A Mixed Thursday On Wall Street For Media Stocks


U.S. financial markets propelled forward on Thursday, with the Dow Jones Industrial Average climbing 70.57, to 24,211.48, and the Nasdaq Composite rising 36.47, to 6,812.84. But, media stocks were mixed, with Nexstar rising again but several other companies seeing losses on Wall Street.

At the Closing Bell, TV broadcast company Nexstar was up 70 cents, to $71.90.

Also up was Sinclair Broadcast Group, gaining $1.25 to $35.40.

Gray Television gained 38 cents, to $15.18, while Beasley Broadcast Group improved by 45 cents, to $11.35.

Losing ground in Thursday’s trading was Townsquare Media, off 8 cents to $7.77.

Meanwhile, the publicly traded shares of Spanish Broadcasting System (SBS) dipped by a penny, to 34 cents.

Cumulus Media shares, trading as “CMLSQ,” were at 9 1/2 cents at the Closing Bell.

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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.