Broadcasting Stocks

It's been a difficult March for a bevy of broadcast media stocks. On Friday, on heavy volume, Beasley Media Group shares suffered a 32.7% slide in value. As a result, BBGI is at a fresh 10-year low, with a closing price last seen in February 2009.

Call it the "COVID-19 Limbo Rock." With some asking Wall Street, "How low can you go?," investors on Wednesday largely abandoned their positions in many of the media industry's biggest companies. With the Dow 30 off 6.3% to 19,898.92 and the Nasdaq down 4.7% to 6,989.84, some familiar radio companies' shares are in unfathomably low pricing funks.

U.S. financial markets rebounded on Tuesday, following Monday's market meltdown. How did radio and TV companies fare? There were notable decreases ... and increases.

With circuit breakers triggered within the first 15 minutes of trading on Monday as worried investors initiated a massive sell-off of stocks, the Dow Industrials ended the day down 12.9%, finishing at 20,188.52. Nasdaq was off 12.3%, to 6,904.59. How bad was the trading session for media companies? Don't ask David Field.

It's been a heck of a March thus far for media stocks on Wall Street. Violent dips and small recoveries have been seen for the last two weeks, and midday trading on Friday saw the overall market improve from Thursday's dismal drubbing. How did radio and TV companies fare as of lunch time? Don't look at Salem or Townsquare Media today.

U.S. financial markets moved downward on Friday, as the Dow Jones Industrial Average fell 9.99% to 21,200.62. The Nasdaq composite index lost 9.43%, ending the day’s trading session at 7,201.80. Trading was suspended from 10:15-10:45 this morning due to triggers designed to prevent the market from falling too far in a given time.

U.S. financial markets moved downward on Friday, as the Dow Jones Industrial Average fell 5.86% to 23,553.22. The Nasdaq composite index lost 4.70%, ending the day’s trading session at 7,952.05.

U.S. financial markets moved ahead on Wednesday, as the Dow Jones Industrial Average rose 4.89% to 25,018.16. The Nasdaq composite index gained 4.95%, ending the day’s trading session at 8,344.25.

U.S. financial markets moved downward on Monday. OK, you know the story - the Dow Jones Industrial Average plunged 7.79% to 23,851.02. The Nasdaq composite index lost 7.29%, ending the day’s trading session at 7,950.68.

U.S. financial markets moved downward on Friday, as the Dow Jones Industrial Average fell 0.98% to 25,864.78. The Nasdaq composite index lost 1.87%, ending the day’s trading session at 8,575.62.

U.S. financial markets moved downward on Thursday, as the Dow Jones Industrial Average fell 3.58% to 26,121.28. The Nasdaq composite index lost 3.10%, ending the day’s trading session at 8,738.59.

The last six months haven't been pretty for Cumulus Media shareholders. That's why a gain on Wednesday was a win, as it reversed a steep dip that started at the start of 2020.

What do Bill Wilson of Townsquare Media and Dave Lougee, President/CEO of TEGNA, have in common? Both media leaders will be in Palm Beach, Fla., on Tuesday, March 10. A visit to Mar-a-Lago is unlikely.

In mid-August 2019, Entercom Communications shares slid on word that the audio media company's board of directors had slashed its regular quarterly dividend to 2 cents per share, from 9 cents. It appears Entercom is sticking with giving its stockholders its two cents.

U.S. financial markets soared in a major way on Monday, as coronavirus-fueled losses seen last week brought out the bargain hunters. The result: a 5.1% gain in the Dow Jones Industrial Average, while the S&P500 improved by 4.6% and Nasdaq was up by 4.5%. How did radio and TV businesses fare?