Broadcasting Stocks

It's a company rooted in U.S. Hispanic media that today derives the vast majority of its earnings from digital advertising solutions around the globe. Just how big Digital was for Entravision will be shared when the company releases its first quarter 2023 fiscal results.

The 2023 NAB Show concluded one week ago. On Thursday, the Channelchek Takeaway Series presented in Las Vegas will be shared via an internet broadcast. Two broadcast media companies are among the participants.

With Friday's trading on the Nasdaq market concluded, Cumulus Media shares were off 7.6% from Thursday, dipping to $3.88. While that's slightly better than where shares were 2 1/2 weeks ago for the audio content creation and distribution company, analysts paint a bearish mid-term and long-term picture for Cumulus.

Sinclair Broadcast Group has a leadership role unlike any other when it comes to NEXTGEN TV, broadcast internet and all that the new digital broadcast television standard will bring. For Wall Street, there's a gap between what's present and what's to come with respect to analysts' valuation of Sinclair stock. Could a rosy Q1 2023 earnings report help rev up the Sinclair stock price?

TelevisaUnivision is privately owned, but that hasn't stopped the company from holding a quarterly earnings call to share its financial performance with analysts and potential institutional investors perhaps looking from afar at a potential profit-making opportunity.

The nation's largest owner of broadcast television stations, The CW Network, NewsNation and WGN-AM in Chicago has revealed when it will provide to the public its first quarter financial results for 2023.

It has a stock analysts consider to be undervalued and is presently at a five-year low. With key institutional investors such as Blackrock, Dimensional Fund Investors and Darsana Capital Partners, Gray Television is primed for a share surge. Will it come following the release of its Q1 2023 earnings report?

Saga Communications has wasted no time in informing analysts and shareholders as to when it will unveil its first quarter 2023 fiscal report card.

Teton Merger Corp. is extending the early tender date, the withdrawal deadline and the expiration date of its previously announced cash tender offer to purchase three series of TEGNA senior notes — a move directly tied to the stalled sale of TEGNA to Standard General.

Salem Media Group, which is publicly traded on Nasdaq, has completed its previously announced redemption in full of the remaining $36.5 million in outstanding aggregate principal amount of its 6.75% Senior Secured Notes due 2024.

With 30 minutes remaining in Friday's trading on the U.S. financial markets, two of the radio industry's largest broadcasting companies suffered further declines in their stock price. This put both Beasley Media Group and iHeartMedia at new lows.

Thursday proved to be a difficult one for Beasley Media Group shareholders, as BBGI declined by 8% to just $0.8740. This marks the lowest-ever closing price for Beasley stock over the last 20 years.

Friday's trading on Wall Street was full of downward momentum for publicly traded radio and television companies, with Nexstar Media Group and Sinclair Broadcast Group leading the decliners. In contrast, Townsquare Media was up. However, the biggest news of the day was a 46.2% day-over-day decline for Audacy Corp. stock. 

Silicon Valley Bank, the financial institution owned by SVB Financial Group, which recently bought influential Wall Street advisory firm MoffettNathanson, was closed on Friday by the California Department of Financial Protection and Innovation. It appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

The Thursday earnings release from the global ad solutions, media and technology company with its roots in U.S. Hispanic broadcast media will mark the first such distribution of financial data since the unexpected death of its Chairman/CEO.