Media Stocks Rise, Recover Despite Pay TV Concerns

Media stocks grew somewhat, despite concerns over future pay TV distribution disruptions the week before and rumblings in the broader stock market over confrontations between the U.S. and North Korea.

Mid-day Monday trading saw big pay TV providers gaining, withComcast up 1.8% to $41.85; Charter Communications, 1.9% higher to $401.95; and Dish Network, 1.7% higher to $59.40.

Major TV-entertainment content producers rose more modestly, with CBS inching up 0.2% to $66.84, 21st Century Fox, 0.6% higher to $28.37, Walt Disney adding 0.6% to $102.60, and Viacom gaining 1% to $30.95.

TV station groups offered more of a mixed picture: Tribune Media was flat at $40.45, while Tegna was up 0.6% to $13.10; Sinclair Broadcast Group inched 0.3% more to $31.45; and Nexstar Media Group posted the best results for the group -- 1.2% higher to $64.90.

Big digital media stocks -- known as FANG stocks -- had Facebook up 1.5% to $170.64; Amazon up 1.6% to $983.59; Netflix down 0.2% to $171.00; and Google (Alphabet) adding 0.9% to $983.09.

The Dow Jones U.S. Broadcasting & Entertainment Index grew 1% to 1,330.72 with the broader Dow Industrials Index improving 0.7% to 22,007.



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