As the financial world highly scrutinized cable TV subscriber losses at Charter Communications during Q1, sending the company’s stock in a free-fall from the Opening Bell on Friday, Wall Street wasn’t exactly kind to several other high-profile TV companies. Radio station owners also got caught up in the fracas.
Dish Network was off 5.6%, to $34.74, while Entravision lost 4% of its stock value, dipping to $4.75.
Nexstar Media Group shares were down 3.2%, to $62.75, as Sinclair Broadcast Group shed 2.4% of its value, finishing Friday’s trading session at $28.20.
Among the radio companies swept up in the sell-off is Townsquare Media. The small- and mid-sized market specialist’s shares slipped 5.7%, to $7.32, after a recent brush with the all-important $8 level.
Townsquare hit a five-year low on February 1, when TSQ shares reached $6.96.
Townsquare releases its Q1 2018 results before the Opening Bell on Wall Street on May 8.
For a full look at Friday’s closing prices, please visit the Wall Street Report on the homepage of RBR.com.