Hump-Day Bump Ups For Media Stocks


Mid-week trading for radio and television companies on Wall Street was largely positive, with Meredith Corp. soaring 9%, to $60.25, as the company easily beat the street with its fiscal Q2 2017 earnings per share.

Cumulus Media jumped out of the red zone with a 5.65% climb, to $1.03, on word that it has extended the early tender date for its previously announced private exchange offer for any and all 7.75% Senior Notes due 2019 to 5 p.m. Eastern on Feb. 13.

Gray Television enjoyed a strong session, ending at $11.60, as did Nexstar Media Group, climbing 2.2%, to $63.50.

Meanwhile, the troubles continue for Spanish Broadcasting System following its Nasdaq delisting and shift to an over-the-counter market as “SBSAA.” Wednesday saw the company’s shares dip 8.24%, to $1.56.

The RBR Radio Index rose 14.655, or 2.49%, to 602.174.
The TVBR Television Index rose 17.837, or 1.88%, to 967.959.


Radio One, up 9.1%

Gray, up 5.9%

Cumulus, up 5.6%



SBS (as “SBSAA”), down 8.24%

Emmis, down 0.6%

Tribune Media, down 0.3%