Media Stocks End Week On Largely Positive Note


U.S. financial markets ended the week with gains, ahead of the Dr. Martin Luther King, Jr., holiday on Monday. The Dow Jones Industrial Average soared 336.25, to 24,706.35, while Nasdaq was up 72.76 points, to 7,157.23.

Among the gainers: Nexstar Media Group.

The broadcast TV company seeking to merge with Tribune Broadcasting saw its shares improve by 44 cents from Thursday, to $83.45. In early after-hours trading on Friday, another 8 cents was tacked on to that price.

After falling to $71.81 on Christmas Eve after reaching a record high in early December, Nexstar shares have quickly bounced back.

They carry a 1-year target estimate of $107.82.