Media Companies Gain as Wall Street Slips In Thursday Trading


U.S. financial markets finished the day on a downbeat note, with the Dow Jones Industrial Average dipping 64.03 to 35,341.47 and Nasdaq declining by 53.78, to 14,988.08.

For broadcast media companies, trading was mixed, with iHeartMedia among the climbers. The nation’s top audio media company saw its shares jump by 18 cents to $24.46.

Also up: Salem Media Group, with its shares rising 10 cents to $3.01.

For Audacy, it was another downbeat trading session despite a glowing report from Wells Fargo Securities that includes a $7 target price for AUD.