SBS and Radio One took the biggest hits in the market yesterday with SBS cliff-diving 58%. Spanish Broadcasting declined $3.82 in the market yesterday and will open this morning at $2.78. Radio One dropped 16% by the time the closing bell rang. Radio One will open this morning at $1.17 after dropping .22. Cumulus was down just under 12%, Entercom dropped nearly 11% and CBS (the parent company of CBS Radio) was off 10.3%. Salem and Beasley were both down about 6%. Ed Christian's Saga Communications was the strongest performer of the day. When the broader market was flirting with a 400 point drop, Saga was up 4%. However, by 4PM even Saga was under the red line down 1.29%. Saga has performed well in 2011, despite the last week, the company is still up 13% for the year.
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