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2005: A year best forgotten
If you made money on TV stocks in 2005, you must be one heck of a stock picker. Only five of the 35 stocks that TVBR tracks daily were up for the year. Mostly those were companies on the sell side of M&A activity: Jefferson-Pilot, Liberty Corp. and Emmis. Meanwhile, Clear Channel spent the year reinventing itself. First there was Less is More, which cut radio inventories and revenues, then the decision to IPO 10% of CC Outdoor and completely divest CC Entertainment (now Live Nation) to shareholders. So, how did it all play out with investors? Not too badly. CCU's stock was down only 6.1%. And if you subtract the 12/30 value of Live Nation (1 share for each 8 of CCU), that 2.04 decline is cut to less than 41 cents, or a drop of only 1.2% for the year. Univision rose 0.4% as it continued to dominate the Spanish media marketplace, but other Spanish broadcasters didn't fare so well. All in all, we're sure most CEOs of public TV companies would like to forget about 2005.
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
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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
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3.55
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-3.46
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-49.36%
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SBS
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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
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10.56
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2.60
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-7.96
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-75.38%
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