An iHeart Bump Leads Thursday’s Wall Street Activity

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U.S. financial markets were up slightly on Thursday, as the Dow Jones Industrial Average improved 20.95, to 21,553.09, and the Nasdaq composite advanced 13.27, to 6,274.44.


Among the media stocks advancing on Wall Street is iHeartMedia, with shares rising 6.1%, to $1.75.

Also up was Entercom, which gained 1%, to $9.75, on word that the company has signed a 10,000-square-foot expansion deal at The Citadel in Miami’s Little River area for its forthcoming new home in South Florida. At present, Entercom operates from 15,000 square feet in Miami Gardens facilities inherited from previous owner Lincoln Financial Group. CBS Radio’s stations are housed in facilities just south on U.S. 441 that it inherited from Beasley Broadcast Group. With a total of 32,500 square feet, Entercom/Miami’s new home will not only house offices, studios, and meeting rooms, but will accommodate a large musical performance space and kitchen demonstration concept with a stage, and large studio for mixing, editing, light, and sound designed to seat up to 600 guests.

Other climbers on Wall Street include Nexstar Media Group, which rose 2%, to $61.75.

For a full look at today’s closing prices from all publicly traded media companies, and for a live trading-day glimpse, be sure to visit the Wall Street Report on the homepage of RBR.com.


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