A Sea Of Red For Media Stocks


U.S. financial markets saw plenty of downward activity on Thursday, as the Dow Jones Industrial Average fell 115.78 points to 27,219.85 and Nasdaq was off 37.59, to 8185.21.

For radio and TV companies, there were no gains to be seen.

Among the decliners was Beasley Broadcast Group, with its shares down 3.11% to $3.11.

Also down on Thursday: Sinclair Broadcast Group, off 3% to $56.77. However, unlike Beasley, Sinclair is coming off a year-to-date high.

Other decliners include Townsquare Media, off 4.4% to $5.48, and Entravision, down 3.6% to $3.32.