Broadcasting Stocks

Media stocks ended the week on a largely positive note, aside from SiriusXM, which saw a deep dive on Wall Street as investors reacted to a rate hike in royalty fees for the satcaster. Among the gainers: Beasley, Entercom, and Gray Television.

The rumors are true: CBS Corp.'s Board of Directors on Thursday discussed the possibility of a merger with Viacom. Official word came after CBS's board approved a quarterly dividend on the company's stock of 18 cents per share. Both conversation pieces helped CBS see a healthy gain on Wall Street in Thursday's trading. Meanwhile, investors punished Meredith Corp. following its Q4 earnings release.

It's not the best time to be a long-time holder of Salem Media Group stock. The conservative and Christian-theme media company finished Tuesday's trading at an all-time low.

U.S. financial markets were largely mixed on Tuesday, with Nasdaq rising 64.44 to 7,130.70, as the Dow Jones Industrial Average dipped 64.10 to 24,099.05. The mixed activity extended to media stocks. Among the key decliners: Sinclair Broadcast Group, which has retreated to lows not seen since mid-September.

Emmis Communications has emerged as one of the radio industry's stars on Wall Street. It's gone nowhere but up since the start of 2018, and after some recent profit-taking resumed its climb in value in Thursday's trading. Could a new three-year high be on the way?

While some may privately believe that Tribune Media's future depends on a buyer, an aborted merger with Sinclair Broadcast Group could very well position another able-bodied suitor to show up on Michigan Avenue with a proposal. For Sinclair, the future may be a bit bleaker. Do investors feel this way? It appears so, based on Tuesday's activity on Wall Street.

Its average volume is no more than 7,000 shares. But, its current value is higher than radio industry heavyweights such as Beasley Broadcast Group and Entercom. It's a new era for Cumulus Media, and its stock is approaching $20 a share.

Among the media companies that have struggled of late on Wall Street, Salem Media Group is perhaps one of the more notable operators. On Thursday, the owner of conservative talk and Christian-themed radio stations saw its shares drop to a level that brings its perilously close to a new five-year low.

U.S. financial markets slumped on Monday, with the Dow Jones Industrial Average sliding 395.78 points to 25,017.44, and Nasdaq off 3% with a 219.40-point slump to 7028.48. Many media companies significantly lost ground, including Entercom and Nexstar.

It seems the pending exit of co-CEO Dhruv Prasad from Townsquare Media Group is great news to investors. Since the announcement, TSQ has been in rebound mode. On Tuesday, it climbed above the $6 mark.

With a declaration that radio is not dying anytime soon but is "merely evolving," Seeking Alpha says a reconstituted, post-bankruptcy Cumulus is printing dollars. How so? Here's its explanation of why the No. 3 licensee of radio stations is on solid footing, even as it pares down assets.

Two key issues making headlines over the last two weeks, coupled with renewed questions about its post-CBS acquisition business model, could be key factors in what's ailing Entercom stock. On Friday afternoon, it was fighting against a fresh five-year low.

DISH Network's Q1 results met both EPS and revenue estimates, while its loss in net pay-TV subscribers was in line with the Street. Still, Pivotal Research Group's new Entertainment sector analyst is wary about the DBS world, and says a DirecTV tie-up is inevitable.

U.S. financial markets ended the week on a down note, with the Dow Jones Industrial Average falling 17.16 points to 26,089.61. Nasdaq was off 40.47 points, to 7796.66.

Up until 1pm Eastern on Friday, all looked well for Sinclair, with trading in positive territory. Then, with seemingly no warning, SBGI began a steep slide. What triggered the sell-off? A whiff that doesn't even involve Sinclair ... yet.