More Important Rebounds For Media Stocks


U.S. financial markets enjoyed another positive session, with Wall Street’s major indices moving upward. Several important radio broadcasting companies also saw much-needed gains.

Among those entities: Entercom Communications.

On volume of 3.66 million shares, compared to average volume of 1.28 million shares, the bargain seekers came in droves on Thursday.

This sent ETM up 15.1% to $0.9206 at the Closing Bell.

In early after-hours trading, Entercom shares were at $0.9275.

Two days ago, ETM hit a low of $0.77 — the worst finish for the audio media company since October 2008.

Other climbers included Beasley Media Group ($1.95, up $0.10), iHeartMedia ($7.69, up $1.16), and Saga Communications ($29.80, up $0.57).