TV broadcast stocks in rally mode


TV broadcast stocks are outperforming for the day after the sector was tapped by M.D. Sass to soar.

The investment firm notes there is a disconnect between the 10% of carriage fee revenue broadcasters haul in compared to the 35% of total viewing they account for across the industry. A normalization of the revenue mix is in the "early inning," according to Sass.

A timely initiation by Wells Fargo of Media General at Outperform is also giving a boost.

Gainers: E.W. Scripps (SSP+7.6%, Nexstar Broadcasting (NXST+5.7%, Media General (MEG+4.8%, Liberty Interactive (LVNTA+1.9%, Sinclair Broadcast Group (SBGI+1.9%, Gray Television (GTN+1.7%.

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