Today's winner from Comcast-NBC Universal talks: Time Warner
Comcast Corp. shareholders aren't too pleased about the cable company's talks to take control of NBC Universal and create a new company, but Time Warner Inc. shareholders sure are.
Time Warner stock is up 5% today, while the overall Nasdaq and Dow Jones indexes are down, as are every other major media stock, including Viacom Inc., News. Corp. and Walt Disney Co.
The reason? Wall Street seems pleased to learn that Time Warner is unlikely to buy NBC Universal. In fact, a source close to Time Warner said the conglomerate is not interested in acquiring all or even a minority stake in NBC Universal.
"The market had put an overhang into the Time Warner stock price because they thought they would buy these assets," said Laura Martin, an analyst at Soleil Media-Metrics.-- Ben Fritz