Media business health check: Biggest news companies recover from Covid

Biggest publicly-traded news companies worth $38bn more now than before pandemic, Press Gazette research finds

Marketwatch Barron's

The US and UK’s largest publicly-listed news companies are worth $38bn more today than they were before the Covid-19 pandemic, Press Gazette research has found.

News Corp, the New York Times, Thomson Reuters, Daily Mail publisher DMGT and Mirror group owner Reach are among the companies to have seen their stock market values increase since the end of 2019.

All 16 of the news and information companies examined for Press Gazette’s research have recovered from the depths of the coronavirus crisis, our findings show.

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In late December 2019, the combined market capitalisations of the 16 was $251bn (£180bn).

In late March, at the peak of Covid-19 concern, their public values had fallen 28% to $180bn (£129bn).

The market caps total recovered to December 2019 levels in November last year, Press Gazette found.

And, as of this week, the 16 companies are worth a combined $289bn (£208bn) – up $109bn (£78bn) from the depths of the Covid, and $38bn (£27bn) since the end of 2019.

The 16 companies we focus on roughly split into three groups: consumer news publishers, news-focused broadcasters and data/information/events companies. Half of the companies are listed in the US, and the other half are on the London Stock Exchange.

As the table above shows, nine out of the 16 companies are worth more now than they were in late 2019, before the effects of coronavirus were known.

Data company TechTarget has grown the most, with its market capitalisation rocketing 174% to $2bn. The next biggest risers were consumer news companies, with News Corp, Reach and the New York Times jumping 79%, 64% and 51% respectively.

The other companies to have grown their market capitalisations over the period are financial data giant S&P Global (37%), information and news company Thomson Reuters (26%), B2B publisher GlobalData (13%), DMGT (8%) and Relx, the information business formerly known as Reed Elsevier (1%).

British B2B publisher Euromoney led the seven fallers (-23%), ahead of local publishing giant Gannett (-21%), UK broadcaster ITV (-19%), events businesses Informa (-17%) and Ascential (-10%), and US broadcast giants ViacomCBS (-9%) and Fox Corporation (-3%).

Overall, the combined market capitalisations of the 16 companies rose 15% between December 2019 and this Tuesday.

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Top photo credit: PETER PARKS/AFP via Getty Images

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Author: William Turvill

William is Press Gazette's North America Editor.

Comments

1 thought on “Biggest publicly-traded news companies worth $38bn more now than before pandemic, Press Gazette research finds”

  1. I was sure ex Archant CEO Jeff Henry declared he would make Archant the best UK media group by 2017 yet I see they’re not on the list?

    Is this an oversight or is it, as those of us in the room when he came out with this laughingly embarrassing proclaimation thought at the time,hyperbole from someone who wasn’t aware of just how bad things were and believed all his underlings told him?

    Let’s hope what he’s been told about his latest publishing investment is more accurate and he doesn’t end up with egg on his face for a thitd time – Mustard TV anyone?

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