There were a number of possible explanations put forward for starting off the third quarter of 2013 on an upbeat, so take your pick and bank your winnings – if you are holding broadcasting stocks, on average you gained a little, although results were very mixed. Overall, TV outperformed radio.
The RBR Radio Index rose 4.820, or 0.7%, to 652.339.
The TVBR Television Index rose 9.218, or 1.3%, to 709.960.
Gray, up 6.0%
Salem, up 5.9%
LIN, up 4.4%
CC Media, down 6.0%
Radio One, down 5.6%
Nexstar, down 2.7%