Merry Trading For Media Stocks
On the last trading day before Christmas, activity on Wall Street was light, but positive, for radio and television companies as the Dow Jones Industrials Average improved 14.93, to 19,933.81. The NASDAQ Composite index was up 15.27, to 5,462.69. Among the key gainers was Townsquare Media, rising 1.3%, to $10.42. Also up were Sinclair Broadcast Group (+2.9%, $34.20) and Hemisphere Media Group, owner of WAPA América (+2.3%, $11.30). Cumulus Media gained a penny, to return to $1, while iHeart also gained a penny, climbing to $1.21.
The RBR Radio Index rose 7.514, or 1.25%, to 608.074.
The TVBR Television Index rose 10.668, or 1.09%, to 987.088.
Emmis, up 3.8%
Sinclair, up 2.9%
Gray, up 2.3%
Fox, down 0.2%