Broadcasting Stocks

The Dow Jones Industrial Average slipped 18.77, to 18,142.42, as Viacom named Robert Bakish its third acting CEO

In a move designed to shore up investor confidence -- and take advantage of what the C-Suite likely believes is an undervalued stock -- the CEO of the company that owns 17 television stations in markets such as Phoenix, Nashville and Portland, Ore., has purchased 10,000 shares of his employer's common stock on the open market. The purchase by Tom Harty is valued at $289,000.

Spectrum parent Charter Communications said following Tuesday's Closing Bell on Wall Street that its subsidiaries, CCO Holdings LLC and CCO Holdings Capital Corp., have closed on $1.35 billion in aggregate principal amount of senior unsecured notes due 2030.

It was a tale of ups and downs for many companies reporting Q3 earnings results this week. For Discovery Communications, gains on Wall Street were seen after the company offered results that beat FactSet consensus estimates. For Entravision, a 19.2% slide in its stock value came following the release of its earnings performance Wednesday afternoon.

Urban One has disclosed to the Securities & Exchange Commission that it has gained another extension from Bank of America and its lenders to file its quarterly reports for the first half of 2023 — a significant delay caused by the company's firing of BDO and subsequent hiring of EY to get its financials in order.