SBS Bounces Back As Cumulus Slumps Again

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The ongoing yo-yo activity of Spanish Broadcasting System on Wall Street continued on Tuesday, as SBSAA shares catapulted 43 cents, to $1.30. This stems a severe slide in the company’s stock, but also unveils extreme volatility since it was delisted from Nasdaq in January.


Meanwhile, worries continue for Cumulus Media shareholders, with the company’s stock declining a penny, to 67 cents, after being down even further in early trading on Tuesday.

Overall, it was a sea of red as major retailer Target Corp. suffered a bruising $8.14 loss, to $58.77, as the company said it need to rethink how to attract millennials and teens, as their shopping habits do not mirror that of their parents.


The RBR Radio Index rose 22.919, or 4.20%, to 568.693.
The TVBR Television Index fell 10.434, or 1.01%, to 1027.346.


Gainers

SBS, up 49.4%
Salem, up 0.7%

Decliners

Beasley, down 4.3%
Emmis, down 2.5%
Cumulus, down 2.2%

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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.

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