Weekly Media Stocks Roundup: Washington Post Leads the Group Higher
Shares in media companies ended the week with solid gains as the broader market continued higher. The S&P 500 marked another week of gains, finishing up 1.4% over the past five days.
Apple’s iPad tablet — a new opportunity for publishers to distribute digital content, often in subscription form — had a strong week, during which at least 450,000 of the mobile devices flew off shelves following their introduction Saturday. Analysts expect sales to clock in at somewhere around a million units by the end of June.
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