It may have been a down day for major U.S. indices, but broadcast media issues saw largely upward momentum in Wednesday’s trading.
Tribune Media was up 2.7%, to $43.22, while Sinclair Broadcast Group surged 8.9%, to $38.75, on a Financial Times report that it is ready to spin off 10 stations to 21st Century Fox in order to gain Federal approval of its merger with Tribune.
TEGNA rode on their coattails, with a 2.9% gain, to $14.88. Gray Television also saw upward action, rising 3.8% to $16.60.
For a complete look at today’s closing prices, please view the Wall Street Report on the homepage of RBR.com.