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Stock Market & Financial Investment News

News Breaks
April 9, 2014
10:14 EDTNXST, SBGI, GTNLocal 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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May 20, 2015
12:36 EDTGTNGray Television agrees to acquire KOSA-TV for $33.6M
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May 19, 2015
09:04 EDTSBGISinclair Broadcast division to televise MiLB's games
The American Sports Network, a division of Sinclair Networks Group, announced that ASN has reached an agreement with Minor League Baseball, or MiLB, to televise a weekly game this summer. The new series, called "Minor League Baseball Sunday Showcase" will debut with a Pacific Coast League matchup between the Iowa Cubs and the El Paso Chihuahuas on Sunday, May 31, at Southwest University Park in El Paso, Texas.
May 18, 2015
08:11 EDTGTN, NXSTGray Television Nexstar outlook attractive, says Wells Fargo
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May 13, 2015
07:16 EDTNXSTMoffett Nathanson to hold a summit
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May 12, 2015
15:35 EDTSBGISinclair Broadcast announces distribution deal with Chideo
Chideo announced a first-of-its-kind partnership with Sinclair Broadcast Group to expand Chideo's reach by 42 million households. Through this unique distribution deal, Sinclair will connect its broadcast and digital audience with Chideo's inspirational and entertaining content all to benefit the world's leading charities. Sinclair's 161 local television stations will provide much-needed public awareness for these causes, as well as direct financial support from the sale of advertising and sponsorships around Chideo's rich collection of exclusive content from more than 100 celebrity ambassadors.

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