More Red From Media Companies On Wall Street


Stocks traded higher on an overall level Tuesday, as the Dow Jones Industrial Average climbed 167.80, to 23,411.76, and the Nasdaq composite gained 11.60, to 6,598.43.

But, media stocks didn’t participate in the gains, with many publicly traded radio and TV companies creating a sea of red on Wall Street.

Among the decliners is Viacom, which fell 2.5%, to $25.65. That’s bad news for the company, as it struggles to overcome a five-year low.

Meanwhile, Spanish Broadcasting System (SBS) saw its shares not controlled by Raul Alarcon Jr. slide 6.5%, to 72 cents, as Cumulus Media shares ended the day at $0.3158 cents.

Also off: CBS Corp., declining $1.01 to $56.94 for a 1.7% dip.

For a complete look at today’s closing prices please visit the Wall Street Report on the homepage of