Don’t panic … or, try not to. Media stocks slumped along with general indices on a frightful Friday for Wall Street. Another dip was seen for Beasley Media Group. That said, only CBS Corp., Tribune Media and Emmis Communications saw gains.
For those losing ground on Friday, the dips were ugly.
Beasley shares slumped another 3.7%, with trading in the 11am hour exceptionally down-trodden for the radio station owner. Volume was just above average, at 34,406 shares.
When all was said and done, BBGI finished the day at $4.21, matching lows last seen in June 2016.
By contrast, CBS shares were up 14 cents to $48.05 despite its announcement that it has selected 18 recipients of a $20 million grant to support eliminating sexual harassment in the workplace.
This news was eclipsed, however, by the revelation that CBS settled a retaliation claim filed by actress Elizu Dushku at a price of $9.5 million.
Emmis shares were up 16 cents, to $3.85, while Tribune was up 6 cents, to $45.37.
Meanwhile, Cumulus Media slipped 8 cents, to $10.75, while Salem shed 3 cents, to $2.56.
For a complete look at Friday’s Closing Prices, visit the Wall Street Report on the homepage of RBR.com.