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TV takes the downslope of the Street
If you thought radio stocks were having a rough year, perhaps you can take solace in the old saw that misery loves company. Just look over the hedge at your friends on the TV side (some of you, of course, need look no further than your own portfolio). TV stocks continued to be in the Wall Street dog house in Q2 as they were in Q1. A couple of the big names moved up. With new CEO Bob Iger being applauded so far by investors, Disney increased its Q1 gain of 16.35% to a year-to-date gain of 25.16 at the halfway mark. News Corporation made an even bigger move, advancing to a 21.49% gain YTD from only 5.72% in Q1. But the big winner for 2006 is ACME, which pulled itself out of penny stock territory and improved its Q1 gain of 16.62% to 43.10% as it lined up new CW affiliations (and one MyNetworkTV) for its portfolio of stations. Two of the pure play TV stocks have been really beaten up this year. LIN is down 32.23%, despite analysts' praise for its recent move to de-lever by selling its Puerto Rico operations. Gray Television's common stock has fallen 41.04% even after spinning off its newspaper assets - and its Class A stock isn't far behind. So, once again our chart shows mostly poor performance on Wall Street by the TV stocks.
Television stock performance year to date 2006
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Television
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12/31/04
|
6/30/06
|
2006
|
2006
|
|
Company
|
Close
|
Close
|
Net Chg
|
Pct Chg
|
|
ACME
|
3.55
|
5.08
|
1.53
|
43.10%
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Disney
|
23.97
|
30.00
|
6.03
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25.16%
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News Corp.
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16.61
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20.18
|
3.57
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21.49%
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Young
|
2.60
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3.14
|
0.54
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20.77%
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Entravision
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7.12
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8.57
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1.45
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20.37%
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Univision
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29.39
|
33.50
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4.11
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13.98%
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Lincoln National
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52.31
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56.44
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4.13
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7.90%
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Tribune
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30.26
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32.43
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2.17
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7.17%
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CBS Cl. A
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25.40
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27.05
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1.65
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6.50%
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|
CBS Cl. B
|
25.50
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27.06
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1.56
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6.12%
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Ion Media
|
0.90
|
0.92
|
0.02
|
2.22%
|
|
Wash. Post
|
765.00
|
780.01
|
15.01
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1.96%
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|
Fisher
|
41.43
|
42.13
|
0.70
|
1.69%
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|
SBS
|
5.11
|
5.11
|
0.00
|
0.00%
|
|
Time Warner
|
17.44
|
17.30
|
-0.14
|
-0.80%
|
|
Clear Channel
|
31.45
|
30.95
|
-0.50
|
-1.59%
|
|
McGraw-Hill
|
51.63
|
50.23
|
-1.40
|
-2.71%
|
|
Nexstar
|
5.01
|
4.80
|
-0.21
|
-4.19%
|
|
Meredith
|
52.34
|
49.54
|
-2.80
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-5.35%
|
|
General Elec.
|
35.05
|
32.96
|
-2.09
|
-5.96%
|
|
Sinclair
|
9.20
|
8.56
|
-0.64
|
-6.96%
|
|
New York Times
|
26.45
|
24.54
|
-1.91
|
-7.22%
|
|
Hearst-Argyle
|
23.85
|
22.06
|
-1.79
|
-7.51%
|
|
Gannett
|
60.57
|
55.93
|
-4.64
|
-7.66%
|
|
Scripps
|
48.02
|
43.14
|
-4.88
|
-10.16%
|
|
Saga
|
10.87
|
9.06
|
-1.81
|
-16.65%
|
|
Media General
|
50.70
|
41.89
|
-8.81
|
-17.38%
|
|
Granite
|
0.21
|
0.17
|
-0.04
|
-19.05%
|
|
Journal
|
13.95
|
11.24
|
-2.71
|
-19.43%
|
|
Emmis
|
19.91
|
15.64
|
-4.27
|
-21.45%
|
|
Belo
|
21.41
|
15.60
|
-5.81
|
-27.14%
|
|
LIN Television
|
11.14
|
7.55
|
-3.59
|
-32.23%
|
|
Gray, Cl. A
|
9.05
|
6.11
|
-2.94
|
-32.49%
|
|
Gray (common)
|
9.82
|
5.79
|
-4.03
|
-41.04%
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©2006 Radio Business Report, Inc. All rights reserved.
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