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Our Outlook for the Media Sector

Newspapers struggle, but online ad revenue is a bright spot.

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The stock for the average media company currently looks slightly overvalued. The only industry that is trading below our estimate of its fair value as of March 15 is the media-conglomerates industry. Here,  Disney (DIS) and  Time Warner (TWX), whose economic moat ratings we've recently upgraded, look particularly cheap. But some of the more interesting developments in the media sector, both good and bad, are from the newspaper-publishing industry.  

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James Walden does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.