Don't Look Now But Big Media May Be Rallying



Admittedly, the U.S. media giants are coming from bargain-basement prices, but the past month has been good to them. In fact, they are all outperforming the S&P 500 over the same period.

CBS has been the big mover, but Discovery is rapidly becoming a force with which to be reckoned, even saying ths week that it had seen an uptick, albeit just 2.1%, in ad revenue.

Jon Friedman of MarketWatch lays out the performance:

The profit from U.S. networks jumped 6.6% on a 5.2% revenue gain, pushed by higher subscription fees and advertising revenue. Ratings helped fuel the ad progress. The flagship network Discovery Channel averaged approximately 360,000 viewers a minute between the ages of 25 and 54 in the three-month period, a 5.6% gain from the previous year. In addition, Animal Planet registered 13% growth.

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