Broadcasting Stocks

Don't look now, but long-term investors in Beasley Broadcast Group shares may be ready to have an extra glass of champagne come New Year's Eve. As of today, the company's stock is at a five-year high.

The publicly traded "stub" of iHeartMedia stock fell again in Monday's trading. At the Closing Bell, it reached a new low on lighter-than-average trading volume. Pandora, SBS, and Salem also had difficult starts to the week on Wall Street.

Media stocks ended the week on a largely positive note, aside from SiriusXM, which saw a deep dive on Wall Street as investors reacted to a rate hike in royalty fees for the satcaster. Among the gainers: Beasley, Entercom, and Gray Television.

To little surprise, investors cheered today's transaction involving 21st Century FOX and The Walt Disney Co. by buying shares in both companies. Disney stock jumped by 2.75%, while FOX shares soared by 6.5%. Meanwhile, it was another down session for iHeartMedia on Thursday, as Entercom rebounded with a 4% gain.

It was another difficult trading session for the nation's two largest radio broadcasting companies by number of stations. Cumulus Media's stock reached a new low, while the publicly traded stub of iHeartMedia shares gained 4% in the closing minutes of trading after being down 4%.

Investors reacted negatively to a SEC filing made Monday by iHeartMedia that its iHeartCommunications subsidiary is “currently exploring a possible private capital-raising transaction.” At the Closing Bell on Wall Street Tuesday, the company's publicly traded shares were off 16.7%.

The week started off with ups and downs for media issues on Wall Street today, with Entercom rebounding after a string of small dips and SBS recouping some of its steep Friday losses. Meanwhile, Cumulus shares were down to under 10 cents a share.

While Spanish Broadcasting System (SBS) Chairman/CEO Raul Alarcón Jr. holds the controlling interest in the Hispanic-focused multimedia company, there is a publicly traded "stub" that is very similar to iHeartMedia's "stub" of shares. While iHeartMedia has its share of troubles with lenders regarding its outstanding debt, SBS has had its fair share of financial concerns, too. Now, shareholders may be revolting.

U.S. financial markets propelled forward on Thursday, with the Dow Jones Industrial Average climbing 70.57, to 24,211.48, and the Nasdaq Composite rising 36.47, to 6,812.84. But, media stocks were mixed, with Nexstar rising again but other media companies seeing losses on Wall Street.

On Sept. 4, Nexstar Media Group shares sat at $57.80, with some wondering if the broadcast TV's shares were somewhat undervalued. The dip in value erased improvements seen since a similar dip in mid-June, and in mid-May. Today, Nexstar shares are on fire. With Wednesday's Closing Bell on Wall Street, they're ever-closer to reaching a new five-year high.

The publicly traded "stub" of iHeartMedia shares fell 6.7% in Tuesday's trading, to 70 cents, as investors continue to express nervousness over a counter proposal offered by the company's debt holders that would give it nearly all equity in iHeart and 100% equity of Clear Channel Outdoor. Meanwhile, Cumulus Media is indeed still trading, but under the “CMLSQ” symbol — a reflection of its Chapter 11 bankruptcy filing. What's the current value for Cumulus shares?

Beasley Broadcasting Group stock fell by five cents, to $11.10, in Tuesday's trading following an announcement late Monday from the company's Board of Directors that it has declared a quarterly cash dividend.

For the first time since August, CBS Corp. shares closed above the $60 mark -- marking a strong resurgence for the media company since last Tuesday. How did other media issues fare on Wall Street? Click here for quick-look market rundown.

Back on Feb. 13, Pandora Media shares were trading at $13.58. Since then, the company has struggled to grow at the same levels it did just five years ago. On Friday, on heavier than average volume, "P" plunged by more than 4% to come very close to its all-time low of $4.57. That low was achieved on Nov. 6.

With Entercom head David Field emerging as the industry's biggest cheerleader and advocate and marketers rediscovering the power of AM and FM radio, 2018 looks to be a pivotal year for growth. Unfortunately, the troubles at iHeartMedia and Cumulus Media have unfairly clouded the entire industry. Most radio companies were down in Thursday's trading. Four radio companies were up following Thursday's Closing Bell -- and that shows savvy among some investors.