Broadcasting Stocks

Emmis Communications has emerged as one of the radio industry's stars on Wall Street. It's gone nowhere but up since the start of 2018, and after some recent profit-taking resumed its climb in value in Thursday's trading. Could a new three-year high be on the way?

The future of CBS Inc. and kissing cousin Viacom has become a sizzling Manhattan soap opera that's as hot as Friday's weather. In the latest turn of events in a matter that sees CBS trying to stave off a merger with Viacom, it is moving forward with its annual shareholder meeting. The event was originally set for May 18.

U.S. financial markets were on the upswing, with the Dow Jones Industrials Average rising by 1.4%, and Nasdaq up 0.7%. Most media companies rode the wave, with Entercom seeing a much-needed bump. It's now at $7 a share.

Tuesday brought another tough trading session for Entercom stock. Volume was heavier than normal. The company's share value declined hour by hour. By the Closing Bell, ETM finished down 5.2% — a level not seen since November 2012, well before CBS Radio was on Entercom's radar.

U.S. financial markets enjoyed a positive start to the week. However, it was another up and down session for media stocks -- with several of the biggest radio and TV industry companies heading in the wrong direction on Wall Street.

On May 18, Emmis Communications stock soared to its highest closing price since March 2015. After some profit taking, the company's shares finished a short Memorial Day holiday week on an up note. Meanwhile, a robust recovery for Urban One shares is worth noting.

Can a “material adverse change” derail the purchase of a radio or TV station? Erwin Krasnow, a partner at Washington law firm Garvey Schubert Barer, takes the mic in this penultimate Deal Killers podcast moderated by RBR+TVBR Editor-in-Chief Adam R Jacobson. Also sharing their thoughts are media broker Doug Ferber of DEFcom Advisors and Bruce Mittman and Jim Leven — the leaders of radio broadcasting company Community Broadcasters.

If you haven't gotten nervous yet about the performance on Wall Street of two very different companies that, unfortunately, some confuse because of their similar names, today might be the day to start the nail biting. Entercom shares tumbled another 3.2%, while Entravision shares dipped to the $4 mark.

U.S. financial markets moved ahead on Wednesday, as the Dow Jones Industrial Average rose 1.26% to 24,667.78. The Nasdaq composite index gained 0.89%, ending the day’s trading session at 7,462.45.

U.S. financial markets moved downward on Monday, as the Dow Jones Industrial Average fell 1.58% to 24,361.45. The Nasdaq composite index lost 0.50%, ending the day’s trading session at 7,396.59.

The close of the market on Friday saw the company’s stock hit an all-time low of $6.57. By contrast, the stock’s all-time high was $14.12 in 2015. Precipitating the slide was Thursday’s news, reported here, that Townsquare is selling NAME (North American Midway Entertainment) back to Danny Huston.

December 2012 is the last time the Lumineers had a No. 1 hit on the Billboard Hot 100. Ho Hey -- it's also the last time Entercom Communications' stock price was at the level it was as of Friday's Closing Bell, ahead of the Memorial Day weekend.

U.S. financial markets fell on Thursday, but activity among media companies was mixed. Nexstar Media Group enjoyed a gain, as did Emmis, while Entercom and Entravision each suffered downturns.

Sinclair Broadcast Group shares dipped again on Wednesday, as investors learned of RBR+TVBR's exclusive report that a $65 million sale of KPLR-11 in St. Louis to Meredith Corp. has been derailed by the U.S. Department of Justice. Meredith stock was also down.

U.S. financial markets were largely down on Tuesday, but Sinclair Broadcast Group and Tribune Media each fell following RBR+TVBR's report that the intended $65 million sale of a TV station it is divesting was scrubbed by the U.S. Department of Justice. The intended buyer's stock was also down.