- With tech selling off in what many tech investors see as an overdue breather, older-line media is having a moment today.
- CBS (NYSE:CBS) is up 2.3% today amid word that it's gotten an early jump on its upfront ad sales. Among other big broadcast nets: DIS +0.6%; FOXA +0.6%; CMCSA +0.2%.
- Cable nets are having a good day as a group as well: AMC Networks (NASDAQ:AMCX) up 2.1%; Scripps Networks Interactive (NYSE:SNI) up 1.5%; Discovery Communications (NASDAQ:DISCA) +1.2%; Viacom (NASDAQ:VIAB) higher by 1.1%.
- And among news publishers: Scripps (NASDAQ:SSP) is up 2.2%; Meredith (NYSE:MDP) up 1.7%; Gannett (NYSE:GCI) up 0.6%. The New York Times Co. (NYSE:NYT) is sitting out the rally for now, flat on the day.
- Previously: Variety: CBS, cablers start early upfront ad sales (Jun. 09 2017)