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Stock Market & Financial Investment News

News Breaks
April 9, 2014
10:14 EDTGTN, NXST, SBGILocal TV station owners climb following Wells Fargo upgrades
Share of several companies that own local TV stations are climbing after Wells Fargo upgraded a number of names in the sector in a note to investors earlier today. WHAT'S NEW: After speaking with FCC representatives, Wells Fargo, which had previously been concerned that the agency could torpedo sharing deals, now does not expect the agency to veto sharing deals among TV station owners. Sharing deals refer to the sharing of facilities, employees, ad sales, and programming costs by multiple stations. The FCC's Media Bureau had expressed concern that such deals could prevent station owners from having sufficient incentive to operate stations effectively, trade publication Multichannel News reported last month. Wells had also been concerned that the FCC would look to cancel deals involving the buying and selling of TV stations. However, the firm is no longer worried about this issue following its FCC meetings. Additionally, Wells believes that the shares of TV broadcasters it covers are undervalued. The firm upgraded Sinclair Broadcast (SBGI), Gray Television (GTN), and Nexstar (NXST) to Outperform from Market Perform. Wells increased its price target ranges on Sinclair to $32-$34 from $25-$27, on Gray Television to $13-$15 from $10-$12, and on Nexstar to $50-$52 from $36-$40. PRICE ACTION: In early trading, Nexstar surged 7.8% to $40.24, Gray Television jumped 14% to $11.30, and Sinclair rose 5.4% to $28.85.
News For NXST;GTN;SBGI From The Last 14 Days
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February 11, 2016
06:28 EDTSBGISinclair Broadcast files automatic mixed securities shelf
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February 5, 2016
07:59 EDTNXSTDistribution deal with Cox a clear positive for Nexstar, says Stephens
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February 4, 2016
17:10 EDTNXSTNexstar and Cox Communications reach distribution agreement for 13 stations
Nexstar reached a new distribution agreement with Cox Communications allowing the cable television provider the right to resume carrying Nexstar's network and local community programming. The agreement covers Nexstar's broadcast platform inclusive of 13 network affiliated and local stations in nine markets. Programming on all stations will resume as soon as possible. Specific terms of the agreement are not being disclosed.
February 1, 2016
09:01 EDTGTNGray Television announces Chairman William Mayher III passed away
Gray Television announced that William E. Mayher, III, the Chairman of Board since August 1993, passed away yesterday in Athens, Georgia. Throughout his tenure, Mayher had been an active member of Board of Directors, serving on and chairing virtually every Board committee at various times.
January 31, 2016
14:54 EDTNXSTNexstar 'remains eager' to reach agreement after Cox drops programming
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January 28, 2016
17:20 EDTNXSTNexstar comments on Cox making 'mischaracterizations'
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10:35 EDTNXSTCox Communications: Nextar, Media General merger 'not in the public interest'
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07:45 EDTSBGISinclair Broadcast to hold a conference call
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