A Sea Of Green For Media Stocks


The Dow Jones Industrial Average improved by 1.6% to 25,558.73 points on Thursday, while Nasdaq was 32.41 points to 7,806.52.

Publicly traded radio and television companies contributed to the gains, with most enjoying upward momentum.

The E.W. Scripps Co. moved ahead 36 cents to $14.79 as investors happily accepted the news that the company is selling its remaining 19 radio stations to SummitMedia for $47.5 million.

Sinclair Broadcast Group improved 40 cents, to $28.95, while Nexstar Media Group roared ahead $1.40 to $78.50.

Among radio companies, Entercom inched ahead $0.05, to $7.45, while Cumulus Media improved by a penny, to $17.70.

Beasley Media Group shares saw a welcomed 30-cent rebound to $6.55, while debtor-in-possession iHeartMedia‘s stock improved by nearly three cents to finish at $0.5185.