The novel coronavirus’ surge in cases across key states including California, Arizona, South Carolina and Florida is making Wall Street investors a little bit nervous.
The Dow Industrials fell 1.5% to 25,890.18 on Tuesday, while Nasdaq was down 0.9% to 10,343.89.
For media stocks, most were in the red. One stands out for a gain: The E.W. Scripps Co.
At the closing bell, SSP was up 27 cents to $8.67.
Why? Look no further than The Wall Street Journal‘s report that Scripps’ podcast platform Stitcher will be acquired by SiriusXM. A reported $300 price tag has been placed on the expected transaction.
More from Podcast Business Journal: https://podcastbusinessjournal.com/siriusxm-to-purchase-stitcher-for-300-million/
