Media, Entertainment Stocks Soar In 2013
stocks witnessed a strong year with many broadly held companies easily outperforming the market overall. Media and entertainment stocks climbed 46% year-over-year on average,
according to Dow Jones U.S. Broadcasting and Entertainment Index as of December 27th. The index sat at 990.51 nearing the close of 2013.
comparison, the Standard & Poors 500 Index climbed at 29% and Dow Jones Industrials is up 26%. CBS’ stock was at a $63.70 midday on Monday December 30 -- 74% higher from
its $36.69 52-week low, set about a year ago. Similarly, Viacom’s stock is now up 65% at a $87.33, up from its low of $53.09 in 2013.
Comcast stock climbed 43% to $51.76 in midday trading on the last day of 2013 compared with its $36.30 also set nearly a year ago.
Walt Disney is at $76.06 -- up 56% compared with its 52 week low of $48.80. Time Warner witnessed a 49% rise to $69.62 as of midday December 30 from a low of $46.73.
21st Century Fox was at $35.05 in midday trading on the next to last day of the year -- 63% higher than its low of $21.54.
DirecTV was at $68.10 -- up 43% from its $47.71 low, set in late February. Dish Network is at $57.50, up 70% from its $33.79 set in early
TV station merger and acquisitions had a big year -- with a lot of activity and high priced deal-making. One of the biggest TV
station companies, Sinclair Broadcast Group, was heavily involved in deals. It nearly tripled its current stock price to $34.32 -- up from its $12.30 low.
Perhaps the best performing new media stocks has been Netflix, rising to $362.60 currently -- four times its 52-week low of $89.01.
Google nearly doubled its 52-week low -- to $1,112.68 in midday trading on December 30 up from its $695.52 price in late January.