Television companies posted strong gains in Wednesday’s trading, as the Dow Jones Industrials Average slid 118.68, to 19,752.53, and Nasdaq dipped 27.16, to 5,436.67.
Tribune Media was up 1.7%, to $34, while Sinclair Broadcast Group gained 1.1%, to $31.90. Also up was the nation’s No. 1 radio company, iHeart (+3.9%, to $1.35). Beasley lost a quarter, to finish at $6.05.
Meanwhile, Viacom’s woes continued with a 1% dip, to $38.50.
The RBR Radio Index fell 4.208, or 0.67%, to 624.039.
The TVBR Television Index rose 9.020, or 0.94%, to 970.122.
Gainers
iHeart, up 3.8%
Fox, up 3.6%
SBS, up 2.7%
Decliners
Beasley, down 4.0%
Radio One, down 3.4%
Cumulus, down 1.6%