Why LIN TV Shares Jumped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of LIN TV were up as much as 13% today, climbing steadily after the local media provider announced this morning its second acquisition in less than a week.
So what: LIN, which specializes in local multimedia and advertising, said it had gained majority ownership of Dedicated Media, "a leader in multi-channel ad buying and optimization," according to LIN's press release. Management said the acquisition will help maximize the effectiveness of its advertising and add depth to its targeted marketing suite.
Now what:Perhaps proving that boring businesses often make the best investments, LIN shares have been on fire over the past year, gaining more than 300% since the summer. Today's acquisition comes on top of LIN's purchase last week of a majority stake in HYFN, a social media management specialist, showing that the media company has its eye on continued growth. Don't be surprised to see shares keep moving higher from here.
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The article Why LIN TV Shares Jumped originally appeared on Fool.com.Fool contributor Jeremy Bowman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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