Nexstar Slumps In Mixed Mid-Week Trading


Nexstar Media Group shares have seen somewhat of a decline since Sinclair’s announcement that it intends to acquire Tribune Media, and the dip resumed in a big way on Wednesday.

Nexstar stock dipped $1.90, to close at $57.20. That’s a step back toward the $56 range seen in mid-May for Nexstar, which one month ago was trading above $67 a share and peaked March 6 at $73.10 a share.

Meanwhile, it was another rebound session for Cumulus Media as shares surged ahead 10 cents, to 57 cents, for a 21% gain—fueling speculation that the company is being eyed by Lew Dickey Jr.’s Modern Media Acquisition Corp.

Entercom shares were up 18 cents, to $10.32.

Saga Communications were off 55 cents, to $48.55.

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