Sector1,546

Media

Meta Platforms, Inc.
1.6T
BCE Inc.
28.5B
Netflix Inc
260.4B
Dolby Laboratories, Inc.
6.1B
AT&T Inc.
147B
Electronic Arts Inc.
52.9B
Paramount Global
Liberty Media Corp
21.9B
Entravision Communications Corp
829.7M
Comcast Corp
86.6B
Walt Disney Co
201.6B
Trade Desk, Inc.
6.1B
Yelp Inc
1.1B
Starz Entertainment Corp /CN/
425.3M
Cogeco Communications Inc.
2.2B
Light & Wonder, Inc.
6B
Shenandoah Telecommunications Co/VA/
534.3M
Vonage Holdings Corp
Applovin Corp
119.2B
Roku, Inc
23.9B
Verizon Communications Inc
191.1B
John Wiley & Sons, Inc.
Liberty Global Ltd.
4.3B
Twitter, Inc.
News Corp
15.5B
Lamar Advertising Co/new
15.8B
Warner Bros. Discovery, Inc.
77.6B
E.W. SCRIPPS Co
250.2M
DraftKings Inc.
11.7B
Imax Corp
2.6B
Hasbro, Inc.
16.6B
Omnicom Group Inc.
24.8B
Telephone & Data Systems Inc /DE/
3.8B
Sirius XM Holdings Inc.
10.9B
Avid Technology, Inc.
Nexstar Media Group, Inc.
5.9B
GLU Mobile Inc
Zynga Inc
Scholastic Corp
684.8M
Charter Communications, Inc. /MO/
15.3B
DISH Network Corp
Cardlytics, Inc.
11.5M
Pinterest, Inc.
11.3B
Cogeco Inc
432.5M
IAC/InterActiveCorp
Comscore, Inc.
50M
Ziff Davis, Inc.
1.7B
Stride, Inc.
3.2B
Sinclair Broadcast Group Inc
Quebecor Inc.
17.2B

Media and communication groups: insider trades in a sector of deals

No sector-specific evidence

We could not verify any academic study of insider trading in media, advertising or publishing stocks. The sector has features worth knowing before reading the filings, and the general research offers some guidance.

Deals and control

Broadcasters, publishers and advertising groups regularly go through mergers, disposals and changes of control, and several are held by families or industrial shareholders. Fidrmuc, Goergen and Renneboog (2006, Journal of Finance) find, in UK data, that directors' trades made after news on mergers and acquisitions or a CEO replacement carry significantly less information, because the market already knows the event. Trades by a controlling shareholder during a contest for control can answer to control as much as to valuation.

Purchases versus sales

Across all sectors, purchases carry more information than sales (Lakonishok and Lee, 2001; Jeng, Metrick and Zeckhauser, 2003). Sales linked to share-based pay, common across listed companies, add volume to the filings without adding information. The method used on this site is described on the methodology page.