Beasley Stock Resumes Its Upward Movement
In late December 2017, Beasley Broadcasting Group shares moved past the $14 mark. Since then, BBGI shares had been on the retreat. That ended today, thanks to a 3.9% gain that puts BBGI stock above $13 once again - and near its all-time peak levels.
Sinclair, Salem Buck The Red Trend
It was a decidedly down day for media stocks once again on Tuesday, with several companies losing ground from Monday's close. However, Sinclair Broadcast Group and Salem Media Group enjoyed gains.
Red Tide Continues For Media Stocks
The mood from investors in radio and TV companies so far in 2018 hasn't been too bright, on an overall level. With Monday's Closing Bell on Wall Street, several key media companies were down.
More Mixed Activity For Media Stocks
U.S. financial markets closed the week at an all-time high, with the Dow Jones Industrial Average soaring 217.71, to 25,292.84. The Nasdaq composite index was up 58.64, to 7,136.56. Unfortunately, media stocks largely failed to ride on the coattails of the overall market growth seen in the first week of 2018. Among the decliners in Friday's trading are The E.W. Scripps Co.
New Year, New Extention For iHeart Offers
"It's the same old song, but with the same exact meaning since you've been gone." To the surprise of no one, iHeartMedia on Thursday yet again extended the deadline for participation in its term loan offers and exchange offers crafted on March 15, 2017.
A Strong Session For Beasley Stock
U.S. media stocks continued their up-and-down movement on Thursday, with Beasley Broadcasting Group pacing advancers. The radio industry pure-play enjoyed a 4.9% gain, pushing it back toward its all-time highest levels seen in late December.
A Red Retreat For TV, Radio Stocks
Overall gains on Wall Street seen Wednesday failed to include many broadcast media companies, with Nexstar Media Group falling sharply on very high trading volume before rebounding slightly in immediate after-hours trading. Also sliding was Sinclair Broadcast Group.
End-Of-Year Profit Taking On Wall Street
U.S. financial markets were on their way to finishing 2017 on a down note Friday, as investors looked to cash in and earn a few extra dollars ahead of new taxation laws set for 2018.
Another Mixed Session For Media Stocks
It was a quiet Thursday on Wall Street, as the Dow Jones Industrial Average climbed 61.90, to 24,836.20. The Nasdaq composite index improved by 10.82, to 6,950.16. Among the key media movers was Townsquare Media and Urban One. Both companies lost ground today.
Another Rough Session For Salem Stock
U.S. financial markets finished Wednesday's trading on a positive note, with the Dow Jones Industrial Average climbing 28.09, to 24,774.30, and the Nasdaq composite index inching ahead 3.09, to 6,939.34. Media companies did not fuel the growth. Many saw dips in their stock value, including Salem Media Group.
A Woeful Wall Street Finish To 2017 For Radio Industry Pair
It's shaping up to be a bruising end to 2017 for several publicly traded media companies. Yet, with three days to go before the start of 2018 trading on Wall Street, two prominent radio broadcasting companies' shares stand out amid a sea of red-colored trading activity. One company sees its shares now worth mere pennies in value. Another radio company has also seen its stock plummet to never-before-seen lows.
A Hard Week’s End For Cumulus Shares
Today's big slide in share value for the "stub" of iHeartMedia stock wasn't the only big dipper investors can see ahead of Christmas Eve. Cumulus Media stock was off by some 16% just before 2pm Eastern, sending shares downward to their lowest-ever value.
Yuletide Slide For iHeart Stock ‘Stub’
The latest extension of the deadline for participation in the private offers to lenders under iHeartMedia subsidiary iHeartCommunications' Term Loan D and Term Loan E facilities to amend the existing loan terms came late Thursday, pushing into 2018 an offer that's been on the table for nine months. Investors reacted negatively in mid-afternoon trading on Friday, ahead of the Christmas Day holiday, sending iHeart shares down 34.2% as of 1pm Eastern.
SBS’s Sinking Feeling
Spanish Broadcasting System (SBS) suffered another downward move on Wall Street in Thursday's trading, finishing the day's session with a 8.6% drop. Meanwhile, Cumulus Media and iHeartMedia shares were unchanged. How did other media companies fare today?
Cumulus Shares Dip Below 8 Cents
With a 4.8% dip in trading on Wednesday, Cumulus Media shares stand at exactly $0.079. Meanwhile, SBS shares sank to just 17 cents while Pandora dipped to a new low. How did other media companies fare on Wall Street? Click here for the details.