More bad news for the radio sector on Wall Street: the annual reconstitution of the Russell 3000 Stock Index, which measures the overall performance of the largest 3,000 U.S. companies, will dump four radio companies from the Index. Those are Sirius XM, Entravision, Entercom & Cumulus, with no other media companies replacing them. The Russell 3000 is comprised of large and small capitalization companies, covering the broad overall stock market. The index “reconstitutes” every 12 months, to reflect the market as a whole. There were 427 overall changes to the Index, which are listed here. In addition, Emmis Communications, Spanish Broadcasting System, Salem Communications, Saga Communications & Radio One were dropped by the Russell Microcap stock index. The microcap index covers companies that hold market capitalization ranging from about $50 million to $2.5 billion. See that list here.