Broadcasting Stocks

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.

Two days after iHeartMedia released its fourth quarter and full-year 2022 results, the nation's largest audio content creation and distribution company continued to suffer from a significant sell-off of shares on the Nasdaq GlobalSelect exchange. With Thursday's Closing Bell, IHRT fell an additional 5%. After-hours gains were seen again Thursday, but will they hold on Friday?

The audio content creation and distribution company that owns a group of radio stations, is invested in podcasting and has the eponymous Audacy streaming audio app saw its stock price fall to a fresh record low on Thursday.

Salem Media Group, which trades on the Nasdaq and was up 4.5% in immediate after-hours trading to $1.39 on Wednesday, has announced when it plans to report its fourth quarter 2022 financial results.

In June 2021, Saga restored its quarterly dividend, suspended one year earlier in response to the COVID-19 pandemic. Since then, cash payouts of $0.16, and $0.20, per share were declared. Now, the Saga board has declared a quarterly cash dividend that is even richer for shareholders.

Nexstar Media Group's President/COO and EVP/CFO have been confirmed as participants in the upcoming Morgan Stanley Technology, Media & Telecom Conference.