Sony And TV Stations See Biggest Gains Among Media Stocks In Q2

Investors who bet on media should have warm memories from Q2. The Dow Jones U.S. Media Index rose 6.0% in the quarter vs. the Standard and Poor’s 500 which was +2.4%. Sony led the Big Media pack with its share price rising 21.8% in the quarter. It was followed by Disney (+11.2%), Viacom (+10.7%), News Corp (+6.8%), CBS (+4.7%), Time Warner (+0.3%), and Comcast (-0.5%). More broadly in media, TV station owners were among the biggest winners led by Sinclair (+44.8%) and LIN (+39.2%). Others that paid off in the quarter include DreamWorks Animation (+35.3%), Pandora (+29.9%), E.W. Scripps (+29.6%), Live Nation (+25.3%), and Best Buy (+23.4%). While most gained, the sector had a hodgepodge of losers including newspaper publisher McClatchy Co (-21.4%), TiVo (-10.8%), Apple (-10.5%), IMAX (-7.0%), AOL (-5.3%), Cinemark (-5.2%), and Discovery (-1.9%).

This article was printed from