TEGNA Inc. shares were up by nearly 4% in the final hour of trading on Tuesday, as investors largely cheered the broadcast TV company's announcement that it intends to offer $1 billion of senior notes due 2028 in a private offering.
America's favorite tabloid, the New York Post, recently reported that the Justice Department may scrutinize a plan by Liberty Media -- parent of Sirius XM and Pandora -- to gain majority control of iHeartMedia. Investors appear to be energized by the suggestion.
Don't look now, but Entercom Communications shares have retreated to their lowest prices since November 22, erasing a rally that brought ETM to levels last seen before its early August meltdown. Is the current dip nothing to fret about, or a harbinger of a difficult quarter to come?
The start of 2020 wasn't a great one for the nation's publicly traded radio and TV stations. While markets were up overall, dips were seen for such companies as Cumulus Media, iHeartMedia, Nexstar, Scripps and TEGNA.
Here's the good news: Sinclair Broadcast Group's stock will finish 2019 ahead of where its started the year, by nearly $4.50 per share. Here's the bad news: The second half of the year was full of consistent declines that erased healthy growth seen through early July for the TV station owner that now has the former Fox regional sports networks.
There's a popular source of music that's the darling of Wall Street watchdog Zacks Equity Research, earning it the "Bull of the Day" honor on Friday. It's not a radio broadcasting company, but one is getting honorary mention for its particularly strong Q3 and soft share price as of late.
On April 23, a $117.65 close marked a new high on Wall Street for shares of Nexstar Media Group. Over the next several months, the broadcast TV company's stock price would recede before gaining steam once again, repeating a pattern seen across the years for NXST. If midday trading on Thursday is any indication of what's to come for Nexstar, a fresh all-time high for the stock is inevitable.
The last full trading week of 2019 is underway. For those tracking radio industry stocks, two companies stick out for their strong performance as the clock winds down to 2020. For a third company, its shaky health in the second half of the year -- punctuated by a sharp drop on Monday -- is attracting the attention of industry observers and investors.
ViacomCBS has struck a definitive agreement with beINMEDIA GROUP to acquire a 49% stake in global film and production studio Miramax — best known for its award-winning film library including such box office faves as "Good Will Hunting" and "Kill Bill" and for its co-founder, Harvey Weinstein. A major Los Angeles-based law firm represented ViacomCBS in bringing the investment to fruition.
An SEC filing indicates that a subsidiary of Atlantic American Corp. is now a significant shareholder of Gray Television stock. The company's shares were in positive territory for all of Thursday, closing up 3.4% to $21.45 — its highest price since early May.
The E.W. Scripps Company on Wednesday completed the repricing of its $765 million term loan B maturing in 2026. In doing so, it reduced the interest...
On double its average volume, Salem Media Group shares slumped to a fresh 10-year low, putting it at prices not consistently seen since summer 2009. The 2% dip from Monday's close comes as Salem stock on Friday will go ex-dividend.
Entercom Communications shares rose 5% on Monday, with gains seen across the day's trading. The gain puts ETM above the $5 mark for the second time in December, and at its highest closing price since late July. At the same time, Townsquare Media had another excellent trading session on the NYSE.
What a difference a good rumor makes. Both The Wall Street Journal and Marketwatch are reporting that John Malone’s Liberty Media has asked the Justice Department for permission to buy a larger piece of iHeartMedia. That alone ignited iHeart shares on Friday, with more than 1 million shares traded on average volume of 330,140 by Noon ET.
Historically, Saga Communications has been one of the radio industry's best performers on Wall Street, with positive analyst reviews. Now, the company led by Ed Christian is rewarding investors with another big dividend declaration.