Broadcasting Stocks

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.

For investors, getting in to Nexstar Media Group would involve purchasing the company's stock at a record high, as NXST has surged from $57.73 in March 2020. For Simply Wall St., snapping up shares today may still be beneficial. Why? Nexstar is going ex-Dividend next week.

Last week, Jeffrey Wlodarczak, the Principal and Entertainment/Interactive Subscription Services Analyst at Pivotal Research Group, gave Spotify a glowing assessment in his latest investor note. Now, another analyst is heaping praise on the streaming audio giant. And, that pushed the company's stock past a major threshold in Monday's trading.

An all-important referendum on whether or not Urban One can move forward with plans to build its second casino gaming resort is being put to voters in Richmond, Va., on Tuesday. Does polling suggest that the plan may not win voter approval? Urban One's leader says no. Yet, shares were down by double-digits on Friday.

The company founded and led by Jeff Smulyan has earmarked as much as $5.2 million to invest in a long-awaited stock repurchase initiative — one that will take up to two million Class A Emmis Communications shares out of public hands.

Following in Spot Inc.'s footsteps in 2016 would have been a good move. Today, with respect to its finances, it is ill-advised. Tell that to Jack Dorsey, the billionaire CEO at Twitter. His company's shares plummeted Wednesday on Wall Street following the release of less-than-stellar Q3 2021 results.

The offering of the Notes, done to allow Gray to finance its acquisition of Meredith Corp.'s local media group, is expected to close on November 9, subject to customary closing conditions. At that time the proceeds of the offering will be funded into an escrow account.

Remember that infamous Reese's Peanut Butter Cup coffee mug former FCC Chairman Ajit Pai frequently used? Investors and analysts who actively watch broadcast media companies better get two ready for November 4.  A sixth licensee of broadcast stations has scheduled their third-quarter 2021 earnings release on this date, with the results distributed following the day's Closing Bell.

Add another third quarter earnings call for a broadcast media company to an already crowded November 4 slate. At 10am, company representatives from Urban One will share details of the multimedia operation's three-month period ending September 30.