U.S. AdMarket employment increased by 11,500 to 1.57 million in February vs. January, tying last June as the best month-on-month gain since 2004 and taking back much of January's loss of 18,100 jobs. Cable TV employment is down 8.8% from its Dec. '01 peak but up 4.8% from a Nov. '03 post-bubble nadir. Cable employed 87,800 in February, vs. broadcast networks' 129,500 jobs. The gap has narrowed; 15 years ago, cable employed 52,200 vs. 113,600 for broadcast.
Focus on: CROWN MEDIA HOLDINGS (CRWN)
Crown Media, owner of Hallmark Channel, in April ditched the idea of selling the company after exploring "strategic alternatives." CEO David Evans said the board decided that operating the company will yield the greatest shareholder value. Crown Media, two-thirds owned by Hallmark Cards, hasn't been a great value so far; it's down 72% from its IPO.
Last week's score
Digitas jumped on strong results while Microsoft tumbled on concerns over rising expenses. Q1 GDP rose 4.8%, best since the end of the recession.