Horrible Hump Day For Media Stocks


Sinclair Broadcast Group and Nexstar weren’t the only media companies to experience sharp declines in share value on Wednesday.

In fact, only Entravision, iHeartMedia, and Tribune Media saw gains as general indices sailed southward.

The Dow Jones Industrial Average careened 800.49 points, landing with a thud at 25,479.42.

The Nasdaq was off by 242.42 points, falling to 7,773.94.

For Tribune, a 1-cent gain to $46.60 was seen.

Meanwhile, IHRT improved by 36 cents to $13.46 ahead of the company’s Q2 2019 earnings release on Thursday — its first since emerging from bankruptcy protection.

Entravision stock gained a penny, to $2.76.

Decliners include Beasley Media Group, down 5 cents to $3.22, and both CBS and Viacom.

For a full look at today’s closing prices, view the Wall Street Report on the homepage of RBR.com.