A Red Thursday For Radio, TV Stocks


U.S. financial markets were largely mixed on Thursday, as the Dow Jones Industrial Average fell 22.86 points, to 21,784.78, and the Nasdaq Composite index climbed 4.55 points, to 6,397.87.

For media companies, the movement was decisively downward.

CBS Corp. fell 2.1%, to $60.50, as DISH Network tumbled 3.7%, to $55.49.

Grey Television was off 2.5%, to $14, while Nexstar Media Group declined 2.9%, to $59.15.

The day’s biggest decliner? Sinclair Broadcast Group, which slumped 4.1%, to $28.40.

The dips came as the House E&C Subcommittee on Communications and Technology held a morning hearing on Capitol Hill that addressed repack expenses incurred by broadcast media, namely TV companies.

For a complete look at today’s closing prices, please visit the Wall Street Report at RBR.com’s homepage.