A Big Burst For Media Stocks


U.S. financial markets started the final week of February 2018 off with a bang, as the Dow Jones Industrial Average soared 399.28 points to finish Monday’s trading at 25,709.27. Nasdaq was ahead by 84.07 points, to 7,421.46.

Pacing today’s gains were Nexstar Media Group, and American Tower Corp.

For TV station owner Nexstar, shared gained 55 cents, bringing the stock to $73.75.

American Tower, a major owner of TV and radio tower structures, an 87-cent gain but AMT shares at $142.74.

Beasley Media Group shares increased by 25 cents, to $11.50, while Entercom was up 45 cents, to $10.50.

The “stub” of publicly traded iHeartMedia shares was down by $0.022 to $0.498 on word that Liberty Media has offered to take a 40% equity interest in the company, as part of a restructuring plan it presented to iHeart stakeholders on Saturday.