Radio stocks were mostly higher in midday trading on Friday, following Thursday’s announcement of the big Cumulus Media deal to acquire Citadel Broadcasting. Those two companies were little changed after Thursday’s run-up in their stock prices.
Nearly all TV stocks were higher as well, putting the TVBR Television Index on track for its ninth straight all-time high.
The broader market also moved higher on Friday, with more strong earnings reports driving major indices to their third week of gains. US stock markets will be closed Monday in observance of the Presidents Day holiday – or, as the NYSE still insists on calling it, Washington’s Birthday.