Media stocks drowned in a sea of red on Wednesday, as a host of publicly traded media companies saw deep drops in their stock value.
Among the key movers was Cumulus Media, which sank by 25.6% to finish the day at 29 cents a share.
Also off ahead of tomorrow’s release of their Q1 2017 earnings results is iHeartMedia. The company’s stock fell 0.9%, to $2.15.
21st Century Fox‘s Class A shares were also among the big decliners, dipping 5%, to $28.88.
For a complete look at today’s activity on Wall Street, please visit the Wall Street Report on the homepage of RBR.com.