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Most radio stocks fell in Q1
With radio pacings still struggling against what were supposed to be easy comps from 2005, it's hardly surprising that the public radio stocks didn't perform well in Q1 of 2006. Of the 28 terrestrial and satellite radio stocks in RBR's chart, only six were up for the quarter. Each has a special story to make it an exception, so the rule for the quarter was a down trend for radio stocks. The best performer was Entravision, up nearly 29%, which stands to become the biggest Hispanic media stock play once Univision is sold. Univision itself rose over 17% as it began to take buyout bids. Disney struck deals to sell its radio operation and buy Pixar, resulting in a stock gain of over 16%. SBS rose over 8%, benefiting from excitement over Spanish media stocks. Fisher rose 8% after announcing its first Spanish TV buy. And Gaylord's 4% rise had noting to do with its single radio station, since it is now almost exclusively a hotel company. For all other radio stocks, Q1 was a downer, with sluggish growth holding back the entire sector. RBR's Radio Index, comprised of 14 stocks whose main business is radio, was down nearly 17% for the quarter. Of the issues not in the penny stock category, Westwood One was the poorest performer, down over 32% after changing CEOs and projecting further revenues declines. Read the chart if you dare.
Year-to-date 2006 radio stock performance
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Radio
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12/30/05
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3/31/06
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2006
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2006
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Company
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Close
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Close
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Net Chg
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Pct Chg
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Entravision
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7.12
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9.16
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2.04
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28.65%
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Univision
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29.39
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34.47
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5.08
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17.28%
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Disney
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23.97
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27.89
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3.92
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16.35%
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SBS
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5.11
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5.53
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0.42
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8.22%
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Fisher
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41.43
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44.75
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3.32
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8.01%
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Gaylord
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43.59
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45.38
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1.79
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4.11%
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Regent
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4.64
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4.61
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-0.03
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-0.65%
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Jefferson-Pilot
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56.93
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55.94
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-0.99
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-1.74%
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Hearst-Argyle
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23.85
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23.36
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-0.49
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-2.05%
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Cox Radio
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14.08
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13.42
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-0.66
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-4.69%
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CBS Cl. A
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25.40
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24.10
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-1.30
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-5.12%
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Entercom
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29.67
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27.92
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-1.75
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-5.90%
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CBS Cl. B
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25.50
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23.98
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-1.52
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-5.96%
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Clear Channel
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31.45
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29.01
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-2.44
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-7.76%
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Cumulus
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12.41
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11.26
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-1.15
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-9.27%
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Beasley
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13.51
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12.13
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-1.38
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-10.21%
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Arbitron
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37.98
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33.82
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-4.16
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-10.95%
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Saga
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10.87
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9.67
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-1.20
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-11.04%
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Journal
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13.95
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12.40
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-1.55
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-11.11%
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Salem
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17.49
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15.01
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-2.48
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-14.18%
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Citadel
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13.44
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11.09
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-2.35
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-17.49%
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XM
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27.28
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22.27
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-5.01
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-18.37%
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Emmis
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19.91
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16.00
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-3.91
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-19.64%
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Sirius
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6.70
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5.07
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-1.63
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-24.33%
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Radio One, Cl. A
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10.27
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7.48
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-2.79
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-27.17%
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Radio One, Cl. D
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10.35
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7.46
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-2.89
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-27.92%
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Westwood One
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16.30
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11.04
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-5.26
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-32.27%
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Interep
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0.36
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0.18
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-0.18
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-50.00%
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Radio Index
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181.30
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164.62
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-16.68
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-9.20%
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©2006 Radio Business Report, Inc. All rights reserved.
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