Media stocks enjoyed both gains and losses in a Tuesday trading session on Wall Street that saw the Dow Jones Industrial Average gain 43.08 points, to 20,937.91, and the Nasdaq Composite grow by 5.09, to 6,138.71.
Moving downward are Cumulus Media, which receded by 23.9%, to 45 cents. Could investors be doubting discussions that Lew Dickey Jr. and his Modern Media Acquisition Corp. (up 1 cent, to $10.16) are plotting a merger?
Beasley Broadcast Group shares dipped 4%, to $8.45, while iHeartMedia declined 3 cents, to $2.15.
On the upswing were Salem Media Group (up 15 cents, to $7.10) and TEGNA (up 25 cents, to $23.25.