Mid-Week Ups and Downs For Media Stocks


There were rises. There were dips. In all, it was just another Wednesday on Wall Street as financial markets saw small rises to close out the mid-week session.

At the Closing Bell, the Dow Jones Industrial Average improved 26.22, to 22,025.21. The Nasdaq composite was up 12.10, to 6,345.11.

Among the key climbers for media companies was Sinclair Broadcast Group, with SBGI shares up 2.1%, to $29.80.

Also up on Wednesday: iHeartMedia. The “stub” of the company’s shares soared 14.7% in the final minutes of trading to finish at $1.95.

Moving downward on Wednesday was Cumulus Media, which lost 4.4%, to finish at 44 cents. Entravision fell 2.2%, to end the day at $5.63.

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

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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.