Broadcasting Stocks

U.S. financial markets experienced a miserable start to March 2018, as the Dow Jones Industrial Average plummeted 1.7% and Nasdaq was off 1.3%. How did media stocks fare? TEGNA and Salem Media Group were up. Everyone else? Don't ask.

There's no mincing words with what happened Wednesday on Wall Street: Media stocks, and the overall market, got creamed. The Dow Jones Industrial Average sank 380.83 points to 25,029.20, losing 1.5% of its value. Nasdaq was off 57.35 points, finishing at 7,273.01. For many media industry stocks, including Sinclair Broadcast Group, the losses were substantial compared to a normal trading day.

It was a decent day on Wall Street for Emmis Communications and its head, Jeff Smulyan. The company's shares closed up 3%, to $4.15, to continue a healthy growth streak that began on Feb. 22, when EMMS shares were at $3.31. Unfortunately, that's the lone positive news regarding media stocks, aside from a 1-cent climb for SBS shares to 32 cents. Everyone else was down.

U.S. financial markets started the final week of February 2018 off with a bang, as the Dow Jones Industrial Average soared 399.28 points to finish Monday's trading at 25,709.27. Nasdaq was ahead by 84.07 points, to 7,421.46. Pacing today's gains were Nexstar Media Group, and American Tower Corp.

U.S. financial markets ended the week with a bang on Friday, as the Dow Jones Industrial Average soared 347.51 points, to 25,309.99, and the Nasdaq composite index surged 127.31 points, to 7,337.39. Widespread gains were seen across the media landscape — although Beasley Media Group, Salem Media Group and Pandora had a down day. Meanwhile, what's up with iHeartMedia?

TEGNA shareholders will be getting a small bonus soon, as the company's Board of Directors on Thursday declared a dividend of 7 cents per share.

Entercom Communications will release its Q4 2017 financial results before the market opens on March 8. Comps could be interesting, as Entercom completed its Reverse Morris Trust-fueled merger with CBS Radio during the quarter. Meanwhile, the industry is very curious as to what iHeart's Q4 plans are as bankruptcy talk increases.

It was another day of mixed activity on Wall Street, as Veritone Inc. fell to its lowest level since July 2017. On the contrary, it was a good session for Nexstar, and for Viacom's Class B shares. Why was Veritone down? Blame an analyst's haircut.

With financial markets closed Monday (2/19) in the U.S. for Presidents' Day, RBR+TVBR analyzed broadcast media companies and their digital partners for top performance over the past 12 months. One company sticks out as a true juggernaut on the NYSE. It's American Tower.

Publicly traded radio and TV companies entered the Presidents' Day holiday weekend on a down note Friday, as CBS Corp. shares retreated from a pre-Q4 earnings release again seen on Wednesday. Also down: Gray Television, Sinclair Broadcast Group, and Nexstar. Meanwhile, many are asking when iHeart's Q4 results will be shared — or if they're being scrapped as a prepackaged bankruptcy plan nears.

The board of directors of The E.W. Scripps Company, which has put all of its radio stations up for sale, has declared a cash dividend for Q1 2018. This will mark the first time the company has paid a quarterly dividend in a decade.

There was more green on Wall Street Thursday, as U.S. financial markets continued their comeback in a big way. Among the media companies gaining ground: Sinclair Broadcast Group, Nexstar Media Group, and CBS Corp., which released its Q4 2017 earnings results following today's Closing Bell. We take a peek at the company's performance.

U.S. financial markets enjoyed another positive session on Wall Street on Wednesday, as the Dow Jones Industrial Average gained back 253.04 points to close at 24,893.49. Nasdaq was up 130.10, to 7,143.62. Among the media companies also enjoying a step in the right direction: Entercom.

U.S. financial markets headed in the right direction on Tuesday, as the Dow Jones Industrial Average gained 39.18 points, to 24,640.45. The Nasdaq composite index was up 31.55, to 7,013.51. Media issues were largely up. Townsquare Media saw an important rise, while Sinclair Broadcast Group advanced in a healthy way.

The week on Wall Street started off in a largely positive manner for media issues, as the Dow Jones Industrial Average was up 2% in the final 30 minutes of trading on Monday. While Entercom was down 2% at the Closing Bell, all other radio and TV companies tracked by RBR+TVBR were up.