Media Stocks End Week On A High Note


U.S. financial markets were on the rise Friday, and so were most publicly traded radio and television companies.

Among the big gainers: Audacy, perhaps benefiting from a strong assessment from Wells Fargo Securities released Thursday.

At the closing bell, AUD was up 7.7% to $3.5850 — a sign that a much-needed rebound for the company formerly known as Entercom could finally be happening.

Also up: iHeartMedia, now at $24.76 with a 3.9% climb from Thursday.

Townsquare Media shares were also on the rise, increasing in value by 4.7% to finish at $13.06.

On the TV industry side, The E.W. Scripps Co. saw a 3.4% gain, to $18.69, and Nexstar Media Group was up 1.8% to $148.64.

Not every media company finished Friday’s trading in positive territory. Sinclair Broadcast Group was down 1.1% to $29.97 and Saga Communications declined by 2.2% to $23.45.