Weekly Media Stocks Roundup: Possible Playboy Purchase, Gannett Gunned Down
It was a big week of falling prices for media stocks this week as second-quarter earnings reports began flooding the stock market. Over the past five days, the S&P 500 lost 1.2% 1065, and media stocks took an even harder tumble.
One exception: The biggest event of the week in terms of price action took place at Playboy Enterprises, whose shares skyrocketed 36% to $5.37 as Playboy founder Hugh Hefner and Penthouse publisher and FriendFinder Networks CEO Marc Bell entered into a bidding war over the company.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in