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2005: Tough year for TV stocks
It appears that the best way for a TV company to boost its stock in 2005 was to sell itself. Of the 35 stocks that TVBR reports on daily, only five showed growth last year and three of those were driven by transactions in which they were the seller. Jefferson-Pilot announced a deal to be acquired by another insurance company, Lincoln National, with its radio and TV stations included. Liberty Corporation has a deal pending to sell the entire company to Raycom for nearly a billion bucks. And Emmis Communications rose because it spent much of the year selling off its TV assets, with a couple of deals yet to be announced, choosing to focus on the radio business. The year's biggest winner was McGraw-Hill, driven by its educational and financial data businesses, rather than its small TV station group. So, of the five gainers, the only one to move up on the strength of its broadcast performance was Univision - - and it rose only 0.4% for the year. At the other end of the scale, Young Broadcasting plunged 75.4% and became a penny stock as a year of poor advertising demand was particularly poor in San Francisco, home to its largest station, KRON-TV. Spanish Broadcasting System dropped 51.6% as investors punished the radio company severely for announcing plans to enter TV as well. Read 'em and weep.
2005 TV stock performance
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Television
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12/31/04
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12/30/05
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2005
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2005
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Company
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Close
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Close
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Net Chg
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Pct Chg
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McGraw-Hill
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45.77
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51.63
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5.86
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12.80%
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Jefferson-Pilot
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51.96
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56.93
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4.97
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9.57%
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Liberty Corp.
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43.96
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46.81
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2.85
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6.48%
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Emmis
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19.19
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19.91
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0.72
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3.75%
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Univision
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29.27
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29.39
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0.12
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0.41%
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Sinclair
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9.21
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9.20
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-0.01
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-0.11%
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Scripps
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48.28
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48.02
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-0.26
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-0.54%
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Meredith
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54.20
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52.34
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-1.86
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-3.43%
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General Elec.
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36.50
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35.05
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-1.45
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-3.97%
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Clear Channel
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33.49
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31.45
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-2.04
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-6.09%
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Hearst-Argyle
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26.38
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23.85
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-2.53
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-9.59%
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Time Warner
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19.45
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17.44
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-2.01
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-10.33%
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Viacom, Cl. B
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36.39
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32.60
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-3.79
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-10.41%
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Viacom, Cl. A
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37.08
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32.76
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-4.32
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-11.65%
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News Corp.
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19.20
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16.61
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-2.59
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-13.49%
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Disney
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27.80
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23.97
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-3.83
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-13.78%
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Fisher
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48.88
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41.43
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-7.45
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-15.24%
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Entravision
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8.53
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7.12
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-1.41
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-16.53%
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Belo
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26.24
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21.41
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-4.83
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-18.41%
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Media General
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64.81
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50.70
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-14.11
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-21.77%
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Wash. Post
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983.02
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765.00
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-218.02
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-22.18%
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Journal
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18.07
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13.95
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-4.12
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-22.80%
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Gannett
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81.70
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60.57
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-21.13
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-25.86%
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Tribune
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42.14
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30.26
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-11.88
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-28.19%
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Paxson
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1.38
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0.90
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-0.48
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-34.78%
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New York Times
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40.80
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26.45
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-14.35
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-35.17%
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Saga
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16.85
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10.87
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-5.98
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-35.49%
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Gray, Cl. A
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14.15
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9.05
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-5.10
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-36.04%
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Gray (common)
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15.50
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9.82
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-5.68
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-36.65%
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LIN Television
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19.10
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11.14
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-7.96
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-41.68%
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Nexstar
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9.22
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5.01
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-4.21
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-45.66%
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Granite
|
0.41
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0.21
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-0.20
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-48.78%
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ACME
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7.01
|
3.55
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-3.46
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-49.36%
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SBS
|
10.56
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5.11
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-5.45
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-51.61%
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Young
|
10.56
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2.60
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-7.96
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-75.38%
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