Media stocks were largely on the rise through mid-afternoon on Friday, including Townsquare Media, Sinclair Broadcast Group, Nexstar Media Group, and Cumulus Media. On the other hand, Entercom gave back a third of Thursday's gains. For live in-session trading and Friday's closing prices after 4:10pm Eastern, be sure to visit the Wall Street Report on the RBR.com homepage!
Oh, those finicky investors! One day after dipping to its second-lowest post-bankruptcy low, Cumulus Media shares exploded in heavier-than-usual trading on the Nasdaq Global Select market. Wednesday’s trading session finished with CMLS up by more than 21%.
The ViacomCBS Board of Directors has declared a quarterly cash dividend to holders of both the company's Class A and Class B common stock.
An experimental COVID-19 vaccine from Moderna Inc. has showed promising results in a tiny early-stage trial. But that, and the HEROES Act's House passage, buoyed investors on Monday, with the Dow 30 rising 911.85 points to 24,597.37 and Nasdaq surging 220.27 points to 9,234.83.
It was a pretty ordinary trading session for Entravision Communications. Then, 1pm Eastern came -- and so did a big surge in the media company's stock price. What happened?
The COVID-19 pandemic has brought economic pain to many a broadcast media company. In the case of African American-focused media entity Urban One, it now includes a notice from Nasdaq that its Class D common stock is not in compliance with its listing rule.
Wednesday was a miserable day for Wall Street, as the Dow 30 tumbled by 2.2% and the Nasdaq was down 1.6%. How did media stocks fare? Cumulus Media bounced back from Tuesday's dip with a 7.3% gain. Otherwise, don't ask.
Sinclair Broadcast Group indirect subsidiaries Diamond Sports Group and Diamond Sports Finance Company are moving ahead with a private exchange offer for any and all of the issuers' outstanding 6.625% Senior Notes due 2027 for newly issued 12.750% Senior Secured Notes due 2026 — and a cash payment on the terms.
Cumulus Media released its Q1 2020 financial results on Monday, which RBR+TVBR was first to report. Did the audio media company's first three months of the year meet the expectations of analysts polled by Zacks? Unfortunately, no. Did this propel CMLS to finish Tuesday's trading at a new post-bankruptcy low?
Meredith Corp. is already into the fourth quarter of its fiscal 2020, and as such its full-year numbers will likely look a bit stronger than those companies that opt to use a calendar year rather than celebrating New Year's Day on July 1. What does Meredith's third quarter look like? We'll find out early Thursday.
Wall Street reacted positively to news that historic job losses -- the worst since the Great Depression -- weren't as bad as previously feared. Nasdaq climbed 141.66 points to 9,121.32 as the Dow Jones Industrial Average improved by 455.43 points, to 24,331.32. How did media stocks fare?
The E.W. Scripps Co. on Friday will become the latest broadcast TV company to release its first-quarter 2020 results. One day ahead of the distribution of those numbers, the Scripps board declared a cash dividend. Is that why Scripps shares surged across Thursday morning's trading session? Perhaps. But who has snatched up SSP stock recently may be of note.
How bad is the COVID-19 pandemic damage on one of the world's biggest and most influential media and entertainment businesses? It's pretty disappointing, as The Walt Disney Co. failed to meet Street expectations with respect to the net income it reported Tuesday.
Andy Lack is leaving. And, the top executive overseeing NBCUniversal Telemundo Enterprises is taking over his role as part of a wholesale restructuring. An official announcement arrived seconds before RBR+TVBR's Monday deadline of 4:30pm Eastern that flushes out the details, and it confirms a big promotion is in the works for Cesar Conde.
Nexstar Media Group's Board of Directors has signed off on a sizable quarterly cash dividend — a positive sign that came just before the latest setback for media stocks on Wall Street.