Cumulus suffered another loss in its share value
Mid-week trading ended with a mixed bag of activity on Wall Street, with a Wednesday trading session that saw the Nasdaq composite climbing 13.56, to 5,863.03, while the Dow Jones Industrial Average dipped 118.79, to 20,404.49, and the S&P500 slipped 4.02, to 2,338.17. It was a decisively challenging session for SBS, as the Hispanic-targeted media company saw its shares fall another 12.5%, to a paltry 49 cents per share.
Nexstar Media Group shares have seen somewhat of a decline since Sinclair's announcement that it intends to acquire Tribune Media, and the dip resumed in a big way on Wednesday.
U.S. financial markets saw gains on Wednesday, as the Dow Jones Industrial Average climbed 66.02, to 21,640.75, and the Nasdaq Composite jumped ahead 40.74, to 6,385.04. Among the key advancers were Townsquare Media and The E.W. Scripps Co.
Broadcast TV companies enjoyed a mid-afternoon rebound on Wall Street Friday, with The E.W. Scripps Co. and Nexstar Media Group each enjoy upward momentum as investors eyed the Closing Bell and the Labor Day weekend.
U.S. financial markets dipped on Thursday, and TV industry companies did their part in dragging down the overall market, as fears over cord-cutting viewed by AT&T impacted others. Viacom sank to a five-year low with a 2.6% dip, but they have more than cord-cutters to contend with right now: It needs a new accord with Optimum by Sunday night or its channels go dark in NYC and L.A., among other locales.
The publicly traded "stub" of iHeartMedia shares took a beating on Wall Street today, sliding to 60 cents in midday trading before settling with a 6.6% dip, to 85 cents. Why the sharp drop for iHeart? On Wednesday, just before the Thanksgiving Day holiday, it extended -- yet again -- the deadline for participation in its Term Loan Offers, Exchange Offers and Consent Solicitations. Meanwhile, Entercom went ex-Dividend today. We have all of the details.
In late December 2017, Beasley Broadcasting Group shares moved past the $14 mark. Since then, BBGI shares had been on the retreat. That ended today, thanks to a 3.9% gain that puts BBGI stock above $13 once again - and near its all-time peak levels.
U.S. financial markets ended the week with a bang on Friday, as the Dow Jones Industrial Average soared 347.51 points, to 25,309.99, and the Nasdaq composite index surged 127.31 points, to 7,337.39. Widespread gains were seen across the media landscape — although Beasley Media Group, Salem Media Group and Pandora had a down day. Meanwhile, what's up with iHeartMedia?
U.S. financial markets moved upward on Thursday to continue its topsy-turvy activity, as the Dow Jones Industrial Average rebounded 293.53 to 24,482.98. The Nasdaq composite index surged ahead by 71.22 points, ending the day’s trading session at 7,140.25.
Friday, June 1, will be the final day that The E.W. Scripps Co. will see its stock bought and sold on the New York Stock Exchange. Come Monday, June 4, the company's shares will be on a different exchange. For investors, Scripps hopes the shift will be seamless and transparent -- the company's ticker symbol is staying as is.
General indices improved on Wednesday, but several key media companies -- including Entercom and Nexstar Media Group -- saw dips in their stock prices. Here's the recap from Wall Street.
A whole new era for Cumulus Media shares commenced this week as the old "CMLS" ticker symbol roared back to life on Nasdaq. On Friday, Cumulus enjoyed a nearly 9% gain. What other companies were up and down to end the week? Click here for the details.
Spanish Broadcasting System shares dipped 20% on Thursday, on volume that was about average. What does that mean for SBS? That's what many market observers may be asking, as the company comes precariously close to a matching its stock's all-time low, achieved in December 2017.
Companies ranging from Snap Inc. and Amazon to Netflix and Apple saw another tough trading session on Wall Street, with declines on Monday. For radio and TV companies, the performance was largely OK. That said, Veritone Inc. shares are at a new low.