A Winning Wednesday For Media Companies
Wall Street continued its pre-Inauguration Day upswing on Jan. 4, as the Dow Jones Industrials Average edged ever closer to the 20k mark with a 60.40-point rise, to 19,942.16. The Nasdaq composite index grew 47.92, to 5,477.00.
Among radio’s star performers is Townsquare Media, up 5.9%, to $10.20. Cumulus Media gained 2 cents, to $1.10, while iHeartMedia rose by 4 cents, to $1.15.
Meanwhile, Nexstar soared $1.95, to $64.80, on word that it reached a new retransmission agreement with some 30 different MVPDs.
The RBR Radio Index rose 6.886, or 1.13%, to 616.800.
The TVBR Television Index rose 16.031, or 1.63%, to 1,002.025.
iHeart, up 3.6%
Beasley, up 3.2%
Nexstar, up 3.1%
SBS, down 0.9%
Saga, down 0.1%