Broadcasting Stocks

Saga Communications will release its Third Quarter 2022 results on Thursday, November 3. The conference call that morning will be different, as it is the first without Saga’s late founder.

When will Gray Television release its financial results for the third quarter of 2022? The company has finalized its plans.

U.S. financial markets declined on Columbus Day, with the Nasdaq losing 1% of its value as the Dow Industrials dipped by 93.91 points to finish Monday at 29,202.88. How did publicly traded radio and television companies fare? Not great.

U.S. financial markets went into a tailspin on Friday, as the U.S. unemployment rate dipped to 3.5% — lower than expectations. That's a good thing, no? No. To curb inflation, this is a sign that an interest rate raise is on the way from the Fed.

U.S. financial markets finished in the red on Thursday, with the Dow Jones Industrials Average declining by 346.93 points, to 29,926.94. Nasdaq was off by 75.33 points, to 11,073.31. For media companies, not all was glum, as Salem Media Group saw its stock climb.

CEO Mary Berner and CFO Frank Lopez-Balboa are putting the finishing touches on Cumulus Media's third quarter 2022 earnings report. All will be revealed in a morning earnings call scheduled for the final Friday in October.

On Tuesday, November 8, many will be glued to their television sets as election returns come in for a host of big races, including that for Florida's governor and a key U.S. Senate seat presently held by Marco Rubio. While those results may not come until well after 8am Eastern the following day, one set of results are certain to arrive — those for Townsquare Media's third quarter of 2022.

Netflix shares soared by some 9.3% in value in Wednesday's trading. Why? While news of password sharing crackdowns excited some shareholders, it was likely the upgrade of the company's stock by one financial advisory house that sparked the OTT giant on Wall Street.

A newly released S&P Global ratings report uses a schoolyard playground as a setting for its Q4 2022 economic outlook for the U.S. In short, it's a "teeter totter" fiscal forecast for the 50 states and its territories.

In a sign that tapping the institutional investment market could get tougher as the global economy remains shaky, a new S&P Global Market Intelligence report finds that early-stage funding in media and telecommunications companies across the U.S. and Canada slowed down in the first half of 2022 after a strong finish in 2021.

Xperi Holding Corporation, which has spun off its Intellectual Property Licensing business, will see executives from the new Xperi Inc. ring the opening bell on the New York Stock Exchange on Monday. Likewise, leaders for the spin-off company will ring the closing bell at the end of the day's trading up in Times Square, at Nasdaq.

U.S. financial markets continued to decline sharply on Monday, the first day of Rosh Hashanah. However, with minutes remaining in Monday's trading, some media companies were on the plus side.

For years, the refrain, "Sell on Rosh Hashanah, Buy on Yom Kippur," has persisted as a popular Wall Street superstition. Or, is it? With the Jewish New Year ready to start on Sunday at sundown, investors continued to sell off their shares across the board on Friday. In the media sector, only one company was in the green.

Some radio broadcasting companies suspended their quarterly cash dividend 2 1/2 years ago, with no indication from the executive leadership team as to when they'll resume. At Saga Communications, which recently saw the untimely passing of its CEO, Ed Christian, not only is a quarterly cash dividend still in place, but it's being hiked — again.

With recent declines in value from industry peers attracting attention, one story that's perhaps been underreported is that involving the stock performance of iHeartMedia. IHRT has proven to be a strong performer in the broadcast media sector across the third quarter.