Broadcasting Stocks

With the Closing Bell on Wall Street and at Nasdaq headquarters in Times Square on Wednesday, nearly every broadcast media company RBR+TVBR tracks had declined from Tuesday's trading.

The U.S. Ad industry lost billions of dollars in potential ad spend during COVID-19 lockdowns, with the worst impact — to little surprise — coming in Spring 2020. Now, an analysis by Standard Media Index illustrates just how steep the decline was.

It is far and away the most valuable content company in the world. And, its executive team led by Reed Hastings has decided to drop its fourth quarter 2021 fiscal report card on the same day as the Matrix Solutions Media Ad Sales Summit — also the concluding day of NATPE Miami at the Fontainebleau Resort in Miami Beach.

One year ago, Beasley Media shares were priced at $1.45, and were on the rise from the depths of the COVID-19 pandemic-fueled lows seen across Wall Street. For Audacy Inc., its stock was at $2.24, and also on the rise. Today, the stock for each of these radio station owners has retreated to prices that aren't much better than they were in mid-December 2020.

U.S. financial markets moved downward on Monday, with the Dow Industrials shedding 320.04 points to finish the day at 35,650.95 and the Nasdaq index losing 217.32 points, finishing at 15,413.28. While the general indices were down, several broadcast media industry stock prices finished the day in the green.

When it comes to Wall Street wizards who have an active pulse on broadcast media, there are perhaps no two more-attuned analysts than Craig Moffett and Michael Nathanson. Over the last several years, their MoffettNathanson has served as a leading voice of how media companies are performing and trending. Soon, their equity research firm will be a sibling to Silicon Valley Bank.

It's long-term outlook looks good. But, the next nine months aren't so rosy for Cumulus Media, say Wall Street analysts. Yet, as soon as Jessica Rosenworcel scored the approval of Congress and officially took the role as Chairwoman of the FCC, Cumulus shares went from sour to sweet on Wall Street.

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.