Media Stocks Gain As Market Bounces Back - Multichannel

Media Stocks Gain As Market Bounces Back

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The stock market bounced back after three days of declines, and media stocks went along for the ride.

With the markets hearing some hopeful news about European debt, the Dow Jones Industrial Average rose 275.56 points Wednesday to close at 11,414.86, a 2.47% increase.

Crown Media, parent of Hallmark Channels, jumped 12.93% on Thursday, with its stock finishing at $1.31 a share after spiking as high as $1.37. Trading at a relatively low price, Crown shares tend to be volatile when the market makes big moves.

Among other companies in the TV business, the biggest gainers were CBS, which gained 3.54% to finish at $23.66 a share; AMC Networks, up 3.35% to $33.97; Comcast, advancing 3.28% to $21.39 and Cablevision Systems, ahead 3.20% to $17.10.

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