ADVERTISEMENT

Takeover Targets From Discovery to AMC Having Best Week in Years

Takeover Targets From Discovery to AMC Having Best Week in Years

(Bloomberg) -- Thanks to AT&T and Time Warner, media stocks are having their best week in three years. The biggest winners? Takeover targets from Discovery, Inc., to Lions Gate Entertainment Corp.

The S&P 500 Media Index is up as much as 6.2 percent intraday for the week, the most since 2015. Discovery and Lions Gate are gaining more than 5 percent, while other takeover targets -- like AMC Networks Inc. -- are pacing smaller gains, as much as 2.2 percent intraday.

AMC has grown its production arm and has garnered a leading position with key demographic groups through modest acquisition. That bode well for a company like Amazon, according to a report by Seeking Alpha.

MSG Networks Inc.’s another attractive target, with its pure-play sports content covering the New York Knicks and New York Rangers giving it an upper-hand in the days of cord-cutting. Shares are up as much as 8.8 percent, the most in almost three years.

Takeover Targets From Discovery to AMC Having Best Week in Years

To contact the reporter on this story: Kamaron Leach in New York at kleach6@bloomberg.net

To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Christiana Sciaudone

©2018 Bloomberg L.P.