Key Media Companies Dip On 2020’s First Trading Day


The start of 2020 wasn’t a great one for the nation’s publicly traded radio and TV stations.

While markets were up overall, dips were seen for a host of media companies.

The Dow Jones Industrial Average climbed 330.36 points to 28,868.80; Nasdaq was up 119.58 points, to 9,092.19.

Companies such as Cumulus Media, iHeartMedia, Nexstar, Scripps and TEGNA went in the opposite direction.

CMLS fell 62 cents to $16.95, while, NXST slipped $2.23 per share to $115.02.

SSP declined by 69 cents, to $15.02, as TGNA was down by 33 cents, to $16.36.

Among the few advancers was Viacom, up 12 cents to $42.09.