Broadcasting Stocks

Is the Omicron variant of the COVID-19 a worry Wall Street need not push to much focus on? On Monday, that answer appeared to be a "yes," as financial markets were up broadly. Media stocks rode the wave upward. But, 3 notable decliners were seen.

While the Dow Industrials and Nasdaq indices were both down on Friday, broadcast media stocks saw mixed activity. Among the key gainers are Townsquare Media, TEGNA, Sinclair Broadcast Group, and iHeartMedia.

The media company known for its conservative Talk radio programming and its non-secular media assets serving Christians will see its C-Suite leadership present at the upcoming Singular Research "Best of the Uncovered" Investor Conference.

Meredith Corporation as you knew it is now another faded company of broadcast media's past, as Gray Television on Wednesday completed its $2.8 billion merger and subsequent spin-off of its non-local broadcast television assets to the Barry Diller-led IAC.

When it comes to the top leadership at Townsquare Media, drumming up interest from institutional investors has been seen since the days of Steven Price and Dhruv Prasad, who each held the role of CEO prior to Bill Wilson. Next week, Wilson will be presenting alongside Townsquare's CFO at another key investor affair.

With Monday's Closing Bell on Wall Street, Beasley Media Group shares have nearly erased all of its 2021 momentum. As such, the stock is ever-closer to its pandemic-era lows and more than $11 per share below where it stood four years ago.

Just days after President/CEO David Field snapped up more shares of his company's stock, Audacy Inc. stock on Wednesday continued its month-long downturn. As the clock struck 2pm Eastern, AUD was down to a price last seen in late December 2020.

With Audacy Inc. shares just five cents higher than where they sat on January 4, the company's Chairman and President/CEO has acted by acquiring nearly 120,000 shares of stock in the audio content and distribution company he leads.

In mid-February 2021, Audacy Inc. shares were priced at $6.26 per share, swiftly rising from a $2.80 per share price seen in early January. By mid-March, a slow and steady deceleration for the company's NYSE-traded stock would commence. By November 1, AUD seemingly seemed content on staying in the mid-$3 range. With Thursday's Closing Bell, Audacy's shares have now retreated to where they sat on January 4.

A hybrid return to normalcy offers a brighter outlook for film and broadcast station advertising, while posing challenges to momentum for subscription streaming, broadband and global pay TV amid persistent semiconductor supply constraints. That's according to the just-released 2022 Technology, Media, and Telecom (TMT) Outlook from S&P Global Market Intelligence.

Spotify Technology S.A. has entered into a definitive agreement to acquire a company described as a "global leader in digital audiobook distribution." Terms of the transaction were not disclosed.

Townsquare Media CEO Bill Wilson and CFO Stu Rosenstein are confirmed as attendees of the upcoming "Q4 Virtual Investor Summit." For Wilson, the event comes just 24 hours after the conclusion of Forecast 2022, for which he is a co-chair.

The broadcast television station licensee that is on target to complete its merger with Meredith Local Media within the next eight weeks has completed its offering of $1.3 billion in aggregate principal amount of 5.375% senior notes due 2031.

What can investors and analysts expect to see from Audacy Inc.? Seeking Alpha offers its take on what could come from the audio content creator and distributor that in addition to radio stations owns big podcast producers Cadence13 and Pineapple Street.

Salem Media Group, which beat the street with positive growth in the third quarter of 2021, has confirmed that it will be one of a list of presenters at the event formerly known as the MicroCap Conference.