Broadcasting Stocks

It was a historic day for Beasley Broadcast Group -- but not in a good way. Share volume for trades of its stock on Nasdaq reached nearly 12 times its average. This put an exclamation point on a remarkable sell-off that saw Beasley shares end the day down 17%. In midday trading, a more than 20% decline was seen.

U.S. financial markets saw mixed movement on Monday, with the Dow Jones Industrial Average dippng 13.83, to 25,044.29. Nasdaq rose 21.67, to 7,841.87. While Beasley shares suffered a severe drop, most of the other activity was ho-hum.

On slightly lower than average volume, Emmis Communications shares finished Friday's trading with a 8.4% gain. This puts Emmis back on a growth track after a short dip seen this week. Still, Emmis is performing much better than it did across the first quarter of 2018.

Values for nearly all broadcast TV company stocks fell on Thursday, as the FCC moved forward with a Hearing Designation Order that could all but doom Sinclair Broadcast Group's merger with Tribune Media. Nexstar, Gray TV and CBS Corp. were caught up in the hubbub.

Townsquare Media has filed documents with the Securities and Exchange Commission that reflect the radio and local digital media company's desire to initiate a tender offer valued at precisely $76,472,805.50. It involves a proposal to exchange eligible options for replacement options.

While some may privately believe that Tribune Media's future depends on a buyer, an aborted merger with Sinclair Broadcast Group could very well position another able-bodied suitor to show up on Michigan Avenue with a proposal. For Sinclair, the future may be a bit bleaker. Do investors feel this way? It appears so, based on Tuesday's activity on Wall Street.

Blame the FCC Chairman for dual nose-dives for Sinclair Broadcast Group and Tribune Media in Monday's trading. Within moments of the release of a statement from Ajit Pai that put the companies' merger into question, investors went into sell mode. At the Closing Bell, SBGI was down nearly 12%, while Tribune was off by close to 17%.

Emmis Communications stock was humming along in positive territory for most of Friday's trading session. Then, at 3:44pm Eastern, a sudden and sharp turn downward was seen. A slight recovery was seen, but Emmis was still down by nearly 10% on higher-than-average volume.

Nexstar Media Group shares soared to another new high on Thursday, one day following the release of a Reuters report that suggests buyout firm Apollo Global Management has expressed interest in acquiring the company. Volume was nearly twice its average, as NXST inches closer to its 1-year target estimate.

Wednesday marked another strong day for CBS Corp. shares. At the Closing Bell, the company's stock rose to $59.30 — just shy of the $60 mark last seen on Jan. 22. It's more welcomed news for CBS, which was under $50 a share on Memorial Day.

Nexstar Media Group shares rocketed upward in the 10am hour Wednesday following the release of a Reuters report that suggests buyout firm Apollo Global Management has expressed interest in acquiring the company. Nexstar in early 2017 completed its merger with Media General as has seen steady growth over the last five years. Now, its stock is at a record high and one financial analyst declared Tuesday that it's a buy.

For the first time since May 8, Entercom shares closed above the $8 mark. In after-hours trading, the company's shares continued to rise. But, ETM still has quite a ways to go to get to where many on Wall Street thought it would be at this time. It's also dealing with more transition, as KYW's ND/PD is to exit after 40 years at the Philadelphia all-News AM.

U.S. financial markets saw overall improvements on Monday, as the Dow Jones Industrial Average gained 320.11 points, to 24,776.59. Nasdaq jumped ahead by 67.81 points, to 7,756.20. How did media stocks fare?

U.S. financial markets finished the week on an up note, with the Dow Jones Industrial Average and Nasdaq both climbing on Friday. For media stocks, it was more mixed activity: Entravision and Urban One were down, while Beasley and CBS Corp. were up.

U.S. financial markets surged on Thursday, returning from the Independence Day holiday on an up note. The Dow Jones Industrial Average was up 183.48 to 24,358.30. Nasdaq gained 83.75, to 7,586.43. Media stocks were mostly on the upswing.