The AOL/Time Warner deal has done much to enhance the value of media stocks. In its latest report on the sector, Merrill Lynch, suggests investors can still find excellent value among these stocks.

In the Irish market, the brokers are recommending Independent News & Media as a buy. It has upgraded the group's earning's potential for 1999 and 2000 with much of the momentum expected to be underpinned by continuing strong growth in the Irish and Australian economy. Other media stocks with a buy recommendation include Aegis, EMAP, Pearson, Reuters, and Saatchi & Saatchi.