Media Stocks Recover Amid Good News in Ad Market

CNBC: Big media stocks were pummeled last week amid an overall market downturn. But Tuesday, many media shares were outperforming the market: CBS up almost 4 percent, Fox was up 3.8 percent, and Viacom rebounded from last week’s losses, up 6.5 percent. While stocks were dragged down by concerns about the weakening TV bundle hurting subscriber fees, those fears may now be lessened as investors realize that there’s plenty of good news in the advertising market.