More Ups and Downs For Media Stocks


U.S. financial markets saw another mixed trading session on Wall Street, as the Dow Jones Industrial Average finished with a 140.67-point gain, to 26,392.79. The Nasdaq Composite index was down 3.89 points, to 7,411.16.

The disparate movement on Wall Street extended to media companies, with several up and several down on Thursday.

Among the gainers is Viacom, which saw its Class B shares grow by 48 cents, to $33.61.

TEGNA rose 30 cents, to $15.39, while The E.W. Scripps Co. gained 35 cents, to $16.34, on word the company was shedding its radio stations to focus on broadcast and digital TV opportunities.

Decliners on Thursday include Salem Media Group, which slipped another 5 cents, to $4.55, and Entercom, now at $11 thanks to a 25-cent drop.