An Inaugural Gain For Stocks Can’t Help SBS

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The swearing in of President Donald Trump had a mildly positive impact on media stocks, as the Dow Jones Industrial Average climbed 94.85, to 19,827.25. Nasdaq was up 15.25, to 5,555.33. Among the key climbers was Viacom, which saw new head Bob Bakish address NATPE 2017 attendees Wednesday in his first major appearance as CEO. VIA shares were up 2.7%, to $44.40. Salem Media Group improved 2.3%, to $6.55, while CBS Corp. ascended 1.4%, to $63.49.


Cumulus Media was unchanged, at 97 cents a share. Meanwhile, SBS – now trading under the ticker symbol “SBSAA” on an over-the-counter exchange – tumbled 5.8% to $1.80 on tiny volume of 29,344 shares.

The RBR Radio Index rose 3.539, or 0.62%, to 576.749.
The TVBR Television Index rose 6.963, or 0.74%, to 949.500.

 

Gainers

Gray, up 2.8%
Entercom, up 2.5%
Sinclair, up 2.4%

Decliners

Tribune Media, down 1.4%
Beasley, down 0.7%
Entravision, down 0.5%

 

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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.