Broadcasting Stocks

The broadcast TV station and regional sports network owner's wholly owned Sinclair Television Group has closed its previously announced private offering of $750 million aggregate principal amount of Senior Secured Notes due 2030.

He's been a member of the Board of Directors of the country's preeminent media company superserving Black consumers since 2001. Yet, on November 30, D. Geoffrey Armstrong stepped down from the board, effective immediately. Why?

Several broadcast TV companies enjoyed upward activity on Wall Street Wednesday. Among them: Gray Television. For a glimpse at today's Wall Street Report, click "read more" now -- and be sure to visit the RBR.com homepage each business day for LIVE stock prices!

U.S. financial markets slumped on Monday, with the Dow Industrials falling 271.73 points to 29,638.64, and the Nasdaq slipping 7.11 points, to 12,198.74. For media stocks, an 11% dip in value for Entercom put an ice cube on a stock that went into Thanksgiving Day on a hot streak.

Two of the nation's biggest audio media companies each saw their shares surge across Friday's trading on Wall Street. The big gains continued on Monday, with iHeartMedia and Cumulus Media both enjoying double-digit percentage growth in mid-afternoon trading.

Consumer packaged goods spending jumped 27% year-over-year in October, the largest year-over-year percentage increase since April and up a strong 9% over September 2020.

The Dow 30 soared by 1.6% on Monday, to 29,952.61, while Nasdaq grew by 0.8% to 11,924.13, as investors expressed confidence that a new COVID-19 vaccine trial, from Moderna, would lead to the ultimate end of a pandemic that is now eight months long. Media stocks were largely up.

As some in the radio industry focus on the third reduction in force it has engaged in this year, investors are playing a different tune when it comes to their sentiments on iHeartMedia and its radio station operations. The company's shares are on a growth spurt, and is trading consistently at a level last seen in early June.

U.S. financial markets finished Wednesday, Nov. 11, on a mixed note, with the Dow Industrials dropping 23.29 points to 29,397.63, while the Nasdaq rose 232.58 points, to 11,786.43. How did media stocks fare? The Wall Street Report offers a quick glance.

One week ago, Nexstar Media Group shares were moving in reverse, dipping to a price last seen in late July. Then came the release of positive third-quarter earnings results. With Wednesday's close on the Nasdaq GlobalSelect exchange, NXST is up nearly $14 per share since Nov. 4. It erases a six-week slowdown and suggests a $100+ price is just days away.

ViacomCBS appears to be given little credit for their digital transformation assets, notes MoffettNathanson Senior Analyst Michael Nathanson. "While it might feel like cognitive dissonance, we think there are three reasons for this seemingly inconsistent approach," he shares.

Its shares have rebounded to where they were a month ago, following a better than expected Q3 result -- its first with T-Mobile assets. That led Pivotal Research Group Principal and Entertainment/Interactive Subscription Services Analyst Jeffrey Wlodarczak to update his valuation model on Dish. The result? Pivotal is raising its target price for the company's stock.

With the 2020 U.S. presidential election undecided and President Trump likely suing over Wisconsin's preliminary results indicating a win for Joe Biden, U.S. financial markets were largely positive -- overall. For media stocks, there was plenty of up and down activity on Wednesday.

Christian-themed and conservative talk content purveyor Salem Media Group has determined when it will report its third quarter 2020 financial results. The earnings report comes at a tenuous time for its stock, which is struggling to prevent a  return to its COVID-19 era low — a price last seen in July 2009, at the height of the "Great Recession."

The E.W. Scripps Co. on Friday morning will report its Q3 2020 earnings results. What can investors expect? Zacks Equity Research has taken a stab at answering that question. Meanwhile, investors already know that they're getting a little bonus for being a shareholder, thanks to Scripps' board.