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Radio Broadcasters As An Investment

F

formerradio

Banned
As the end of 2024 comes rolling around. I thought I would look at publicly traded radio group stock prices. There seems to be a trend.

BBGI Beasley High of the year, January $ 19.00, Today $ 9.27
CMLS Cumulus High, January $ 5.40, Today $ 0.72
EMMS Emmis High January $5.25, Today 3.41
SGA Saga, High March $24.70, Today $ 11.89
SALM Salem High April $0.42 Today $0.17
IHRT IHeart High February $3.04, Today $2.11
UONE Urban 1 High January, $4.24, Today $1.49
TSQ Townsq High April, $13.57, Today $9.59
SBSAA Spanish High January $0.81 Today $0.30


Nothing looks great, some are a disaster.
The S&P is up 24% for the year.
 
formerradio said:
Nothing looks great, some are a disaster.
The S&P is up 24% for the year.
Click to expand...

Nobody buys radio company stock as a growth investment. That idea ended at least 15 years ago. The one company not on your list is Audacy, and as part of their bankruptcy agreement took the company private. To me, that's the best way to run radio: As private companies.

You also didn't include Sirius on your list, and their stock crashed a few weeks ago. There's another thread on this site about the company refocusing their direction mainly on the core satellite business instead of their app.

You might also include all of the linear media companies, such as WBD, Comcast/NBC Universal, Paramount, and Disney. All of the major media companies are struggling this year as they look to get out of cable and concentrate on streaming. That's what's happening. Everyone wants to ditch traditional 24/7 linear for on-demand streaming. The companies who recognize that will grow. Radio is a small part of a much bigger trend.
 
FreddyE1977 said:
Just curious, are those quotes from before or after the "AM Radio in Every Car" provisions were dropped from the CR in Congress?
Click to expand...
If those quotes were from the day they were posted, then it would have to be after, since the CR had been passed and signed into law a couple days earlier.

That said, I doubt that it matters -- AM is not a major component of the value of most of those companies.
 
SALM up 150% today on the news of their asset sale and debt refinance. The entire sector has had a miserable last few years, but I think sentiment is way too negative.
If I was going to buy one it would be BBGI tho. They’ve been cutting costs a lot more aggressively than everyone else, and their radio properties are mostly in big markets.
 
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