Business

After a long losing streak, U.S. stocks surged on Thursday on solid earnings reports. The rally wiped out a large part of the market’s plunge from the day before, but stocks are still down sharply over the past three weeks.

The rise to $2.5 billion was attributed to increased advertising, retrans and content licensing revenue, primarily driven by higher rates and revenue associated with Telemundo’s broadcast of the 2018 FIFA World Cup.

Tech companies led another steep sell-off in U.S. stocks on Wednesday. The tech-heavy Nasdaq composite bore the brunt of the sell-off, leaving it more than 10% below its August peak, what Wall Street calls a “correction.” The Dow and S&P 500 erased their gains for the year.

Facebook is giving more details about who is spending the most money on political ads on its platform, and the leader this election cycle is … Facebook. Facebook calculated its political ad spending to be $12 million, for ads on the social network and Instagram. Those ads were, in general, related to getting out the vote and the latest changes to the platform to clean up political messaging. Democratic Rep. Beto O’Rourke of Texas, who is running for the Senate, is the top candidate spender.

Fox and YouTube TV, the presenting sponsor of the World Series, are putting a number of innovative commercial executions into their advertising batting order. Many of the executions will play off of the situation on the field and will use YouTube TV’s new slogan “Watch Like a Fan.”

The broadcaster wants to replace its existing priority revolving credit facility with a new five-year revolving credit facility and amend its current term loan.

The sale of W16CO-D Middleburg and W14DF-D Elliottsburg, Pa., tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.

On Tuesday, stocks mostly recovered from an early plunge on Wall Street. Even with the late-afternoon rebound, stocks extended the market’s recent string of declines, giving the benchmark S&P 500 index its fifth-straight loss. Bond prices rose, sending yields lower, as investors sought out safer investments.

The Nexstar Media Group executive will be honored by the Broadcasters Foundation of America at its annual fundraising gala in New York in March.

With David Nevins, a so-called content guy, installed in a chief creative role, it looks more logical for the CBS board to settle on a numbers guy, like Joe Ianniello, […]

The Nexstar Media Group executive will be honored by the Broadcasters Foundation of America at its annual fundraising gala in New York in March.

Banks, health care and energy stocks helped pull the market lower Monday, outweighing gains by technology and consumer-focused stocks. Crude oil prices eked out a small gain after spending most of the day in the red.

Netflix said Monday it is tacking on an additional $2 billion in debt so it can continue to make original shows and movies and license content from others as it faces mounting competition from other streamers, including services expected next year from Disney and WarnerMedia.

Legal sports betting stands to generate an extra $4.2 billion a year for America’s four main professional sports leagues, according to a new study. The study by Nielsen Sports allocates $2.3 billion of the windfall to the NFL, followed by $1.1 billion to MLB, $585 million to the NBA and $216 million to the NHL.

CBS has been the great ATSC 3.0 naysayer. But now that retrans-centric CEO Les Moonves is gone and 4K is an apparent must for future NFL broadcasts, we can hope that it will reconsider and join Fox and NBC in embracing the new broadcast standard.

Automakers are usually all about what’s new — new product, new technology, new brand image. But they’re also pragmatic businesses willing to milk profits out of what’s old. Which is why, for instance, Lincoln will keep building its slow-selling MKT crossover after its successor, the Aviator, arrives in showrooms next year.

CBS named Parsons interim chairman in September as it tried to reshape itself following the ouster of its longtime chief Les Moonves. He’s stepping doen, the company says, because of illness. The media company named Strauss Zelnick, another media industry leader, as his replacement.

New Fox Chairman and CEO Lachlan Murdoch looked outside for a leader of the soon-to-be independent Fox broadcasting network that will emerge after Disney’s acquisition of key Fox assets. AMC President and General Manager Charlie Collier has been named CEO of entertainment. He will start Nov. 1, reporting to Murdoch who made the announcement Friday in an internal memo.

U.S. stocks wobbled Friday at the end of another shaky week of trading. Stocks surged in early trading after better-than-expected reports from several large companies. But the gains for indexes faded after a report showed U.S. home sales fell for the sixth month in a row. That hurt smaller and more U.S.-focused companies.

Facebook’s 2016 scandal on miscalculating video views is back in the spotlight thanks to a lawsuit from marketers that allege they were misled by the metric. The plaintiffs also claim Facebook knew of its error more than a year before disclosing it to advertisers. Yet while journalists debate whether the inflated metrics caused the “pivot to video” or not, ad buyers are rather unfazed by the litigation.