Retrans gave TV stocks a boost
Q1 2007 was a lackluster quarter for the overall stock market, with the major indices right around flat for three months of trading. Television stocks, though, generally outperformed the market. In particular, pure play TV companies did well, as investors saw proof that new revenues are coming by way of cash payments for retransmission consent agreements with cable MSOs. Nexstar, which initially led the retrans fight, battled out of penny stock territory and finished Q1 up nearly 107%. Sinclair, which won the most recent high-profile retrans battles, gained over 47%. Also big gainers in Q1 were other pure plays such as LIN (which also made a big sale to de-lever), Young and Gray. The biggest gainer of all, though a penny stock, was Ion Media, up 166% after receiving a buyout bid from NBC Universal and Citadel LP. Of the 35 TV stocks tracked daily by TVBR, 23 were up in Q1 and 12 were down.
Here are the numbers.
Q1 2007 television stock performance
|
Television
|
12/29/06
|
3/30/07
|
2007
|
2007
|
Company
|
Close
|
Close
|
Net Chg
|
Pct Chg
|
|
Ion Media
|
0.50
|
1.33
|
0.83
|
166.00%
|
|
Nexstar
|
4.65
|
9.61
|
4.96
|
106.67%
|
|
LIN Television
|
9.95
|
15.90
|
5.95
|
59.80%
|
|
Sinclair
|
10.50
|
15.45
|
4.95
|
47.14%
|
|
Young
|
2.82
|
4.02
|
1.20
|
42.55%
|
|
Gray (common)
|
7.33
|
10.42
|
3.09
|
42.16%
|
|
Gray, Cl. A
|
8.22
|
10.45
|
2.23
|
27.13%
|
|
Entravision
|
8.22
|
9.34
|
1.12
|
13.63%
|
|
ACME
|
5.02
|
5.70
|
0.68
|
13.55%
|
|
Fisher
|
44.21
|
48.60
|
4.39
|
9.93%
|
|
News Corp.
|
22.26
|
24.47
|
2.21
|
9.93%
|
|
Hearst-Argyle
|
25.50
|
27.19
|
1.69
|
6.63%
|
|
Tribune
|
30.78
|
32.11
|
1.33
|
4.32%
|
|
Journal
|
12.61
|
13.11
|
0.50
|
3.97%
|
|
Media General
|
37.17
|
38.16
|
0.99
|
2.66%
|
|
Emmis
|
8.24
|
8.44
|
0.20
|
2.43%
|
|
Wash. Post
|
745.60
|
763.50
|
17.90
|
2.40%
|
|
Univision*
|
35.42
|
36.23
|
0.81
|
2.29%
|
|
Lincoln National
|
66.40
|
67.79
|
1.39
|
2.09%
|
|
Meredith
|
56.35
|
57.39
|
1.04
|
1.85%
|
|
Belo
|
18.37
|
18.67
|
0.30
|
1.63%
|
|
Saga
|
9.61
|
9.73
|
0.12
|
1.25%
|
|
Disney
|
34.27
|
34.43
|
0.16
|
0.47%
|
|
Clear Channel
|
35.54
|
35.04
|
-0.50
|
-1.41%
|
|
CBS Cl. B
|
31.18
|
30.59
|
-0.59
|
-1.89%
|
|
CBS Cl. A
|
31.22
|
30.61
|
-0.61
|
-1.95%
|
|
SBS
|
4.11
|
4.00
|
-0.11
|
-2.68%
|
|
New York Times
|
24.36
|
23.51
|
-0.85
|
-3.49%
|
|
General Elec.
|
37.21
|
35.36
|
-1.85
|
-4.97%
|
|
Gannett
|
60.46
|
56.29
|
-4.17
|
-6.90%
|
|
McGraw-Hill
|
68.02
|
62.88
|
-5.14
|
-7.56%
|
|
Time Warner
|
21.78
|
19.72
|
-2.06
|
-9.46%
|
|
Scripps
|
49.94
|
44.68
|
-5.26
|
-10.53%
|
|
Granite
|
0.13
|
0.07
|
-0.06
|
-46.15%
|
|
SWMX
|
2.10
|
0.85
|
-1.25
|
-59.52%
|
*taken private 3/28
©2007 Radio Business Report, Inc. All rights reserved.
