A Strong Finish To 2016 For Media Stocks
The Dow and Nasdaq were down, but radio and television stocks were up on Friday to end the year on a strong note. Townsquare Media climbed 24 cents, to $10.41, while Salem Media Group rose 10 cents, to $6.25.
Beasley Broadcast Group rebounded from Thursday’s dip with a 35-cent gain, to $6.20. On the down side were CBS, off 88 cents, to $63.62, and Radio One, which dipped 10 cents, to $2.90.
The RBR Radio Index rose 6.250, or 1.06%, to 595.886.
The TVBR Television Index rose 1.858, or 0.19%, to 984.865.
Emmis, up 5.9%
Beasley, up 5.1%
Entravision, up 3.7%
Radio One, down 3.3%
CBS, down 1.4%
Saga, down 1.2%