Broadcasting Stocks

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?

U.S. financial markets took a beating this week, with general indices falling again on Friday. What did the day look like for media stocks? Click here for details.

Discovery Communications, by all accounts, had a solid fourth quarter. It's per-share earnings surpassed the Zacks Consensus Estimate by five cents, while also narrowly beating Zacks' Q4 revenue projection. That couldn't stop investors from selling the MVPD-heavy company's stock.

The board of directors of Cincinnati-based television broadcaster The E.W. Scripps Company has authorized a new share repurchase program. At the same time, it declared a cash dividend for the first quarter of 2020 — two days ahead of Scripps' release of its Q4 and full-year 2019 financial results.

In a move designed to shore up investor confidence -- and take advantage of what the C-Suite likely believes is an undervalued stock -- the CEO of the company that owns 17 television stations in markets such as Phoenix, Nashville and Portland, Ore., has purchased 10,000 shares of his employer's common stock on the open market. The purchase by Tom Harty is valued at $289,000.