Big Media and entertainment companies saw a spike in their stock prices due to investor bullishness ahead of the third-quarter earnings and holiday-shopping seasons.

Among the key gainers were Time Warner Inc., whose shares hit a four-year high, Walt Disney Co. and cable operator Charter Communications. Clear Channel Communications Inc. gained nearly 10 percent on news that a group of private-equity firms were in advanced talks to buy the radio giant.

Media giants running with bulls on Wall Street [Reuters]