Broadcasting Stocks

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.

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 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.

The audio media company's shares have enjoyed a slow, steady rebound since sinking to $3.35 at the height of the COVID-19 pandemic some 11 months ago. Now, Cumulus Media will reveal its fourth quarter and full-year 2020 results in exactly two weeks.

It's share price is now higher than where it was before the COVID-19 pandemic ushered in stay-at-home edicts and, with it, a sharp financial downturn on Wall Street, Broad Street and on stock markets across the globe. With that positive momentum, Nielsen Holdings plc's Board of Directors has declared a quarterly cash dividend.

With Tuesday's Closing Bell on Wall Street, Townsquare Media shares are now at their highest price in one year. And, it marks a 157% improvement from the depths of 2020, when the arrival of the COVID-19 pandemic punctured media stocks severely.

Here's the good news: Global advertising spend is expected to grow 5.8% in 2021 as the industry begins to recoup the 8.8% fall in 2020 brought about by the impact of COVID-19. Now, the not-so-great news from Dentsu: digital is expected to account for half of all expenditure for the first time. 

It seems Townsquare Media shareholders are thrilled over the news that it is repurchasing at least 10 million of the 12.5 million shares of Class A and Class B common stock — and warrants — held by funds managed by Oaktree Capital Management L.P. With Thursday's Closing Bell on Wall Street, TSQ finished at its best closing price in nearly one year.

Entercom on Monday launched an audio network that includes broadcast radio stations and its Radio.com platform expressly for the sports gaming community. Investors liked the programming move. Tuesday's trading on Wall Street saw ETM climb to its second-highest value in the last 12 months.

Beasley expects to use the net proceeds of this offering to repay in full existing indebtedness under the company’s senior secured credit facilities and certain other indebtedness, with remaining proceeds to be added to the Issuer’s balance sheet and used for general corporate purposes.

Investors took a late afternoon liking to BBGI on Thursday. At 2:36pm Eastern, a big gain was seen, helping Beasley Broadcast Group experience a 11.3% gain on the day. It brings the audio media company's stock to a fresh six-month best.

It's been a challenging year for radio industry pure-play Saga Communications. But, after a late October 2019 dip of its stock to nearly $17 a share, this audio-focused company appears to be in recovery mode. How it performed in the final three months of 2020 will be made known on the second Friday in March.

The revenue decline remains in the double digits. But, the results point to a good, if not great, quarter-by-quarter recovery from the worst of the COVID-19 pandemic's economic carnage on broadcast radio in Canada. That's the story Montréal-based Cogeco is sharing with respect to its just-released fiscal Q1 2021 results.

Beasley Broadcast Group shares finished Thursday's trading at $1.97, rising 4.8% as the media company in eSports and radio programming disclosed an early look at its Q4 2020 results that are decidedly positive.

It's a big deal for attracting institutional investors, and Townsquare Media had previously announced that its CEO, Bill Wilson, would be presenting. Now, two of its audio media industry peers have revealed they, too, will be presenting at NobleCon17.