Mid-Week Ups and Downs For Media Stocks


It was another banner day for Wall Street, as the Dow Jones Industrial Average climbed 97.58, to 21,711.01, and the Nasdaq Composite grew 10.57, to 6,422.75.

Several media companies helped trigger the overall growth, including Sinclair Broadcast Group, which gained 3.3%, to $36.35, as it awaits government approval of its merger with Tribune Media.

Also improving on Wednesday was CBS Inc., rising 55 cents, to $66.63. Nielsen was a gainer, too, rising $1.22, to $39.84.

Saga Communications also saw a rebound for the second consecutive trading session, rising 85 cents, to $39.55, after a steep dip on Monday.

Meanwhile, digital player Snap Inc. — parent of Snapchat — sank to a new low with a 49 cent decline, to $13.40. It was $27.09 on March 3.