Media stocks with revenues from advertising rather than subscription will have more attractive valua...
Media stocks with revenues from advertising rather than subscription will have more attractive valuations within three months, according to Aled Smith, director of global equities at M&G. Up until the disaster on 11 September 2001, Smith had begun to invest more in advertising media stocks such as AOL and was moving away from the more defensive subscription-based companies. But since the crisis in the US, he says everything has changed and there is no visibility at the moment. In line with markets as a whole, most of the media sector has fallen in the past few weeks, Michael Maugh...
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