A Banner Session For Beasley and Viacom


Don’t look now, but Beasley Broadcast Group stock is roaring.

The radio pure-play closed Monday’s trading on Wall Street with a stellar 10.6% gain, to $13.60.

Volume was at 55,500 shares, well above its average volume of 20,310 shares.

Meanwhile, Viacom saw a strong trading day, with a 2.9% gain, to $44.31, coming on a Barron’s report predicting that the company’s shares would jump 40% as it refocuses on its core brands.

After the Closing Bell on Wall Street, Barron’s prediction just may have some merit: The company has hired veteran motion picture industry executive Jim Gianopulos to head its troubled Paramount Pictures unit. Gianopulos is the former head of Twenty-First Century Fox Inc.’s film studio, and he succeeds former CEO Brad Grey, who exited Paramount in February after 12 years in the role.

Other key movers on Monday include Sinclair Broadcast Group (up 1.8%, to $40.25) and CBS Corp. (up 0.9%, to $67.49).

The struggle continued for Cumulus Media, with the company dipping 1.6%, to $0.3350.

Spanish Broadcasting System shares were flat, at 83 cents.

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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.