Broadcasting Stocks

Wall Street suffered a significant decline in share values on Thursday, as the Dow Industrials tumbled 2.8%, to 28,292.00, as the Nasdaq index fell 5%, to 11,458.10. A 4.6% decline for Amazon and 8% dip for Apple were among the more notable losses. How did broadcast media stocks fare?

Wednesday's trading saw a healthy gain for Cumulus Media, while Salem Media Group's struggles continue. How else did radio and TV broadcasting companies fare on Wall Street? "Read more" for our Wall Street Report stocks-at-a-glance Closing Bell snapshot.

On June 8, Nexstar shares broke the $100 barrier -- signaling a full recovery from its COVID-19 fueled slump in value. A slight dip was seen over the next month, but as long-term trends show for the broadcast media company, it would only fuel a new surge in value. That's happened: NXST is nearing $100 once again.

Urban One shares finished Wednesday's trading at $3.90, continuing a downward slide after a meteoric rise fueled by social justice movement calls for increased ad dollars for Black-targeted media organizations. How did other media companies fare on Wall Street? For a glance, click "read more" now!

With Tuesday's trading signaling another down session, Beasley Broadcast Group shares are at their lowest point since dipping to $1.37 a share on March 23. That session represents the COVID-impacted low for the company. Now, it must fend off falling back to that level — or even lower.

On July 23, Salem Media Group shares achieved a year-to-date high. Whatever excited investors then disappeared by the time Salem's Q2 2020 results surfaced earlier this month. Since then, SALM has been in a nosedive. Now, with Monday's Closing Bell, Salem has a dubious achievement: Its shares are now valued at just under $1 per share.

U.S. financial markets ended Friday's trading on a positive note. The Dow Industrials gained 190.60 points, to 27,930.33, while the Nasdaq composite index grew by 46.85 points, to 11,311.80. To see how media stocks fared to finish the week, click "read more" now!

U.S. financial markets were on the plus side at the Closing Bell on Thursday. The Dow Industrials were up 46.85 to 27,739.73, while the Nasdaq composite gained 118.49 points to 11,264.95. For a glance at how publicly traded radio and TV companies performed, click "read more" now!

Sinclair Broadcast Group subsidiary Diamond Sports Holdings LLC has redeemed 350,000 of its Preferred Units, using cash dividends from DSH's indirect subsidiary, Diamond Sports Group, LLC.

"Dilute this." That could be what some Urban One shareholders are saying through their decision to sell the company's Class A shares in the wake of a plan to offer some $25 million worth of new shares in the open market. In early after-hours trading on Wednesday, UONE reached a level last seen June 14 -- erasing its entire surge in share value seen in the last eight weeks.

One of the world's best-known technology news portals could soon be shed from the ViacomCBS asset stable. According to The Wall Street Journal, citing unnamed sources, CNET is one non-core asset that it hopes to spin — and Red Ventures LLC appears to be the buyer. Also for sale: its New York City HQ, and Simon & Schuster.

Nasdaq experienced a 110.42-point gain to 11,129.73 on Wednesday, while the Dow Industrials index was down 86.11 to 27,844.91. That set the tone for radio and TV companies with publicly traded stocks, as key industry players went both up and down.

With Thursday's closing bell, the Nasdaq was up while the Dow Industrials were down. The action on Wall Street came as the Labor Department reported new U.S. weekly jobless claims of 963,000 — easily topping analyst expectations. How did radio and TV companies fare?

Wednesday wasn't the best day for media stocks. Entercom and iHeart, along with Nexstar, finished the day on a down note. In contrast, Cumulus Media was up by 10%.

The company that owns 17 broadcast TV stations led by Patrick McCreery will host a conference call for Wall Street analysts and investors to review its fiscal 2020 Q4 and full-year earnings. How did Meredith's stock perform on Tuesday?