Wall Street

Stocks Do Not Wake Up As September Ends, Capping Q3

By the closing bell on Friday, both the Dow Jones Industrial Average and the S&P 500 had tumbled to end an already tough September on a sour note, fueled by the likelihood of a government shutdown. Despite the dip, broadcast stocks remained about even for the day, to close out the third quarter. 
Lucy Rutishauser

Sinclair CEO, CFO Confirmed For Leveraged Finance Conference

The Deutsche Bank 31st Annual Leveraged Finance Conference is coming next week, and the Chief Executive Officer and Chief Financial Officer of Sinclair Inc. are confirmed as presenters at the Scottsdale, Ariz., event. 
Saga Communications, Inc.

Saga Board Repeats Shareholder Reward With Dividend OK

Some of its peers have yet to reinstate a quarterly dividend suspended following the onset of the COVID-19 virus in the U.S. some 3 1/2 years ago. For Saga Communications, cash rewards to its shareholders has been a hallmark of stock ownership. Now, Saga's board has said yes to another quarterly cash dividend of significance.
Lee Ann Gliha, now EVP/CFO at Nexstar

Nexstar Reveals Q3 ’23 Results Date

Nexstar Media Group has decided when it will reveal its third quarter 2023 fiscal results, and host an earnings call for debtholders, stock owners, institutional investors and financial analysts eager to see how the nation's No. 1 owner of broadcast TV stations — and NewsNation — performed as its majority interest in The CW points to new growth opportunities.
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U.S. Economic Outlook Sees Slowdown Delayed, Not Averted

After stronger-than-expected growth so far, the U.S. economy is poised to slow down for the rest of 2023 and come in below trend for the next two years. "The balance of risk to our baseline forecast is tilted to the downside," says S&P Global Ratings.

Urban One Shareholders OK Two New Directors, Ratify EY

With its fiscal year 2022 results still not shared with the public, Urban One shareholders on September 14 convened for the company's annual meeting. At the event, proposals ranging from the election of two new Class A directors to the ratification of Ernst & Young as its independent registered public accounting firm for FY 2023 were seen.
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Recession Threat Moderation Can’t Erase Continued Concern

The probability of a recession starting within the next 12 months has moderated since the beginning of the year. But, new data show it remains a worry for many financial analysts, putting new clouds on broadcast media ad sales growth.
TEGNA President/CEO Dave Lougee

TEGNA Confirms Its Q3 Results Reveal Date

With its shares rebounding from a year-to-date low experienced on September 8, TEGNA's executive leadership team has determined when it will release its third-quarter 2023 results.
Wall Street

Beasley, Salem See More Sub-$1 Wall Street Finishes

With Audacy Inc. struggling to keep its stock above the $1 mark, even after a 1-for-30 reverse stock split, two other radio broadcasting companies are experiencing challenges keeping their respective shares above the all-important price point.

Bressler, Pittman To Appear At BofA Event

The Chairman/CEO and the President/COO and CFO of iHeartMedia, Inc. have confirmed their appearance at a key institutional investor event scheduled for September 13.
Jeff Smulyan, appearing at Forecast 2023 in New York in November

Emmis Gets Shareholder OK On Privatization Plan

It is formerly known as Emmis Communications and was once a formidable operator of radio stations across the U.S. Now known as Emmis Corporation, the publicly traded company founded by Chairman Jeff Smulyan has shared that it has received "overwhelming support" from shareholders to amend its articles of incorporation, as outlined in its proxy statement.

Bressler, Pittman To Pitch iHeart at ‘Communacopia’

The Goldman Sachs Communacopia + Technology Conference is one of the nation's biggest financial events for institutional investors. And, the nation's No. 1 owner of radio stations and producer of audio content will have a presence there.

Salem Confirms Upstate S.C. Market Exit

Nine years ago, Salem Media Group added a second FM to the Greenville-Spartanburg market to pair with its conservative Talker branded today as "The Answer." This yielded "Earth FM," today an Adult Hits station with a simulcast partner reaching Anderson and Clemson. Those FMs have just been sold, and investors were hardly pleased.
Alfred Liggins, Urban One

As Expected, Nasdaq Delivers Noncompliance Letter To Urban One

The nation's foremost multimedia company superserving African American consumers has confirmed that it is in receipt of a letter from the Nasdaq stock market notifying it that it is not in compliance with its listing rule.  It's hardly a surprise, and as far as Urban One is concerned, it's merely a formality.
Entravision Communications Corporation

With Shares Near One-Year Low, Entravision To Present At IDEAS Affair

Its foundation is in radio and television serving Spanish-speaking Hispanics across the U.S., but its revenue drivers and future is squarely focused on global digital advertising solutions. That's perhaps a message the Chief Financial Officer of publicly traded Entravision will be sharing next week at an investor conference being held in Chicago.