Closing Glance: Media companies' shares mostly up

By Associated Press May 12, 2008 Comments (0)

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Shares of major media companies rose with the broader market on Monday as the dollar advanced, easing some concerns about inflation.

In media news on Monday, Cablevision Systems said it is buying Long Island, N.Y., newspaper Newsday from Tribune Co. in a deal valued at $650 million. Cablevision topped a $580 million bid from media mogul Rupert Murdoch of News Corp., as well as a matching bid from New York Daily News owner Mortimer Zuckerman. News Corp. shares rose 22 cents to $19.57.

Where shares of some major media companies closed on Monday:

Gannett Co., up 73 cents, or 2.5 percent, to $30.07.

Time Warner Inc., up 13 cents to $16.04.

Walt Disney Co., up 47 cents to $34.77.

Bucking the trend, New York Times Co. shares fell 10 cents to $19.57.

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DocumentId: 643105, ~/articles/articlehandler.aspx, 7/9/2008 12:08:07 PM, No ticker

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