Broadcasting Stocks

It was a relatively quiet Thursday for publicly traded radio and TV broadcast companies on Wall Street, as the Dow Jones Industrial Average improved 14.80, to 20,662.95. Viacom was among the companies that saw gains. SBS saw its woes continue.

While most media stocks fell in Wednesday's trading, Beasley Broadcast Group was up 20 cents, to $12. Also up was CBS Corp., which gained 31 cents, to $69.51. Other key movers include Cumulus Media, which hit a new low.

U.S. financial markets saw small overall gains on Tuesday, while media stocks showed little movement in a quiet trading day on Wall Street.

U.S. financial markets started the first trading day of April on a downbeat as the Dow Jones Industrial Average fell 13.01, to 20,650.21. The Nasdaq composite was down 17.06, to 5,894.68. Among the key movers was Townsquare Media.

U.S. financial markets ended the week with a whimper on Friday, as the Dow Jones Industrial Average fell 65.27, to 20,663.22, and the Nasdaq Composite declined 2.61, to 5,911.74.

U.S. financial markets enjoyed a strong Thursday session on Wall Street, as two media companies continued to see another day full of growth. The Dow Jones Industrial Average improved 69.17, to 20,728.49. The Nasdaq Composite was up 16.80, to 5,914.34.

It was a strong day on Wall Street for two media companies. Spanish Broadcasting System, however, wasn't one of those companies. The company's stock continued to plummet on Wednesday, with a nearly 22% decline seen in lower-than-usual trading.

The overall mood for investors was positive on Tuesday, as the Dow Jones Industrial Average and Nasdaq both posted higher numbers. iHeartMedia continued to climb, while Cumulus continued to slide.

Viacom saw a strong trading day, with a 2.9% gain coming on a Barron's report predicting that the company's shares would jump 40% as it refocuses on its core brands. After the Closing Bell on Wall Street, Barron's prediction just may have some merit: The company has hired veteran motion picture industry executive Jim Gianopulos to head its troubled Paramount Pictures unit.

A mixed trading session on Friday for overall stocks was mirrored in the media sector, as iHeartMedia continued its recent growth spurt, gaining 2%. In contrast, Spanish Broadcasting System (SBS) suffered a 7.8% dip.

With the confirmation that former CEO Lew Dickey Jr. on Monday resigned as Vice Chairman of Cumulus Media's Board of Directors, investors continued to sell their shares of the company's stock. On a positive note, Saga Communications climbed 2.2% in Thursday's trading on Wall Street.

Two radio broadcast companies had exceptionally strong trading sessions on an otherwise dismal day for stocks on Wall Street. The Dow Jones Industrial Average was down 237.85, to 20,668.01, while the Nasdaq Composite was down 107.70, to 5,793.83.

It may have been a moribund Monday on Wall Street, but it was a sizzling session for Saga Communications. The owner of radio and television stations...

Cumulus Media, the radio industry's second-biggest player by number of stations, on Thursday afternoon released lackluster Q4 and full-year 2016 results. Investors responded on Friday by sending shares of CMLS down 16.6%.

Although overall activity on Wall Street was mixed, the big gainer on Thursday was iHeartMedia, which climbed an impressive 43.4% and is now past $2 a share. Meanwhile, the situation at tech darling Snap isn't so great.