A Turbulent Thursday For Media Stocks


It may have been a mixed day on Wall Street for the two key indices, but today brought a particularly bumpy trading session for media stocks.

Urban One grew 4.8% of its share value, rising to $2.20, while Gray Television (up 2.6%, to $12.82) and Entravision (up 2.7%, to $5.80) also paced media stocks.

On the downside, iHeartMedia slid 15%, to $1.65, while Charter Communications shed 2.5% of its stock value, ending at $337.45.

Beasley Broadcast Group declined 3.3%, to $10.35, despite an announcement that its Board of Directors declared a quarterly cash dividend of $0.045 per share of its Class A and Class B common stock. The dividend is payable on July 7 to shareholders of record on June 30.

Also down were CBS Corp., DISH Network, and Spanish Broadcasting System, which saw a steep 23.3% dip, to 92 cents.

For a complete look at today’s closing prices, simply visit the RBR.com homepage.