TV Stocks Sink On Political Ad Estimate Dips

By on Sep, 20 2016 with Comments 0

U.S. stocks inched higher Tuesday as investors wait for upcoming decisions from central banks. Radio and Television did not follow the market, with both posting losses. TV stocks, in particular, were hammered due to lower guidance on political advertising revenue.

The RBR Radio Index fell 5.690, or 0.89%, to 635.768.

The TVBR Television Index fell 32.678, or 3.60%, to 876.286.

Gainers
iHeart, up 1.6%
Radio One, up 1.3%
Emmis, up 0.7%

Decliners
Gray, down 9.4%
Sinclair, down 9.4%
Tribune, down 4.5%

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About The Author: RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.

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