U.S. media companies publicly trading on Wall Street were swept up in a large slide of stock prices on Friday. Why? It seems investors were reacting to reports that suggested the Centers for Disease Control would announce a third case of coronavirus in the U.S. It is also keeping an eye on 60 more people who may or may not have the illness, Barrons reports.
As of 3:13pm Eastern, the Dow Industrials were down 163.19, to 28,996.10.
Nasdaq was off 79.14 to 9,323.34.
Many media companies were adversely impacted:
- After surpassing the $10 mark, Townsquare Media was off 28 cents, to $9.72
- The E.W. Scripps Co. slid 5.9% to $14.57
- A 3.9% dip was registered by Sinclair Broadcast Group, bringing SBGI to $31.49
- Nexstar Media Group, at record highs, also gave back some of its dollars, slipping $3.79 to $124.86
- Entercom is at $4.50, down 12 cents
- Beasley Broadcast Group stock sits at $3.58, down 6 cents
Not all media companies were down. Emmis was up 9 cents, to $3.84, while iHeartMedia was up by 2 cents, to $17.92.