CBS’ Les Moonves should be receiving some thank-you notes from his fellow media chief executives this weekend.
Moonves’ comments that advertising spending has turned a corner — he noted “early signs of a recovery” in an earnings call — jolted many media stocks higher yesterday.
CBS was the biggest winner in the run-up, rising as much as 30 percent, before settling up $2.27, or 26 percent, at $10.81.
Viacom Inc. rose 6 percent, News Corp. (which owns The Post) and Walt Disney added 5 percent. Time Warner rose 3.7 percent.
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