A Steady Climb For iHeart Shares
America's favorite tabloid, the New York Post, recently reported that the Justice Department may scrutinize a plan by Liberty Media -- parent of Sirius XM and Pandora -- to gain majority control of iHeartMedia. Investors appear to be energized by the suggestion.
Entercom’s Wall Street Turkey Trot
Don't look now, but Entercom Communications shares have retreated to their lowest prices since November 22, erasing a rally that brought ETM to levels last seen before its early August meltdown. Is the current dip nothing to fret about, or a harbinger of a difficult quarter to come?
Key Media Companies Dip On 2020’s First Trading Day
The start of 2020 wasn't a great one for the nation's publicly traded radio and TV stations. While markets were up overall, dips were seen for such companies as Cumulus Media, iHeartMedia, Nexstar, Scripps and TEGNA.
Sinclair Stock In 2019: Up, But By A Hair
Here's the good news: Sinclair Broadcast Group's stock will finish 2019 ahead of where its started the year, by nearly $4.50 per share. Here's the bad news: The second half of the year was full of consistent declines that erased healthy growth seen through early July for the TV station owner that now has the former Fox regional sports networks.
Zacks’ ‘Bull of the Day’: Spotify … With ETM Notable, Too
There's a popular source of music that's the darling of Wall Street watchdog Zacks Equity Research, earning it the "Bull of the Day" honor on Friday. It's not a radio broadcasting company, but one is getting honorary mention for its particularly strong Q3 and soft share price as of late.
Will Nexstar Finish 2019 With a New Record High?
On April 23, a $117.65 close marked a new high on Wall Street for shares of Nexstar Media Group. Over the next several months, the broadcast TV company's stock price would recede before gaining steam once again, repeating a pattern seen across the years for NXST. If midday trading on Thursday is any indication of what's to come for Nexstar, a fresh all-time high for the stock is inevitable.
Highs and Lows On Wall Street For Radio Trio
The last full trading week of 2019 is underway. For those tracking radio industry stocks, two companies stick out for their strong performance as the clock winds down to 2020. For a third company, its shaky health in the second half of the year -- punctuated by a sharp drop on Monday -- is attracting the attention of industry observers and investors.
Thank O’Melveny For Advising ViacomCBS on Miramax Money
ViacomCBS has struck a definitive agreement with beINMEDIA GROUP to acquire a 49% stake in global film and production studio Miramax — best known for its award-winning film library including such box office faves as "Good Will Hunting" and "Kill Bill" and for its co-founder, Harvey Weinstein. A major Los Angeles-based law firm represented ViacomCBS in bringing the investment to fruition.
Gray Grab For Insurance Company As Stock Hits Six-Month High
An SEC filing indicates that a subsidiary of Atlantic American Corp. is now a significant shareholder of Gray Television stock. The company's shares were in positive territory for all of Thursday, closing up 3.4% to $21.45 — its highest price since early May.
Scripps Reprices Term Loan, With A Lower Rate
The E.W. Scripps Company on Wednesday completed the repricing of its $765
million term loan B maturing in 2026.
In doing so, it reduced the interest...
A New Low For Salem’s Stock
On double its average volume, Salem Media Group shares slumped to a fresh 10-year low, putting it at prices not consistently seen since summer 2009. The 2% dip from Monday's close comes as Salem stock on Friday will go ex-dividend.
ETM, TSQ Start The Week With Strong Sessions
Entercom Communications shares rose 5% on Monday, with gains seen across the day's trading. The gain puts ETM above the $5 mark for the second time in December, and at its highest closing price since late July. At the same time, Townsquare Media had another excellent trading session on the NYSE.
A Fiery Friday For iHeart Shares
What a difference a good rumor makes. Both The Wall Street Journal and Marketwatch are reporting that John Malone’s Liberty Media has asked the Justice Department for permission to buy a larger piece of iHeartMedia. That alone ignited iHeart shares on Friday, with more than 1 million shares traded on average volume of 330,140 by Noon ET.
Saga Board OKs Strong Q4 Dividend
Historically, Saga Communications has been one of the radio industry's best performers on Wall Street, with positive analyst reviews. Now, the company led by Ed Christian is rewarding investors with another big dividend declaration.
Salem Board OKs A Smaller Quarterly Dividend
It hasn't been easy of late for Salem Media Group and its shareholders. On the bright side, they'll be getting a Q4 dividend. But, it's a lot smaller than the one awarded in Q2 by the media company focused on Christian-themed and conservative talk programming.