Cumulus Back In ‘Danger Zone’ As TV Shares Rise


Friday saw mixed trading again on Wall Street, as the Dow Jones Industrials Average slipped 8.83, to 19,843.41. Nasdaq was off 19.69, to 5,437.16. However, TV companies saw upward movement, with Tribune Media rising 0.95%, to $35.09, and Viacom up 1.3% to $39.50 on news that Sumner Redstone will be stepping down as a voting member of the company’s board of directors.

Sinclair gained 2.6%, to $33.25, while iHeartMedia jumped 6.9%, to $1.39.

On the flip side, Cumulus Media is in the danger zone again, falling 5.2% to $1.09.

Among key retailers of note, Kohl’s Corp. sank nearly 8%, to $51.14, after JPMorgan Chase downgraded Nordstrom to “underweight,” from “neutral,” and had its price target cut to $48, from $55.


The RBR Radio Index fell 5.108, or 0.83%, to 612.603.
The TVBR Television Index rose 4.462, or 0.46%, to 973.309.



iHeart, up 6.9%

Sinclair, up 2.6%

Radio One, up 1.8%



Cumulus, down 5.2%

Beasley, down 4.0%

SBS, down 2.7%