Saga, TEGNA Lead The Way On Monday


It was another mixed day on Wall Street for media companies, as the Dow Jones Industrial Average improved 85.33 points, to 20,981.94, and the Nasdaq Composite was up 28.44, to 6,149.67.

Leading the way was Saga Communications. The media company, which is set to become a pure-play radio broadcast entity following the sale of its TV assets to Morgan Murphy, saw its stock price climb 2.4%, to $50.15.

TEGNA, the TV company known as Gannett before the spin-off of newspaper properties, improved 3.8%, to $23.52.

Among the key decliners are Monday were Nexstar Media Group, Sinclair Broadcast Group, and Viacom‘s Class B shares.

On the digital front, Snap Inc. rebounded with a $1.60 gain, to $20.74.