Media Stocks Continue To Make Back Gains From Earlier Week Losses

Media stocks -- like the stock market overall -- continued to add back the gains they had lost over the course of a tumultuous week.

On Thursday, the S&P 500 Media index gained 2.3% to 550.93. Last Friday it closed at a midday index of 554. On Monday, it sank at one point to 515 -- a drop of around 7%.

Many pay TV providers witnessed gains on Thursday: Comcast grew 2.5% to $56.77; Cablevision Systems was up 3.3% to $24.06; and Charter Communications was 2.3% higher to $181.65.

AMC Networks was a major media gainer on Thursday, adding on 4.4% to $72.79. Other media companies also saw gains: CBS was up 2% at the close on Friday to $45.26; Walt Disney grew 3% to $102.17; Time Warner upped to 2% to $72.82; Discovery Communications added 1.5% to $26.91; and Scripps Networks Interactive gained 1.7% to $52.67.

Dish Network climbed 1% to $59.11 and Sinclair Broadcast Group inched up 0.8% to $25.81. The two companies were involved in a potential TV station blackout, which resolved itself on Wednesday with an agreement in principal.

Netflix led all digital media players -- closing up a strong 7% higher to $117.66. Netflix was up 37% from Monday’s lows. Facebook grew 2.9% to $89.73, and Google inched up 1.3% to $667.96.

Next story loading loading..