AT&T-Time Warner ruling gives a green light to media companies to consolidate

The ruling, which came just after the market closed, boosted most media stocks. Fox shares, which closed Tuesday at $40.54, jumped 7% in after-hours trading. CBS shares, which closed at $52.38, jumped 5% after markets closed. Comcast shares closed at $32.38 and dropped nearly 3% in after-hours trading. Disney shares, which ended the regular session up at $104.33, dropped about 1.5% on Tuesday evening.