AMC, Discovery, Scripps Drive Strong Quarter in Media

Bloomberg: AMC Networks, Discovery Communications and Scripps Networks Interactive surpassed Wall Street earnings estimates in the first quarter, boosting investor confidence in the TV industry’s ability to adapt to sweeping changes facing the business. Shares of all three rose Thursday, clawing back some of the losses from last year and early 2016, when companies led by Disney began warning of slower profit growth because their pay-TV networks were losing subscribers to online services and the industry’s cheaper skinny bundles.