Media Stocks Gain as Market Bounces Back

By Jon Lafayette
( Broadcasting & Cable )
published

The stock market bounced back after three days of declines, and media stocks went along for the ride.

With the markets hearing some hopeful news about European debt, the Dow Jones Industrial Average rose 275.56 points Wednesday to close at 11,414.86, a 2.47% increase.

Crown Media jumped 12.93% on Thursday, with its stock finishing at $1.31 a share after spiking as high as $1.37. Trading at a relatively low price, Crown share tend to be volatile when the market makes big moves.

Among other companies in the TV business, the biggest gainers were CBS, which gained 3.54% to finish at $23.66 a share; AMC Networks, up 3.35% to $33.97; Comcast, advancing 3.28% to $21.39 and Cablevision Systems, up 3.20% to $17.10.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.