The media industry closed the day up 2.4%. Westwood One Inc ( WWON), Dex One ( DEXO), Inuvo Inc ( INUV), and SearchMedia Holdings ( IDI) were all winners today within the media industry with News ( NWSA) being today's featured media winner. News rose 43 cents (2.8%) to $15.97 on light volume. Throughout the day, 23.4 million shares of News exchanged hands as compared to its average daily volume of 41.7 million shares.

News Corporation operates as a diversified media company worldwide. News has a market cap of $27.5 billion and is part of the services sector. The company has a P/E ratio of 13.2, equal to the average media industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 6.7% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates News as a buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins, increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Media General Inc ( MEG), LodgeNet Interactive Corporation ( LNET), Charm Communications Inc ( CHRM), and Peoples Educational Holdings Inc ( PEDH) were all losers within the media industry with Live Nation Entertainment Inc ( LYV) being today's media industry Loser Spotlight stock.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the media industry could consider PowerShares Dynamic Media ( PBS) while those bearish on the media industry could consider ProShares Ultra Sht Consumer Services ( SCC).