Broadcasting Stocks

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.

The wild Wall Street rollercoaster ride that's perhaps more intense than the Coney Island Cyclone roared on Wednesday, as the Dow Jones Industrial Average soared 617.70 points to 25,366.43, and Nasdaq climbed by 208.89 points, to 7,291.59. Radio and TV issues rose. But, Entercom was left out of the gains.

Tuesday's Closing Bell on Wall Street brought some not-so-positive news to investors in Cumulus Media. Come tomorrow morning, CMLS will be opening at its lowest price since it began the resumption of trading on July 30.

If you're a holder of Salem Media Group shares, there's a small bit of news: You're due to receive a cash dividend for Q4 on December 21. Here's the bad news: Salem shares are at a nearly seven-year low. Entravision and Beasley were also beastly on Monday.

Investors were heading into the Thanksgiving Day holiday on a pleasant note, with general indices and many media company stocks recovering on Wednesday following two days of big drops. Cumulus Media was part of the recovery.

After two days of punishing declines, a rebound was seen entering the final hour of trading on Wednesday, ahead of the Thanksgiving Day holiday. It was good news for Beasley Media Group and Entercom Communications.

U.S. financial markets slumped on Monday, with the Dow Jones Industrial Average sliding 395.78 points to 25,017.44, and Nasdaq off 3% with a 219.40-point slump to 7028.48. Many media companies significantly lost ground, including Entercom and Nexstar.

It's been a difficult autumn on Wall Street for AI-powered data attribution firm Veritone Inc., which works with broadcast TV and radio, and one of the radio industry's biggest players: Beasley Broadcast Group. Declines were once again seen on Friday for these two companies.

The Meredith Corp.'s Board of Directors has declared a regular quarterly dividend of significant stature. The decision came during Meredith's annual shareholders meeting, where stock holders elected PBS's President/CEO to the board for a three-year term expiring in 2021.

U.S. financial markets moved downward on Wednesday, as the Dow Jones Industrial Average fell 0.81% to 25,080.50. The Nasdaq composite lost 0.90%, ending the day’s trading session at 7,136.39.

Tuesday brought mixed trading to Wall Street as the Nasdaq index finished at 7,200.88, just 0.01 points higher than on Veterans Day. The Dow Jones Industrial Average was down 100.69 points, however, to 25,286.49. So was Beasley Media Group stock, which fell below an important threshold and is now at its lowest price in more than two years.