Government musical chairs – 11/8/11


First Greece – and now Italy is getting a new government. World stock markets reacted favorably to Italian Premier Silvio Berlusconi saying he would step down after losing a key vote in parliament. The Dow Jones Industrial Average rose 102 points, or 0.8%, to 12,170. Broadcasting stocks rode the wave. SBS more than doubled, with no real news to account for the move, except that CEO Raul Alarcon exercised stock options to buy 10,000 more shares at $1.03 each.

The RBR Radio Index was up 31.481, or 10.4%, to 332.910.

The TVBR Television Index was up 4.011, or 1.7%, to 247.547.

SBS, up 102%
Emmis, up 5.5%
Fisher, up 5.1%

Entercom, down 3.9%
Beasley, down 3.8%
Sinclair, down 1.9%