Saga, Viacom Continue To Sail On Wall Street


U.S. financial markets enjoyed a strong Thursday session on Wall Street, as two media companies continued to see another day full of growth. The Dow Jones Industrial Average improved 69.17, to 20,728.49. The Nasdaq Composite was up 16.80, to 5,914.34.

Viacom‘s hot streak is turning out to be an impressive one, and investors seem to like what they’re seeing with respect to the resurrection of the company’s Paramount Pictures unit — and the switch in Q1 2018 of the Spike pay-TV network to The Paramount Network. Viacom’s Class B shares jumped by 2.3% on Thursday, to $46.36.

Meanwhile, Saga Communications enjoyed another 0.1% gain, with a five-cent rise to $51.30. Saga is also riding a wave of growth, with shares at their highest point in three years.

Other media companies with strong sessions on Wall Street include E.W. Scripps Co., which saw a 2.2% gain, to $23.26, and Nexstar Media Group, which enjoyed a 2.7% rise, to $70.35.

Meanwhile, Cumulus Media‘s troubles continue, with its shares dipping 1.6%, to $0.3219.