Entercom Powers Media Stocks On Tepid Tuesday


There was little movement on U.S. financial markets on Tuesday (4/11), as the Dow Jones Industrial Average slipped 6.72, to 20,651.30. Nasdaq was off 14.15, to 5,866.77.

But, Entercom Communications — the company merging with CBS Radio in a Reverse Morris Trust-fueled transaction — enjoyed an up day on Wall Street with a 55-cent gain, to $13.90.

Also enjoying a gain was Meredith Corp., up 70 cents, to $64.40. The Walt Disney Co. gained 66 cents, to $113.09.

It was another difficult trading session for Cumulus Media, as shares dipped 0.0075 cents to $0.2714 on news that Moody’s had downgraded the company.

For more on Cumulus and on today’s activity on Wall Street for media companies, just click on the homepage for RBR.com.



Please enter your comment!
Please enter your name here