Speculation that a major central bank will help to stimulate the global economy contributed to a roughly 2% gain in the market in mid-afternoon trading, pushing stocks back into positive territory for 2012. The Dow Jones U.S. Media Index is up 1.6% and the SNL Kagan Media and Entertainment Index is +1.9%. News Corp, up 3.5%, is enjoying the biggest jump among Big Media companies. It’s followed by Sony (+2.7%), Comcast (+2.1%), Viacom (+1.9%), Time Warner (+1.8%), CBS (+1.6%), and Disney (+1.1%). Elsewhere in media, LIN TV, Coinstar, and Entercom are up more than 6%, while Lionsgate and McClatchy are up at least 4%. Even Facebook is enjoying a rare bounce: It’s up 4.5%, but still off 29% from its IPO price last month. The day’s few decliners include Barnes & Noble (-1.4%), Cinedigm (-1.3%), and Sinclair (-1.0%).
Media Stocks Join Wall Street Rally On Optimism About Economic Relief
For all of Deadline’s headlines, follow us @Deadline on Twitter
Sign up for Newsletters
Trending Now on Deadline
UPDATE: 'Cops' Bryce Dion Killed By Friendly Fire In Omaha While Filming Response To Wendy's Robbery
About 1 Million Watch Chelsea Handler Say So Long To E! As Gwen Stefani Nearly Fumbles Another TV Appearance: Video
More From Lieberman
- Now That He's At Carmike, Can Bud Mayo Lead Theaters' Alternative Content Revolution?
- Cable Milestone: Operators Have More Broadband Subs Than TV Ones
- Look Out Gannett: Carl Icahn Buys 6.6% Stake
- Warren Buffett Sends A Mixed Message To John Malone As He Buys Into Charter But Unloads Starz
- Citing “Insulting” Criticism, Comcast And Time Warner Cable Withdraw Funding For Dinner Honoring FCC Commissioner
- Televisa Partners With MiTu To Develop Spanish-Language Digital Content