moody's CBS Moonves

Not surprisingly, Cablefax’s weekly breakdown of percentage gains and losses among media and telecom stocks found Cablevision to be one of the biggest winners last week, on the heels of Thursday’s announcement that European telecom Altice has agreed to buy the MSO for $17.7 billion. It closed at the end of the week at $33.13 a share, a 19.17% increase over last week. Also benefitting from M&A was Media General and Gray Television. The former acquired Meredith Corp. for $2.4 billion on September 10, making it the owner of 88 stations, while Gray Television expanded its footprint to 49 markets after buying TV and radio station holding company Schurz Communications. Gray topped the stock chart closing at $13.74 a share and a 23.23% increase over the week. Media General finished out the week at $11.72 a share, up 14.68%.

Sprint Nextel was a loser last week, closing at $4.48 a share, at an 8.2% decrease, after Moody’s downgraded Sprint’s debt to below investment grade mid-week. Other companies suffering losses include WWE ($18.21 a share, down 8.12%) and Frontier Communications ($4.99 a share, a 6.2% decrease). Below is a look at the winners and losers.

Winners

1. GRAY TELEVISION:…………………………………..$13.74 (close)….. 23.23% (1 wk change)
2. CABLEVISION:…………………………………………………….33.13……… 19.17%
3. MEDIA GENERAL:……………………………………………….. 11.72……… 14.68%
4. VONAGE:………………………………………………………………6.26……… 12.79%
5. NEXSTAR:……………………………………………………………47.72……….11.63%

Losers

1. SPRINT NEXTEL:…………………………………………………..4.48………..(8.2%)
2. WWE:………………………………………………………………….18.21………(8.12%)
3. FRONTIER COMMUNICATIONS :…………………………….4.99………..(6.2%)
4. TIVO:…………………………………………………………………….8.76………(4.89%)
5. HARMONIC:…………………………………………………………..5.87………(3.93%)

The Daily

Subscribe

Is There a Need for Speed for Remote Learning?

As the FCC rushes to establish the Emergency Connectivity Fund to reimburse schools and libraries for internet , what sort of broadband speed is needed?

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Jobs

Seeking an INDUSTRY JOB? VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.