Entercom Powers Media Stocks On Tepid Tuesday


There was little movement on U.S. financial markets on Tuesday (4/11), as the Dow Jones Industrial Average slipped 6.72, to 20,651.30. Nasdaq was off 14.15, to 5,866.77.

But, Entercom Communications — the company merging with CBS Radio in a Reverse Morris Trust-fueled transaction — enjoyed an up day on Wall Street with a 55-cent gain, to $13.90.

Also enjoying a gain was Meredith Corp., up 70 cents, to $64.40. The Walt Disney Co. gained 66 cents, to $113.09.

It was another difficult trading session for Cumulus Media, as shares dipped 0.0075 cents to $0.2714 on news that Moody’s had downgraded the company.

For more on Cumulus and on today’s activity on Wall Street for media companies, just click on the homepage for RBR.com.