NEW YORK (TheStreet) -- Under the radar screen of many money managers and individual investors is a quiet, steady rally among the big media companies.
This is going on while the overall stock market has been struggling and on most days falling on its face. Thursday was an anomaly for the stock market, but the media stocks keep moving higher.
Walt Disney (DIS) moved nicely higher (up 2.9%) on average volume Thursday. DIS is pennies away from its 52-week high.
News Corp (NWSA) also had a better-than-usual Thursday, up 2.47% on the day on below-average volume.A Saratoga, Calif.-based start-up company named Roku announced it raised $45 million recently from News Corporation and BSkyB. It supposedly gives News Corp a leg up in the TV video-steaming business over competitors like Comcast (CMCSA) . "With the News Corporation and Sky strategic relationships, we are poised to further grow our leadership position and to become the TV distribution platform of the future," said Roku founder Anthony Wood in a recent statement. News Corp is buying into the Internet video-streaming set-top box manufacturer and putting one of its senior executives on Roku's board of directors, according to the statement. News Corp is putting its money and powerful influence where it can gain a much greater role in distributing video over the worldwide Web. Make no mistake, Comcast will need to find its own advantageous solution, and historically it has been on track to match any competitor. As of Dec. 31, Comcast serves 22.3 million video customers, 18.1 million high-speed Internet customers and 9.3 million voice customers in 39 states and the District of Columbia. I happen to be one of those customers, and from a customer-service perspective the company is very good. Its Cable Networks segment consists of national cable entertainment, national cable news and information, national cable sports, regional sports and news, and international cable networks; and a cable television production studio and digital media properties. The company's Broadcast Television segment includes the NBC and Telemundo broadcast networks. NBC and Telemundo own local television stations, broadcast television production operations and related digital media properties, which primarily include brand-aligned Web sites.
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