A Big Boost For TV Stocks


U.S. financial markets continued their upward march on Wall Street Wednesday, as the Dow Jones Industrial Average improved by 19.97 points, to 22,661.64, and the Nasdaq Composite index grew by 2.91 points, to 6,534.63.

Helping to push the market forward were several broadcast TV companies:

  • The E.W. Scripps Co. gained 1.5%, to $19.08
  • Sinclair Broadcast Group improved 2.5%, to $32.35
  • Nexstar advanced 2.3%, to $63.10
  • Gray Television leaped 5.7%, to $16.35
  • CBS grew 1.9%, to $59.97

The gains came on a day where the American Cable Association launched a campaign designed to make consumers aware of their viewpoint on rising retransmission fees, which the ACA says are outrageous and the key cause of “blackouts” of TV channels on MVPDs across the U.S.

How did Cumulus Media or Veritone Inc. do today? Check out all of the action in our Wall Street Report, found on the homepage of RBR.com.