This CEO Doubles Down On Its Soft Stock Price
Comscore's five-year stock trend is far from pretty. Two years ago, SCOR was suddenly slipping from a $20 price range; it started 2017 in the mid-$33 range. By August 2019, Comscore shares were at $1.86. Today, they start the week on a strong note, with a 7.4% jump in value on Monday. For CEO Bill Livek believes they're seriously undervalued.
Inflation Fears, Crude Oil Slide Send Stocks Slipping
Crude oil prices plunged 8% on Thursday, with European demand now less than anticipated. This, coupled with inflation concerns and the news that another 770,000 Americans filed new unemployment claims for the week ending March 13 sent U.S. financial markets downward. Several publicly traded media companies were swept up in the tide.
Sinclair to Seek Partial Amendment, Extension of STG Credit Facilities
The goal, Sinclair Broadcast Group said, is for the broadcast TV company to reach new term loans which will provide for, among other things, a maturity date that is seven years after the effectiveness of the amendment.
IHRT Soars On Global Investment Report, Analyst Hike
Shares of iHeartMedia stock catapulted upward in one of the company's biggest-ever buying sessions on Wall Street. As the Closing Bell rang on the Nasdaq GlobalSelect Market on Tuesday, IHRT was up by more than 11% from Monday. Why? An analyst upgrade and big news out of Britain fueled the activity.
Nexstar Rises On Mixed Day For Media Stocks
U.S. financial markets started the week off with up-and-down movement among broadcast media companies publicly trading stock on Wall Street. Nexstar shares continue to roar upward, while Sinclair's momentum was stopped on Monday. Moving downward: radio industry leaders Entercom and Beasley Media Group.
Comscore Shareholders OK Charter Stock Issuance
A special meeting of Comscore Inc. shareholders is now over. And, the results of the Tuesday event are now known. It's good news for one of America's biggest MVPDs and internet service providers.
Veritone Stock Slump Overshadows Big Gains On Monday
Monday's trading saw gains of significance for Salem Media Group, Sinclair Broadcast Group, ViacomCBS, Disney and Cumulus Media. That said, Veritone Inc. suffered another dip of significance, falling $4.29 to $28.92 to continue a retreat from a recent growth trend for the audio attribution technology company actively seeking TV and radio clients.
Wall Street Sinks As Treasury Yields Climb
Tech stocks paced a wave of declines on Wall Street Wednesday, as the Chair of the Federal Reserve declined to say whether or not the Central Bank will work to put a kibosh on inflationary pressure. Media stocks were caught up in the dips.
Entravision Shares Surge As C-Suite Readies Q4, FY 2020 Results
Entravision Communications Corp., which owns radio and TV stations superserving U.S. Hispanic consumers, has determined when it will share its final fourth quarter and full-year 2020 financial results. The announcement came on a highly active day for the company's stock.
Big Ups and Downs For Media Stocks On Wall Street
Publicly traded radio and television broadcasting companies on Tuesday saw a flurry of highly divergent activity on Wall Street. Meredith Corp., Sinclair Broadcast Group and Entercom were among the key gainers. The decliners range from Saga Communications to Disney and Cumulus Media.
TEGNA, Townsquare Lone Decliners Amid Big Wall St. Gains
U.S. financial markets enjoyed widespread gains on Monday. But, not every media company took part in the upward activity. TEGNA, which released its Q4 and full-year 2020 results early Monday, saw its shares decline. Radio broadcasting company Townsquare Media, which will report its Q4 and full-year 2020 results in two weeks, was also down from Friday.
AT&T’s DirecTV Spin ‘Credit Positive’, Says Moody’s
Thursday evening's big headline across business media was AT&T's revelation that it will sell a 30% stake in its satellite and terrestrial video services provider business, inclusive of DirecTV. The entity grabbing the stake: TPG Capital. For Moody's Investors Service, this is a credit positive move for AT&T.
Salem Shares Hit New Peak As Q4 Reveal Date Is Chosen
Salem Media Group, the media company known for its Christian-themed and conservative Talk radio stations, has selected when it will issue its fourth quarter and full-year 2020 financial results. The announcement came after Salem shares on Wednesday hit their highest closing price since September 2018.
A Quarterly Dividend is Approved by TEGNA’s Board
The Board of Directors for the company that owns such key NBC affiliates as WXIA-11 in Atlanta and WGRZ-2 in Buffalo has declared a dividend payable April 1. The news came ahead of the Closing Bell on Wall Street, which saw TEGNA shares reach close to $18 in a positive trading session for the broadcast TV company.
SBS Reveals Pricing Of Senior Secured Note Offering
SBS intends to use the net proceeds of this offering along with cash on hand to finally repay its 12.5% senior secured notes due 2017, along with certain other consideration; to repurchase and/or redeem all of its outstanding 10 3/4% Series B Preferred Stock; and to pay related fees and expenses.