By this point, you know how well Latin broadcaster Televisa has been doing. There are even more tempting plays out there in Eastern Europe. Televisa ( TV , quote ) is a member of the Ambassador's Index for a good reason: The stock is up 30% just since early October. We have already highlighted the opportunity there. But names in Eastern Europe are also doing big business even though they are not yet as hot as TV. Merrill Lynch just put out a note connecting the obvious dots between the booming Russian market and the media stocks in that part of the world. The bank thinks that television advertising money spent from Poland to the Czech Republic, not to mention Russia itself, will climb well above 10% this year as local businesses spend more to grab a bigger piece of the disposable income in these resurgent consumer economies. Russian broadcaster CTCM ( quote ) has experienced just such a surge in ad sales, even though audience share has dropped. The company's performance has been flat and the stock is now trading at a 20% discount to historic enterprise value (EV) metrics. CETV ( quote ) is a way to play a similar story in Eastern Europe, while thinly traded TVNWF ( quote ) may give some daring traders ideas on how to work with the Polish media story in particular.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.