Tuesday, July 28, 2009

TV, newspaper stocks rise as investors bet on ad rebound

Stocks of U.S. television broadcasters and newspaper publishers rose on Monday, bucking declines elsewhere in the markets, as investors hoped that advertising declines that have battered media stocks might be easing.

Shares of EW Scripps Co, which publishes The Commercial Appeal in Memphis, Tennessee, and owns other daily newspapers and local TV stations, were up 10 percent at $3.81. Dallas-based TV station owner Belo Corp was up 13 percent at $2.92.

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