This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Disney Bulks-Up on Social as Gannett Bows to Regulators: Media Roundup

NEW York (TheStreet) -- Disney (DIS - Get Report) extended its 2013 advance in afternoon trading as the world's largest entertianment company said that Twitter  (TWTR - Get Report) Chairman Jack Dorsey was elected to the Burbank, Calif.-based board of directors. Shareholders will have a chance to vote on the appointment at the company's annual meeting in March.

Disney shares gained 1.2% to $73.28 to push the stock's gain for the year to 47% compared to the Standard & Poor's 500 Index  which has added 28% in 2013.

Dorsey, Twitter's co-founder, is slated to replace Judith Estrin, Cisco's (CSCO) former chief technology officer, who had reached Disney's 15-year limit on board service.

Elsewhere, Gannett (GCI) gained 2.9% to $28.61 as the owner of USA Today acceded to regulator demands to sell television stations in Phoenix and St. Louis to Meredith Corp. (MDP), publisher of Better Homes and Gardens, in order to win approval for its acquisition of $2.2 billion acquisition of Dallas-based Belo (BLC). Meredith will pay $407.5 million for KASW in Phoenix and KMOV in St. Louis.

Gannett shares rose 2.9% to close at $28.61 while Meredith jumped 4.8% to finish at $51.16. 

The Department of Justice gave Gannett antitrust approval provided that it agreed sell the St. Louis station acquired in the Belo transaction. Both Gannett and Meredith are expanding their television holdings to offset declines in print advertising at their respective publications. 

--Written by Leon Lazaroff in New York.

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DIS $110.16 0.58%
TWTR $51.66 1.65%
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%


DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs