Broadcasting Stocks

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.

On Tuesday, investors in Spanish Broadcasting System (SBS) narrowly escaped a record low for the Hispanic-focused media company's stock. On Wednesday, a repeat performance couldn't be had: SBS dipped 22.6% to $0.395 — bringing it to its lowest-ever level.

Here's the good news: Media stocks largely saw positive moves in Tuesday's trading on Wall Street. Here's the bad news: Cumulus Media was not among those companies, as its shares slipped another two cents, finishing the day at $0.15.

The publicly traded "stub" of iHeartMedia shares took a beating on Wall Street today, sliding to 60 cents in midday trading before settling with a 6.6% dip, to 85 cents. Why the sharp drop for iHeart? On Wednesday, just before the Thanksgiving Day holiday, it extended -- yet again -- the deadline for participation in its Term Loan Offers, Exchange Offers and Consent Solicitations. Meanwhile, Entercom went ex-Dividend today. We have all of the details.

It's been a great month for Nexstar. In the past 30 days, the company's stock has sharply rebounded. As of midday Wednesday, its shares are just shy of its six-month high.

With the Thanksgiving Day holiday fast approaching, Cumulus Media investors are cashing out -- a sign that they're displeased with the company's shift on Wednesday from the Nasdaq Capital Market exchange to the OTC Markets’ OTCQX market tier. As of 1:15pm Eastern, Cumulus shares -- still trading under the "CMLS" ticker symbol -- were off a sharp 26.6%.

Cumulus shares fell to 26 cents in Tuesday's trading on Wall Street, on higher-than-average volume. The dip comes as the "stub" of publicly traded shares of iHeartMedia fell by 10%, to 90 cents, while wildly volatile AI company Veritone Inc. saw its shares slump by 8.4%

U.S. financial markets ended the week on a down note Friday, with the Dow Jones Industrial Average sliding 99.84, to 23,358.52, and the Nasdaq Composite index off 10.50, to 6,782.79. However, media stocks were on the rise, finishing the week on a positive note.

Viacom reported fiscal Q4 2017 earnings today that were "OK versus expectations," says Pivotal Research Group Senior Research Analyst/Advertising Brian Wieser. But, the owner of MTV, Nickelodeon and BET provided an outlook that was worse than expected. That reset Pivotal's price target on Viacom shares, which sank to a new five-year-low.