Broadcast Stock Rise Linked to Trump Win, Ryvicker Says
Broadcast stocks rose 19 percent since Donald Trump's White House win due to predictions of relaxed ownership rules and a faster growing economy under the new administration, Wells Fargo analyst Marci Ryvicker emailed investors Wednesday. The lifting or relaxing of…
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the 39 percent of viewers TV ownership cap by the next FCC could trigger “significant” mergers and acquisitions, Ryvicker said, especially from large broadcasters such as Sinclair and Nexstar. Ryvicker said the stock jump also is being caused by “the potential for lower taxes and healthcare costs,” “the potential for the incentive auction to end sooner rather than later now that Chairman [Tom] Wheeler will be leaving by the end of January,” and “the fact that these broadcasters have been much more focused on shoring up their balance sheets in order to return capital to shareholders.” Wheeler hasn't said when he will leave (see 1611170054).