Broadcasting Stocks

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.

First, it had to refute a false report that its CEO, David Field, confirmed that it would commence a Chapter 11 reorganization plan. On Friday, with a NYSE delisting all but inevitable, Audacy Corp.'s stock price has ventured below 50 cents per share. Tuesday saw AUD lose another 8% of its share value, falling to a fresh all-time low.

The Mouse House and the largest Spanish-language media company in the world are joining America's largest audio content creation and distribution company as participants in one of the biggest institutional investor conferences in the U.S.

The Chairman/CEO and President/COO/CFO of the nation's largest audio content creation and distribution company are presently gearing up for their appearance at a question-and-answer session during one of the biggest institutional investor events of the year.

Media stocks were largely in the red on Friday. Why? Federal Reserve Chair Jerome Powell said the Fed would more than likely move forward with additional interest rate hikes in the coming months. This would tighten credit for many households, and has the potential for layoffs.

As of the date of his passing on August 19, Ed Christian held approximately 65% of the combined voting power of Saga's common stock, based on Class B Common Stock generally being entitled to 10 votes per share. As a result, Christian was generally able to control the vote on most matters submitted to the vote of stockholders and, therefore, was able to direct nearly all Saga management and policies. With Christian's passing, here's what is transpiring with respect to his Saga shares.

The No. 2 and No. 3 individuals in the C-Suite of America's largest television broadcasting company in the U.S. are presently gearing up for a fireside chat Q&A session scheduled for September 7 at the BofA Securities Media, Communications and Entertainment Conference.