Banner day setting up for TV broadcaster stocks

|By:, SA News Editor

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).