Broadcasting Stocks

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.

Townsquare Media's CEO will present at Noble Capital Markets' 17th annual investor conference on January 19. The presentation will begin 30 minutes after the closing bell on Wall Street chimes.

The biggest licensee of radio stations in the U.S. has completed an exchange of warrants into shares of its Class A or Class B common stock. Here's what this means for iHeartMedia.

From July 13 to November 5, 2020, Townsquare Media shares were largely stagnant, stuck at a COVID-fueled price that was less than half of its February 2020 value. Then came the election of Joe Biden as U.S. President. Since then, TSQ has been on a hot streak.

It bears a 1-year target estimate of $7. And, it hasn't been priced that low since mid-November. Cumulus Media stock has proven resilient in these COVID-19 pandemic times, and with Thursday morning trading on Wall Street, ahead of a PM dip, CMLS is again approaching its highest closing price since early March 2020.

With chaos on Capitol Hill putting a dark cloud on what appears to be a shift of the U.S. Senate to Democratic control with wins in Georgia by Jon Ossoff and Raphael Warnock, U.S. financial markets were divergent — the Dow Industrials climbed, while Nasdaq was down.

Of course, the nation's largest owner of broadcast TV stations and WGN America, which just lured Ashleigh Banfield to host a 10pm prime-time news and interview show come March 2021, will also be releasing its Q4 2020 results. Here's when, and what to expect.