Granada was trading up 5.9% to 144.5p and ITV Digital partner Carlton also benefited, but only to the tune of a 1.3% increase. Its rise was halted after its senior debt rating was cut by three levels to BAA2 by ratings agency Moody's Investor Services. It was trading at 235p this afternoon. BSkyB's shares were up 2.8% at 840.5p.
FTSE 100-listed Pearson, owner of the Financial Times and the news service Reuters, were both showing gains this afternoon. Pearson was up 3.1% to 857.5p, and Reuters was up 2.5% at 769p.
On the advertising side of the media industry, WPP Group, which announced another acquisition today, saw its share price leap by 5% to trade at 695p.
It was not, however, all good news for media stocks. Among the biggest fallers was Capital Radio, trading down 4.9% as Credit Lyonnais downgraded its shares to a "reduce". Its shares were priced at 782.5p this afternoon.
Cordiant Communications, owner of Bates and part of the Zenith Media media-buying powerhouse, also fell by 4.9%, trading at 107.5p.
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