Broadcasting Stocks

Things have never appeared to be better at iHeartMedia. With momentum fueling the nation's biggest licensee of radio stations, a voluntary prepayment of term loan facilities and a repricing of an incremental term loan have come.

Exactly one year ago, the financial impact of the COVID-19 pandemic led Saga to join the list of audio media companies to put its quarterly cash dividend for shareholders in a cryogenic state. The Saga board has just brought out the EKG machine, breathing new life into a historically robust dividend that will reward SGA shareholders in mid-July.

On heavier-than-average volume, Urban One stock was down sharply in midday trading on Friday -- continuing a plunge that began on Tuesday. Why are shares down, following a sharp rise at the start of June?

On Dec. 23, 2020, iHeartMedia shares finished the day at $11.99. It was a good finish, as IHRT in early July was trading in the mid-$6 range. With Wednesday's Closing Bell on the Nasdaq GlobalSelect market, investors who have had IHRT for the past year will certainly be celebrating. Why? They've more than quadrupled their dollars.

Thanks to exceptional growth in its digital segment, Entravision Communications Corp. stock has enjoyed a six-month surge. Entering Christmas Eve 2020, shares were priced at $2.70. As of midday trading on Tuesday (6/15), EVC is up 104% since then. That has Zacks Equity Research asking if it is time for investors to cash out.

That's how a self-described "a lapsed economist based in Canada" turned financial blogger describes the audio media company formerly known as Entercom.

Urban One, the African American-focused multimedia company that's growing its casino assets, is seeing renewed interest from investors of late. It's the casino business that's likely exciting them, with the company's stock rising 36% on Monday in more likely positive reaction to news a Richmond gaming complex is coming to fruition.

A "variable interest entity" of Nexstar Media Group has closed on a new Term Loan B Facility. It has a seven-year maturity and bears interest at a rate of LIBOR plus 2.5%, with a 0% LIBOR floor.

The Wall Street whizzes at Zacks Equity Research have conducted an assessment on Townsquare Media's stock. They conclude that TSQ, while enjoying swift share growth, is a good investment to consider today.

With its stock in a comfort zone following a run-up to $100.34 on March 22 from $36.60 to start 2021, ViacomCBS' Board of Directors approved a quarterly cash dividend for its Class A and Class B Common Stock. There's also another dividend for its 5.75% Series A Mandatory Convertible Preferred Stock.

On May 17, African American-centric media company and casino owner Urban One entered into an Open Market Sale Agreement with Jefferies LLC. This opens the door to a Class D share offering, the company tells the SEC.

The audio media company led by President/CEO Mary Berner on Wednesday (5/26) initiated actions designed to pay down $175 million of debt. And, it is doing so by using cash on hand.

With its stock in recovery mode and forward momentum at its secular spoken word AM radio stations, Salem Media Group is gearing up for appearances at a pair of investor conferences. The first of the two events is scheduled for Thursday morning.

Urban One may have had an explosive day on Wall Street, but other broadcast media companies also found themselves seeing strong gains on Thursday. Among them: Salem Media Group, and The Walt Disney Company.

On May 14, the Board of Directors of Audacy, the company formerly known as Entercom Communications, approved a restatement of three specific company plans and/or policies. An SEC filing made following Wednesday's Closing Bell on Wall Street explains what transpired.