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Media Stocks Caught In Downdraft As Fears Of European Default Grow

By DAVID LIEBERMAN, Executive Editor | Thursday December 8, 2011 @ 3:54pm PSTTags: AOL, Barnes & Noble, Cablevision, CBS, Coinstar, Comcast, Crown Media, DirecTV, Dish Network, Disney, E.W. Scripps, Gannett, Live Nation, Madison Square Garden Co, Martha Stewart Living Omnimedia, McClatchy, News Corp, Redbox, Sirius XM, Sony, The New York Times Company, Time Warner, TiVo, Verizon, Viacom

The trading day ended with a thud. The benchmark Standard & Poor’s 500 wound up -2.1% as word spread that Germany might balk at a proposal to help bail out debt-laden members of the European Union including Greece and Portugal. That affected media stocks; the Dow Jones U.S. Media Index fell 3%. Disney was the hardest hit among the Big Guns, with shares off 3.2%. It was followed by News Corp (-3.1%), CBS (-3%), Comcast (-2.9%), Time Warner (-2.7%), Viacom (-2.3%), and Sony (-2.1%). Newspaper companies were big losers led by McClatchy (-10%), New York Times (-7.3%), E.W. Scripps (-6.5%), and Gannett (-6.3%). But others weren’t far behind: Cablevision (-6.1%) hit a 52-week low. The losers list also included Crown Media (-6.6%), AOL (-5.9%), DirecTV (-4.7%), Live Nation (-4.4%), Barnes & Noble (-4.3%), TiVo (-4.2%), Sirius XM (-4.2%) and Dish Network (-4.2%). Today’s few gainers were led by Coinstar, up 7.8% on a report that its Redbox unit will team up with Verizon to offer an online video service. Martha Stewart Living Omnimedia was up 1.7% the day after J.C. Penney said it bought 16.6% of the company. And Madison Square Garden was up 1.7%, hitting a 52-week high, after Morgan Stanley’s Benjamin Swinburne changed his recommendation to “overweight” from “underweight” following the resolution of the NBA lockout.

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Media Stocks Hit By Market Fears Of Impasse Over U.S. Debt Cuts

By DAVID LIEBERMAN, Executive Editor | Monday November 21, 2011 @ 12:50pm PSTTags: Barnes & Noble, CBS, Cinedigm, Comcast, Crown Media, Dish Network, Disney, E.W. Scripps, Entercom, LIN TV, Live Nation, McClatchy, McGraw-Hill, National CineMedia, Netflix, Radio One, RealD, Sirius XM, Sony, Time Warner, Viacom, Westwood One

The federal government will have to slash $1.2T in spending, mostly beginning in 2013, if the 12-member congressional Super Committee can’t strike a deficit reduction deal soon. They still appear split — even though, as a practical matter, … Read More »

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Media Stocks -5.4% As Fresh Data Suggest The Economy Continues To Weaken

By DAVID LIEBERMAN, Executive Editor | Thursday August 18, 2011 @ 12:13pm PDTTags: Amazon, Cablevision, CBS, Cinedigm, Coinstar, Comcast, Discovery Communications, Disney, Entercom, Gannett, IMAX, LIN TV, Lionsgate, Live Nation Entertainment, McClatchy, McGraw-Hill, Netflix, News Corp, Pandora Media, Radio One, Scripps Networks Interactive, Sinclair Broadcasting, Sony, Stock Market, Time Warner, TiVo, Viacom, Washington Post

The bears are back. After a relatively calm week, stocks prices across the board — including in media — are tanking today following reports that point to rising unemployment and inflation, and weakness in manufacturing. An hour before … Read More »

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UPDATE: Media Stocks End Day -7.3% As Markets Grapple With S&P’s Debt Downgrade

By DAVID LIEBERMAN, Executive Editor | Monday August 8, 2011 @ 11:22am PDTTags: AMC Networks, Barnes & Noble, Cablevision, CBS, Coinstar, Comcast, Dow Jones, DreamWorks Animation, Entercom, Liberty Media, LIN TV, McClatchy, McGraw-Hill, News Corp, Pandora Media, Rovi, Sinclair Broadcasting, Sirius XM, Sony, Time Warner, TiVo, Viacom, Westwood One

UPDATE, 2 PM: The market deteriorated as the day wore on, continuing the worst market slump since 2008. The Dow Jones U.S. Broadcasting and Entertainment Index closed down 7.3% — exceeding the 5.6% decline in the Dow Jones Industrial Average, 6.7% drop in the Standard & Poor’s 500, and 6.9% fall at NASDAQ.  CBS’ -10.3% slide made it the leading loser among media’s Big Guns. It was followed by News Corp (-7.7%), Viacom (-7.1%), Comcast (-6.6%), Sony (-6.4%), Disney (-6.1%), and Time Warner (-5.8%).

Double-digit losers include AMC Networks (-12.8%), LIN TV (-12.7%), Sirius XM (-12.7%), RealD (-12.6%), Cumulus Media (-11.9%), TiVo (-11.4%), Entercom (-10.9%), Westwood One (-10.8%), and E.W. Scripps (-10.3%). Those losing at least 9% include National CineMedia, Dish Network, Arbitron, Sinclair Broadcasting, Rovi, Outdoor Channel, Crown Media, Electronic Arts, Cablevision, and Coinstar. Read More »

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