Broadcasting Stocks

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.

With an all-but certain delisting from the NYSE, short a reverse stock split, coming for Audacy Corp., the company's beleaguered shares suffered another big dip in Wednesday's trading. The result — a new all-time low for AUD. Wednesday wasn't exactly a great day for Beasley Media Group's stock, either.

Even with wild market gyrations that led to a 9.5% pre-market decline in share value on Tuesday, the nation's No. 1 owner of broadcast TV stations is perhaps the free-to-air media sector's strongest performer on Wall Street. How will the company's second quarter shape up for Nexstar Media Group? All will be revealed on Election Day 2022.

SiriusXM is on the hunt for more people willing to pay for its own music channels, and a wide array of specialty programming that ranges from Howard Stern to live sports action. To Simply Wall Street, that could be a sign that investing in SIRI may be worthy of a watchlist addition.

Sinclair Broadcast Group has made several promotions within the company’s legal department, with each of the individuals reporting to SVP and General Counsel David Gibber.

Xperi Holding Corporation's Board of Directors has approved the details and timing of the previously announced spin-off of the company’s product business, Xperi Inc., from the Company’s IP licensing business, Adeia.

For the three Wall Street analysts that cover conservative Talk and Christian-themed programming specialist Salem Media Group, 6.3% sales growth had been expected for the third quarter. The average estimate for revenue in Q3 is $70.16 million. Now, Salem has revised its Q3 forecast, and expects revenue to fall below the lowest of the three estimates provided by analysts.