even the formerly high-flying satellite radio companies have had their wings clipped this year. The stock prices of both Sirius and XM are down double digits so far this year. The RBR Radio Index was down 12.29% through May and only 16 radio stocks did better than that. Here's the full list.

Radio stock performance
First five months of 2005

Radio

12/31/04

5/31/05

2005

2005

Company

Close

Close

Net Chg

Pct Chg

Regent

5.30

6.00

0.70

13.21%

Fisher

48.88

50.84

1.96

4.01%

Arbitron

39.18

40.34

1.16

2.96%

Gaylord

41.53

42.03

0.50

1.20%

Cox Radio

16.48

16.27

-0.21

-1.27%

Disney

27.80

27.44

-0.36

-1.29%

Jefferson-Pilot

51.96

50.40

-1.56

-3.00%

Hearst-Argyle

26.38

24.96

-1.42

-5.38%

Viacom, Cl. B

36.39

34.29

-2.10

-5.77%

Viacom, Cl. A

37.08

34.44

-2.64

-7.12%

Journal

18.07

16.75

-1.32

-7.30%

Emmis

19.19

17.76

-1.43

-7.45%

Entercom

35.89

33.20

-2.69

-7.50%

Beasley

17.53

16.08

-1.45

-8.27%

Univision

29.27

26.61

-2.66

-9.09%

Entravision

8.35

7.43

-0.92

-11.02%

Clear Channel

33.49

29.23

-4.26

-12.72%

XM

37.62

32.11

-5.51

-14.65%

Cumulus

15.08

12.49

-2.59

-17.18%

SBS

10.56

8.65

-1.91

-18.09%

Saga

16.85

13.80

-3.05

-18.10%

Sirius

7.62

6.01

-1.61

-21.13%

Radio One, Cl. A

16.10

12.62

-3.48

-21.61%

Radio One, Cl. D

16.12

12.60

-3.52

-21.84%

Westwood One

26.93

19.85

-7.08

-26.29%

Citadel

16.18

11.87

-4.31

-26.64%

Salem

24.95

18.17

-6.78

-27.17%

Interep

0.75

0.50

-0.25

-33.33%

Intl. Bcstng.

0.02

0.01

-0.01

-50.00%

Radio Index

229.85

201.60

-28.26

-12.29%




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