Is Old Media Finally a Buy? (PBS, CBS, CMCSA, TWX, NWSA)

There is one ETF which many investors have forgotten about (or never wanted to know about)… The PowerShares Dynamic Media (NYSE: PBS) shares aims to track the Dynamic Media Intellidex(SM) Index which is composed of stocks of 30 U.S. media companies.  This fund normally invests at least 80% of its assets in common stocks of media companies and 90% of the assets are invested in common stocks that comprise the underlying index.

Is media finally a “BUY”??? Zacks Investment Research says it is.  Some notes as follows: Many traditional media companies have been hard hit over the past few years and consumer trends impacted many firms in the space.  Those trends even led to continued losses in the period after the low point in the Great Recession.

Recent performance suggests that things might finally be looking up for the media sector and that brighter days could be ahead: many of the segments in this sector receive high Zacks Industry Ranks and could be poised to outperform peers in the short-term. As of Monday, Media Conglomerates were said to be rated among the top 10% of all Zacks Industries, while Cable TV is currently just outside the top 10% and the Internet Content Industry occupies a space in top third…

At $14.38, the 52-week range is $11.00 to $15.77.  The fund’s largest holdings are CBS Corporation (NYSE: CBS), Comcast Corporation (NASDAQ: CMCSA), Time Warner Inc. (NYSE: TWX), and News Corporation (NASDAQ: NWSA).