Broadcasting Stocks

Money down the drain? Perhaps that's the case for some investors, as a wide range of radio and TV companies each suffered big losses on Wall Street to end the week. Among the most significant drops were those for CBS Corp., Veritone, Discovery Networks, Entercom, and Viacom's Class B shares. What's to blame? Or, should the question be "who"?

It's been a rough 3 1/2 months on Wall Street for Nexstar. After climbing as high as $81.75 on January 15, the broadcast TV company's shares have stumbled. With Wednesday's finish, Nexstar has now effectively wiped out any growth in its share price seen since late November 2017.

May 2 marked another trading session on Wall Street full of ups and downs for media companies. Among the companies in the green is an iconic tower owner that has enjoyed stability with its stock for much of the last year.

One highly influential Wall Street financial house on Monday put this conservative and Christian-themed media company under the microscope to see if it indeed has low PEs, solid outlooks, and decent dividends. "Fortunately for investors looking for this combination, we have identified a strong candidate which may be an impressive value," Zacks declares.

Townsquare Media has filed documents with the Securities and Exchange Commission that reflect the radio and local digital media company's desire to initiate a tender offer valued at precisely $76,472,805.50. It involves a proposal to exchange eligible options for replacement options.

U.S. financial markets moved downward on Thursday, as the Dow Jones Industrial Average fell 0.30% to 25,656.98. The Nasdaq composite index lost 0.13%, ending the day’s trading session at 7,878.46.

U.S. financial markets finished the first week of Q4 2018 on a downbeat note, as the Dow Jones Industrial Average dipped 180.43 points, to 26,447.05. Nasdaq was off 91.06 points, to 7,788.45. Media shares were mostly on the decline.

After two days of punishing declines, a rebound was seen entering the final hour of trading on Wednesday, ahead of the Thanksgiving Day holiday. It was good news for Beasley Media Group and Entercom Communications.

On December 10, Townsquare Media shares were priced at $5.89. Then came a slump -- a truly bad one. Shares of TSQ fell under $4 a share.  On the first day of trading of 2019, the company's stock surged. It's not stopped its ascent. Thank the exit of Dhruv Prasad as co-CEO for making investors happy.

The Dow Jones Industrial Average was down 40.69 points, to 25,842.56, in Tuesday's trading. Nasdaq, however, gained 11.54 on the day, ending at 7,483.95. How did media stocks fare?

It appears investors are unsettled regarding their thoughts on whether to buy or sell Nielsen Holdings stock. Shares continued to lose ground in Friday's trading, with another six cents shed as of 2pm Eastern. In the final 45 minutes of trading, ups and downs were rampant.

Six months ago, Beasley Broadcast Group shares were poised to hit the $6.75 mark. Instead, they plunged to a low of $3.25 seen on the day after Christmas. Today, BBGI continues to struggle under the $4 barrier.

The last week on Nasdaq has certainly been exciting for Emmis Communications. On June 10, the company confirmed that it is saying goodbye to the capital of the Lone Star State. That excited investors, and that enthusiasm hasn't ebbed. But, is that a "YES" vote for a N.Y. move?

It was a rough Friday for not only Sinclair Broadcast Group but also two of the radio industry's biggest companies. Townsquare Media shares were down sharply. Meanwhile, iHeartRadio had a rocky end to the week.

U.S. financial markets were largely up on Thursday, with the Dow Jones Industrial Average climbing 372.68 points, to 26,728.15. Nasdaq was up 139.95 points, to 8,116.83. Yet, it wasn't a great day for Meredith Corp. ... or for Beasley Media Group.