Broadcasting Stocks

Barack Obama was seeking a second term in office. The No. 1 song in the U.S. was "Call Me Maybe." And, Entercom shares were trading between $5.44 and $6.33 a share. Entercom just turned back the clock on Wall Street, with its shares now at their lowest closing price since July 2012.

A Boston-based investment firm appears to have ironed out its differences with the entity representing iHeartMedia's legacy noteholders — a sign that iHeart's release from debtor-in-possession status by a Houston-based bankruptcy court is chugging along toward a January 2019 resolution.

It's been a bad December for many a media company's publicly traded stock. On Monday, CBS shares slid to a price last seen in October 2015. Then, the bomb dropped on Les Moonves: He's getting no severance.

Don't panic ... or, try not to. Media stocks slumped along with general indices on a frightful Friday for Wall Street. Another dip was seen for Beasley. That said, only CBS, Tribune Media and Emmis saw gains, and the losses were ugly.

Thursday proved to be another disastrous day on Wall Street for Beasley Broadcast Group. Trading as BBGI, the radio broadcasting company's stock slid 5% on low trading volume. It puts Beasley shares back to where they were in June 2016.

It's been a rough month on Wall Street for AI-powered audio attribution firm Veritone Inc. The company's stock continues to trade at all-time lows. On Wednesday, a 10.3% dip was registered even as a new pact with Univision was announced. Why? A law firm is investigating potential claims against the Veritone board for a previously unannounced proposed company sale.

Shareholders of record on February 25, 2019 will be notified of the meeting and will be eligible to vote.

CBS Corp. has just scored a big cash payment for the sale of its 25-acre site in the heart of the Fairfax District. Thanks to a definitive agreement announced following Monday's Closing Bell on Wall Street, CBS Television City is being acquired by local real estate developer Hackman Capital Partners.

The Dow Jones Industrial Average shed another 2.2% in value on Friday, while Nasdaq dipped by 3.1%. How did media issues fare? Townsquare Media was down again, while Beasley and Entercom were on the rise.

When it comes to the overall action on Wall Street and that of radio station owner Beasley Broadcast Group, there seems to be a bit of divergence. Early Thursday, with financial markets down sharply, Beasley was in positive territory. Then, the market started to rebound. Beasley shares promptly headed southward.

When the U.S. financial markets reopen from Wednesday's Federal holiday in observance of the funeral of former President George H.W. Bush, will two broadcast media companies heavily involved with radio station ownership see their stock values move forward?

U.S. financial markets tumbled ahead of a Federal holiday closure Wednesday, in observance of the funeral of former President George H.W. Bush. The Dow was off 3.1%, while Nasdaq was down 3.8%. Most radio and TV companies were also in decline.

It's a bad time to be an owner of Beasley Broadcast Group shares, even as the company's Board of Directors has declared a quarterly cash dividend of $0.05 per share of its Class A and Class B common stock. Monday's trading saw BBGI slide to a level not seen since August 2016.

With iHeartMedia seeking to win approval of its Chapter 11 exit plan a week from Tuesday, a company that has already emerged from debtor-in-possession status -- Cumulus Media -- has been struggling on Wall Street. So has Beasley, and both were down on Friday.

It was a tale of two industries on Wall Street today, as Nexstar Media Group broke the $80 mark once again with a healthy gain. At the same time, shares for the No. 2 commercially licensed owner of radio stations -- Cumulus Media -- dipped to another post-bankruptcy low.