A Fab Friday For Media Stocks

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A week full of positive news for the broadcasting industry ended with a bang on Wall Street Friday, as the Dow Jones Industrial Average jumped 186.55 points, to 20,071.46. The Nasdaq Composite surged 30.57 points, to 5,666.77.


Among the key gainers were Cumulus Media, which continues to see share improvement thanks to a 5-cent rise, to $1.17. Spanish Broadcasting System is also on the right track, jumping 8 cents to $1.38. Charter Communications gained $4.30, to $328.71, as it benefits from a temporary restraining order from a New York judge allowing it to air Univision Communications-owned channels through Thursday.

The RBR Radio Index rose 19.226, or 3.33%, to 596.161.
The TVBR Television Index rose 5.415, or 0.55%, to 987.820.

Gainers

Beasley, up 12.7%

SBS, up 6.1%

Cumulus, up 4.5%

 

Decliners

Fox, down 0.2%

 

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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.