Broadcasting Stocks

Following the decision by Audacy Inc.'s executive leadership team to engage in a 1-for-30 reverse stock split, the audio content creation and distribution company's ticker symbol changed for a third time since the change in nomenclature from Entercom transpired. Introducing "AUDAD."

It considers itself to be "the most advanced intrinsic in-game advertising" platform in the world. And, it has just announced a $48 million Series B funding round, which "significantly increases" its valuation. The infusion of dollars for Anzu involves "several new high-profile investors." Who led the funding round? Look no further than Jeff Smulyan.

At the end of 2021, respected Wall Street media and telecommunications financial advisory firm MoffettNathanson was sold to the parent of Silicon Valley Bank. By March 2023, SVB was mired in the seizure of its banks by the FDIC, with MoffettNathanson assuring it was "business as usual" for them. Now, the SVB relationship has evolved.

The annual reconstitution of the Russell 3000 and small-cap Russell 2000 indices becomes effective on Monday. For Townsquare Media and its shareholders, it is an action that brings good news and bigger growth opportunities to the "local first" company focused on digital media, programmatic advertising and broadcast radio solutions.

Nexstar Media Group, Inc. is making several changes following last week's 2023 Annual Shareholders' Meeting. Many of the votes and changes pertain to Nexstar's Board of Directors and company executives. Official voting results for each proposal will be filed with the SEC.

Townsquare’s “local first” digital approach carried them to a 2023 Q1 that outperformed expectations, despite a net loss. Now the company has taken a large step to buy back and retire shares in a show that Q2 could be a significant bump for the broadcaster.

New data from The University of Michigan Consumer Sentiment Index revealed a slight increase in consumer confidence, potentially pushing the Federal Reserve closer to another rate hike in July. The news slowed down the market to open Friday following a Thursday rally.

Brian Wieser, the respected financial analyst focused on media and technology companies, has taken his magnifying glass and combed through the latest U.S. retail sales data, released Thursday by the U.S. Census Bureau. There's 2.8% year-over-year growth on an unadjusted basis in May 2023. That's slower than the inflation rate increase seen in May. What does this mean for broadcast media?

Sinclair on Thursday completed its previously announced share exchange, in which it became the new public holding company of Sinclair Broadcast Group. There are no changes to the company's stock ticker, or within its executive leadership team.

Since December 2021, investors have lost 29% of their share value in NXST, based on Wednesday's closing price. In fact, since the start of May, shares are off $22.53, putting them at their lowest prices in nearly 18 months. 

The DTS and HD Radio parent Xperi Inc. is enjoying a healthy comeback on Wall Street from a dip to under $9 a share on May 3. Now, with a 1-year target estimate of $19, Xperi's CEO is preparing to appear at two big financial events focused on the technology industry investor events.

Urban One's annual report for fiscal year 2022 hasn't been filed with the SEC as of yet. The company's Q1 2023 earnings report hasn't been submitted to the regulatory commission yet, either. Urban One has explained why, but that hasn't stopped the Nasdaq from issuing a noncompliance warning.

The board for the owner of broadcast TV stations, Dielectric, and Diamond Sports Group also conducted its annual advisory vote on executive compensation. Here are the details.

It aims to be "the most trusted supplier of independent, trusted, single-sources research on small-to-micro cap companies to the small-to-medium sized Hedge Fund manager." That could explain why Salem Media Group will devote a portion of Wednesday afternoon to present virtually at a Singular Research online event.

Shareholders in the company that owns NBCUniversal are poised to get a reward. The Board of Directors for Comcast has declared a quarterly dividend.