Media stocks offer good value and performance

Following continued underperformance over the year to date, certain areas within the media sector are starting to offer some value, although volatility remains. The FTSE media and photography index has fallen 24.49% over the 12 months to the end of April, compared to a return of 4.43% in the FTSE All Share. David McGillveray, fund manager at Invesco, says the media sector has been hard to play of late but the beating stocks have taken is starting to bring some value to a still volatile market. He says: "Media companies have been trashed over the past three months, irrespective of what a...