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.
Beasley Bounces Up To New Heights
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.
Another New Low For iHeart’s ‘Stub’
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.
A Big Finish For Media Stocks
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.
Big Moves For Disney, FOX On News Of A Deal
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.
Slips and Slides For Radio Industry Stocks
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%.
A Double-Digit Slide For iHeart’s Stock ‘Stub’
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%.