Banner day setting up for TV broadcaster stocks


21st Century Fox (NASDAQ:FOXA) will pay as much as $85 per share for Time Warner (NYSE:TWX), according to Bloomberg.

The frothy premium hasn't gone unnoticed in the broadcaster sector with CBS (NYSE:CBS) up 1.6% premarket and Viacom (VIA, VIAB) rising 1.8%. Murdoch's 21st Century Fox is 1.7% higher, while even media giants Disney (NYSE:DIS) and Comcast (NASDAQ:CMCSA) are catching a piece of the frenzy, up 0.7% and 0.9% premarket, respectively.

TWX is in dreamland, up +20.2% to $85.32.

It's setting up to be a banner day for the PowerShares Dynamic Media ETF (NYSEARCA:PBS).

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Comments (1)
  • jackooo
    , contributor
    Comments (1738) | Send Message
     
    How about giving the REAL amount? Doesn't it seem like fraud when you just put the dollar amount in without mentioning the shares?
    Only takes another 20 seconds to do it right.
    16 Jul 2014, 12:28 PM Reply Like
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