3 Incredibly Cheap Media Stocks

Sometimes investors get so excited about one industry that they completely ignore others, which can lead to valuations getting too low for good businesses. A case in point is Wall Street's love affair with digital media, which has left traditional media stocks in the bargain bin.

AMC Networks (NASDAQ: AMCX) has a long track record of producing hit TV shows, which has created one of the top brands in media. Tegna (NYSE: TGNA) and Gray Television (NYSE: GTN) operate local TV stations in top markets around the country, which allows both companies to rake in loads of ad dollars during even-year elections, in addition to sports events like the Olympics. 

All three companies are very profitable and are investing for the future, and you can buy these stocks for a song. If your brokerage account is heavy on high-P/E growth stocks, adding a few of these media stocks might be a good way to create some balance.

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Source Fool.com