The Telecompaper Stock Index global Media was down 0.7 percent in week 32, just behind the S&P 500 (-0.5%). There were some major share price movements, mostly induced by quarterly results but also by takeovers. ComScore (-38%), The New York Times (-20%) and EW Scripps (-13%) were the weakest stocks, while Stingray (+15%) and IAC (+7.5%) were the winners. ComScore is down a shocking 86 percent year-to-date and is exploring its strategic options. Snap still leads, up 208 percent year-to-date..
Broadcasting
In the broadcast segment, CBS (-3.0% in week 32) was able to renew deals with both Nexstar (-1.3%), as an affiliate, and with AT&T (+1.1%), for retransmission. CBS's designated merger partner Viacom (+0.8%) scored a major content acquisition with Paw Inc for the Garfield animated series. With Univision possibly coming up for sale, Viacom may have an appetite for more. Fox Corp (-3.4%) made two acquisitions, one for the listed Credible Labs (a majority stake), and one for the Beto Box production company.
Quarterly results in the broadcast segment came in from CBS and Viacom, EW Scripps (-13%) and Stingray (+15%), AT&T and ProSieben (-2.7%).
Publishing
In the publishing segment, GateHouse Media finally acquired Gannett (-9.3%) to create the largest newspaper publisher in the US. The New York Times Co (-20%) reported disappointing results, and KKR reached its minimum acceptance level of 20 percent of the shares of Axel Springer (+0.1%), which has a free float of around 40 percent.
Internet
In other news, Vivendi (+3.5%) was nearing a deal for Tencent to buy a 10 percent stake (with an option for 10% more) in Vivendi's Universal Music Group. IAC/InterActiveCorp (+7.5%) was considering options to spin off two subsidiaries, Match (which includes the Tinder dating app) and ANGI Homeservices, a listed company in which it holds a majority stake.
Snap (-0.3%) was raising USD 1.1 billion in convertible debt for investments. The share is up 208 percent year-to-date. Walt Disney (-2.3%) announced plans for bundling its upcoming Disney+ streaming service with Hulu and ESPN+ at a discount.
Advertising
WPP (+4.7%) reported its quarterly results. ComScore (-38%) announced that it is exploring all strategic optiions. The latter share is down 86 percent year to date.
