A Winning Wednesday For Media Companies

By on Jan, 4 2017 with Comments 0

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.

 

Gainers

iHeart, up 3.6%

Beasley, up 3.2%

Nexstar, up 3.1%

 

Decliners

SBS, down 0.9%

Saga, down 0.1%

n/a

 

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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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