Is no news good news for investors in broadcast media companies? Monday marked a tepid trading day for the nation’s radio and TV firms with publicly traded shares.
It could have been worse — look at Netflix. The digital entertainment giant’s stock dipped 2.8%, to $318.69, on Monday after the company revealed it was issuing $1.5 billion of junk bonds to finance its big spending plans.
For radio stocks, Beasley Media Group continues to be a standout performer in 2018. BBGI stocks gained another dime, growing to $11.40.
Entercom saw another important move forward, gaining 22 cents to $10.27.
On the flip side, TV station owner Nexstar gave back 15 cents, falling to $64.30. Sinclair Broadcast Group was down 35 cents, to $29.05.