You know it’s going to be a bad day when the Wall Street scribes are coming up with terms like “media meltdown.” Although radio stocks did not go unsullied, the losses there were minor compared to the hit absorbed on the TV side.
The RBR Radio Index fell 3.089, or 0.5%, to 673.173.
The TVBR Television Index fell 43.863, or 4.8%, to 875.570.
iHeart, up 3.2%
Entercom, up 1.1%
Salem, up 0.8%
Media General, down 10.9%
Fox, down 10.5%
Gray, down 8.4%