Broadcasting Stocks

With 30 minutes remaining in Friday's trading on the U.S. financial markets, two of the radio industry's largest broadcasting companies suffered further declines in their stock price. This put both Beasley Media Group and iHeartMedia at new lows.

Thursday proved to be a difficult one for Beasley Media Group shareholders, as BBGI declined by 8% to just $0.8740. This marks the lowest-ever closing price for Beasley stock over the last 20 years.

Friday's trading on Wall Street was full of downward momentum for publicly traded radio and television companies, with Nexstar Media Group and Sinclair Broadcast Group leading the decliners. In contrast, Townsquare Media was up. However, the biggest news of the day was a 46.2% day-over-day decline for Audacy Corp. stock. 

Silicon Valley Bank, the financial institution owned by SVB Financial Group, which recently bought influential Wall Street advisory firm MoffettNathanson, was closed on Friday by the California Department of Financial Protection and Innovation. It appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

The Thursday earnings release from the global ad solutions, media and technology company with its roots in U.S. Hispanic broadcast media will mark the first such distribution of financial data since the unexpected death of its Chairman/CEO.

Two days after iHeartMedia released its fourth quarter and full-year 2022 results, the nation's largest audio content creation and distribution company continued to suffer from a significant sell-off of shares on the Nasdaq GlobalSelect exchange. With Thursday's Closing Bell, IHRT fell an additional 5%. After-hours gains were seen again Thursday, but will they hold on Friday?

The audio content creation and distribution company that owns a group of radio stations, is invested in podcasting and has the eponymous Audacy streaming audio app saw its stock price fall to a fresh record low on Thursday.

Salem Media Group, which trades on the Nasdaq and was up 4.5% in immediate after-hours trading to $1.39 on Wednesday, has announced when it plans to report its fourth quarter 2022 financial results.

In June 2021, Saga restored its quarterly dividend, suspended one year earlier in response to the COVID-19 pandemic. Since then, cash payouts of $0.16, and $0.20, per share were declared. Now, the Saga board has declared a quarterly cash dividend that is even richer for shareholders.

Nexstar Media Group's President/COO and EVP/CFO have been confirmed as participants in the upcoming Morgan Stanley Technology, Media & Telecom Conference.

Salem Media Group, known for its conservative News/Talk radio stations and its Christian-themed audio and print media, has issued an irrevocable notice of redemption to the trustee of its outstanding 6.75% Senior Secured Notes due 2024. What does this mean?

Two of the nation's biggest owners of radio stations have decided when they will respectively release their fourth quarter and full-year 2022 earnings reports. Each of the dates are in March, and for Audacy Corp., the choice is on the day on which Roman Emperor Julius Caesar was assassinated in 44 B.C.

An 11am Eastern earnings call was held on Thursday morning, with CEO Caroline Beasley and CFO Marie Tedesco discussing the results. Were the company's results in line with estimates provided by the two Wall Street analysts tracking Beasley?

TelevisaUnivision is putting the finishing touches on its fourth quarter and full year 2022 financial results. When will the company led by Wade Davis release the report?

The nation's No. 1 licensee of radio stations has determined when it will be distributing its fourth quarter 2022 fiscal health report.