Media companies rebounded on Friday to end the week on a positive note after getting pounded in trading on Wednesday and Thursday.
The losses came in reaction to a MoffettNathanson report that pointed to massive “cord-cutting” in U.S. homes. This compounded weak Q1 earnings results from a host of publicly traded radio and TV broadcast companies.
Key movers on Friday included DISH Network, up 2.6%, to $61.60, and TEGNA, up 3%, to $25.75.
The E.W. Scripps Co. gained 2.1%, to $21.07, as it reported flat earnings growth in Q1.
Both iHeartMedia and Cumulus Media were unchanged.
Ahead of Monday’s Q1 earnings release from Entercom, the company’s shares were off 2.7%, to $11.
For a full look at today’s stock report, please visit the Wall Street Report on the homepage of RBR.com.
