Wall Street

Stocks Move Downward To Start Week

U.S. financial markets moved downward on Monday, with the Dow Industrials shedding 320.04 points to finish the day at 35,650.95 and the Nasdaq index losing 217.32 points, finishing at 15,413.28. While the general indices were down, several broadcast media industry stock prices finished the day in the green.
Michael Nathanson

As Rumored, MoffettNathanson Is Sold to SVB

When it comes to Wall Street wizards who have an active pulse on broadcast media, there are perhaps no two more-attuned analysts than Craig Moffett and Michael Nathanson. Over the last several years, their MoffettNathanson has served as a leading voice of how media companies are performing and trending. Soon, their equity research firm will be a sibling to Silicon Valley Bank.

Cumulus Shares Enjoy A Strong Session

It's long-term outlook looks good. But, the next nine months aren't so rosy for Cumulus Media, say Wall Street analysts. Yet, as soon as Jessica Rosenworcel scored the approval of Congress and officially took the role as Chairwoman of the FCC, Cumulus shares went from sour to sweet on Wall Street.
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Stocks Gain Green As ‘Omicron’ Worries Wane

Is the Omicron variant of the COVID-19 a worry Wall Street need not push to much focus on? On Monday, that answer appeared to be a "yes," as financial markets were up broadly. Media stocks rode the wave upward. But, 3 notable decliners were seen.
Wall Street

Media Stocks End Week On Mixed Note

While the Dow Industrials and Nasdaq indices were both down on Friday, broadcast media stocks saw mixed activity. Among the key gainers are Townsquare Media, TEGNA, Sinclair Broadcast Group, and iHeartMedia.

Salem to Present at ‘Best of the Uncovered’ Investor Event

The media company known for its conservative Talk radio programming and its non-secular media assets serving Christians will see its C-Suite leadership present at the upcoming Singular Research "Best of the Uncovered" Investor Conference.
Meredith

As Expected, Gray Closes On Its Meredith Merger

Meredith Corporation as you knew it is now another faded company of broadcast media's past, as Gray Television on Wednesday completed its $2.8 billion merger and subsequent spin-off of its non-local broadcast television assets to the Barry Diller-led IAC.
Townsquare Media Group

Townsquare Leaders Prep For Latest Investor Conference

When it comes to the top leadership at Townsquare Media, drumming up interest from institutional investors has been seen since the days of Steven Price and Dhruv Prasad, who each held the role of CEO prior to Bill Wilson. Next week, Wilson will be presenting alongside Townsquare's CFO at another key investor affair.

Beasley Stock Dip Erases Most 2021 Gains

With Monday's Closing Bell on Wall Street, Beasley Media Group shares have nearly erased all of its 2021 momentum. As such, the stock is ever-closer to its pandemic-era lows and more than $11 per share below where it stood four years ago.
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Audacy Shares Dip To New 2021 Low

Just days after President/CEO David Field snapped up more shares of his company's stock, Audacy Inc. stock on Wednesday continued its month-long downturn. As the clock struck 2pm Eastern, AUD was down to a price last seen in late December 2020.

David Field Snaps Up More Audacy Stock

With Audacy Inc. shares just five cents higher than where they sat on January 4, the company's Chairman and President/CEO has acted by acquiring nearly 120,000 shares of stock in the audio content and distribution company he leads.
Audacy executives virtually ring the Opening Bell for trading on NYSE Friday (4/9), as "ETM" officially changed to "AUD" as the company's ticker symbol following last week's name change from Entercom.

On Heavy Trading, Audacy Shares Erase 2021 Growth

In mid-February 2021, Audacy Inc. shares were priced at $6.26 per share, swiftly rising from a $2.80 per share price seen in early January. By mid-March, a slow and steady deceleration for the company's NYSE-traded stock would commence. By November 1, AUD seemingly seemed content on staying in the mid-$3 range. With Thursday's Closing Bell, Audacy's shares have now retreated to where they sat on January 4.

‘A Return to Normalcy Modifies Media Disruption’

A hybrid return to normalcy offers a brighter outlook for film and broadcast station advertising, while posing challenges to momentum for subscription streaming, broadband and global pay TV amid persistent semiconductor supply constraints. That's according to the just-released 2022 Technology, Media, and Telecom (TMT) Outlook from S&P Global Market Intelligence.

Spotify Acquires an Audiobook Operation

Spotify Technology S.A. has entered into a definitive agreement to acquire a company described as a "global leader in digital audiobook distribution." Terms of the transaction were not disclosed.
Townsquare Media Group

Townsquare Media To Participate in Q4 Virtual Investor Summit

Townsquare Media CEO Bill Wilson and CFO Stu Rosenstein are confirmed as attendees of the upcoming "Q4 Virtual Investor Summit." For Wilson, the event comes just 24 hours after the conclusion of Forecast 2022, for which he is a co-chair.
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