Thursday, January 12, 2012

Radio Stock Update 4

I read just today that Peak Broadcasting was headed into Chapter 11. It reminded me that perhaps it was time to do an update to my long-running series of posts on radio stocks. I've been checking in on the radio stocks that had IPOs in the 1990s to see how one might fare if they'd held onto those. Peak Broadcasting is a private company and I cant include them here, but there is plenty of other fodder.

As you can see very few meet or beat their IPO; Sinclair makes the cut, as does Saga. Many of the others have turned out to have been solid buys had to liquidity in the 2008 crash, but that's all too few of us. Radio stocks continue to be a dubious buy.

Clear Channel Communications CCU/NYSE
IPO 7/6/1994 - 29.9
Peak - 11/5/07 - 38.4
07/24/08 -WENT PRIVATE

Cumulus Media CMLS/NASDAQ
IPO - 11/16/2001 - 6.99
Peak - 4/23/2004 -22.25
10/15/08 - 1.77
03/02/09 - 1.82
12/22/10 - 2.27
12/15/10 -  3.70
Currently -  3.71

Saga Communications SGA/NYSE
IPO - 10/15/1993 - 5.4
Peak - 5/3/2002 -23.20
10/15/08 - 4.9
03/02/09 - 4.28
12/22/09 - 12.75
12/15/10 -  24.40
Currently -  38.39

Entravision Communications EVC/NYSE
IPO - 8/11//2000 - 18.1
Peak - 8/18/2000 - 20.0
10/15/08 - 1.3
03/02/09 - 0.84
12/17/08 - DE-LISTING LETTER
12/22/09 -3.39
12/15/10 -  2.49
Currently -  1.38

Citadel Broadcasting CDL/NYSE
IPO - 8/1/2003 - 20.09
Peak - 12/26/03 - 22.7
09/15/08 - DE-LISTING LETTER
10/15/08 - 0.26
03/02/09 - 0.2
03/06/09 - DE-LISTED
12/20/09 - DECLARED BANKRUPTCY
06/01/10 - EMERGED FROM BANKRUPTCY


Regent Communications RGCI/NASDAQ
IPO - 3/4/2000 - 13.12
Peak - 3/11/2008 - 13.68
08/16/08  - DE-LISTING LETTER
10/15/08 - 0.7
06/30/09 - DELISTED (Stock now trades on the OTC Bulletin Board.)

Cox Radio CXR/NYSE
IPO - 10/11/1996 - 7.2
Peak - 12/31/1999 - 33.25
10/15/08- 6.85
03/02/09 - 5.20
06/01/09 - WENT PRIVATE

Entercom Communications ETM/NYSE
IPO - 3/12/1999 - 29.68
Peak - 2/4/2000 - 65.8
10/15/08- 2.34
03/02/09 - 1.28
12/22/09 - 7.48
12/15/10 - 9.35
Currently -  7.21

Salem Communications SALM/NASDAQ
IPO - 07/02/1999 - 26.375
Peak - 04/23/04 - 33.08
10/15/08- 1.01
03/02/09 - 0.56
12/22/09 - 4.48
12/15/10 - 9.35
Currently -2.54

Beasley Broadcasting BBGI/NASDAQ
IPO - 02/11/2000 - 14.125
Peak - 02/13/2004 - 19.05
10/15/08 - 1.71
03/02/09 - 1.11
12/22/09 - 3.82
12/15/10 - 4.77
Currently -  3.38

Emmis Communications EMMS/NASDAQ
IPO - 03/04/1994 - 7.75
Peak - 12/31/1999 - 62.32
10/15/08- 0.60
03/02/09 - 0.31
12/22/09 - 1.23
11/05/10 -  DE-LISTING LETTER
12/15/10 - 0.47
Currently - 0.72

Radio One ROIAK/NASDAQ
IPO - 06/02/2000 - 65.00
Peak - 06/02/2000 - 65.00
10/15/08 - 0.301
03/02/09 - 0.41
12/22/09 - 3.29
09/20/10 - DE-LISTING LETTER
11/22/10 - REGAINED COMPLIANCE
12/15/10 - 1.01
Currently - 0.94

Sinclair Broadcast Group SBGI/NASDAQ
IPO - 06/09/1995 - 9.54
Peak - 04/03/1998 - 29.81
10/15/08 - 6.64
03/02/09 - 1.13
12/22/09 - 3.66
12/15/10 - 8.36
Currently - 12.74

Spanish Broadcasting System SBSA/NASDAQ
IPO - 11/05/1999 -26.625
Peak - 12/31/1999 - 40.25
10/15/08 - 0.41
03/02/09 - 0.09
12/22/09 - 0.75
02/13/10 -  DE-LISTING LETTER
05/01/10 - REGAINED COMPLIANCE 
10/18/10 -  DE-LISTING LETTER
12/15/10 - 0.74
Currently - 2.84