Dec. 15, 2014, 10:00 AM
- Select broadcast TV stocks are higher after the FCC approves the merger between Media General and LIN Media.
- Shares of the new combined company will trade under the Media General name and symbol after the deal closes later this month.
- Some media analysts think further consolidation within the sector is likely.
- Broadcasters: Media General (NYSE:MEG) +3.7%, LIN Media (NYSE:LIN) +3.0%, Nexstar Broadcasting Group (NASDAQ:NXST) +1.4%, Journal Communications (NYSE:JRN) +1.0%, Liberty Ventures (NASDAQ:LVNTA) +0.6%.
Aug. 28, 2014, 12:46 PM
Jul. 23, 2014, 5:41 PM
May. 12, 2014, 1:20 PM
- 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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