A report on a sluggish economy was expected, and the fact that it wasn’t any worse than expected, along with talk of possible employment-building moves from the Fed inspired confidence among traders. Unfortunately, dealers of CC Media stock didn’t seem to get the memo – it lost 12% of its value.
The RBR Radio Index rose 2.124, or 0.6%, to 385.202.
The TVBR Television Index rose 7.138, or 3.1%, to 236.292.
Belo, up 8.8%
LIN, up 8.2%
Radio One, up 6.1%
CC Media, down 12.0%
Entravision, down 0.8%
Cumulus, down 0.8%