Broadcasting Stocks

A multi-year enterprise partnership agreement has been executed, one that will see Sinclair become the first local television broadcaster to consolidate all sellable assets across its platforms and markets into a single ad sales system, creating a unified brand experience for customers and sellers.

Gray Television and Meredith Corp. each enjoyed big days on Wall Street today, on word that the company buying Quincy Media, Inc., which acquired Raycom Media at the start of 2019, is purchasing Meredith Local Media's 17 broadcast stations.

The owner of NewsNation, former Tribune stations such as KTLA-5 in Los Angeles and WGN-9 in Chicago, and key legacy properties including KOIN-6 in Portland, Ore., is rewarding its shareholders with a hefty quarterly cash dividend.

U.S. financial markets were largely in recovery mode on Friday, after concerns that the Biden Administration would increase capital gains taxes sent general indices down sharply on Thursday. How did media stocks fare?

Concerns about higher capital gains taxes, courtesy of President Biden, fueled a sharp decrease in general indices on Wall Street. Did the Thursday dips include media stocks?

Despite a late-session rally, Audacy shares declined for the second-straight session, putting new scrutiny on a glowing seal of approval on the company formerly known as Entercom from a key Wall Street investor blog.

On April 9, the media company known for more than 50 years as Entercom Communications officially changed its ticker symbol to "AUD" to reflect its new corporate identity, Audacy. On Tuesday, trading in AUD hit a fresh post-rebranding low, bringing it to its lowest price since the first day of March.

The E.W. Scripps Co. will redeem the notes at a redemption price equal to ‎102.563%‎ of the aggregate principal amount of the outstanding notes, plus accrued and unpaid interest to (but not including) the redemption date.

Media companies were largely on the decline in Monday's trading, as Audacy was down 32 cents and Cumulus Media shed 30 cents. For two of broadcast TV's biggest players, Wall Street green was seen.

The first full week of April 2021 ended with up-and-down activity across the broadcast media landscape, as Audacy enjoyed its first day with a new ticker symbol by gaining ground.  For companies such as ViacomCBS however, the pain for short-term investors continues.

U.S. financial markets finished Wednesday's trading session on a mixed note, with the Dow Industrials rising 16.02 to 33,426.26 and the Nasdaq dipping 9.54 points to 13,688.84. While companies such as Scripps were in the green, TEGNA was down after a fresh five-year high. Also down: several radio broadcasting companies.

Standard General and its leader, Soohyung Kim, may be intent on grabbing greater influence in the broadcast TV company it has invested in. But, its latest attempt to woo over shareholders may fall on deaf ears. Why? TEGNA stock finished upward again on Tuesday, bringing it to its highest point in five years.

In Q4 2016, Viacom agreed to purchase Telefe, a major Argentine TV operation, for $345 million. Now, the company that is today ViacomCBS is crossing the Andes to purchase a WarnerMedia asset.

The first day of the second quarter of 2021 started out on a highly positive note for radio and TV stocks. Only one of the companies RBR+TVBR regularly tracks was down. That's more sour news for that lone decliner: ViacomCBS.

Mark Tuesday, May 4 on your calendars. That's when the biggest broadcast TV station owner in the U.S. releases its first-quarter 2021 results.