News Articles

TV Stocks Tumble as Market Plunges

Concerns over Fed, China cast economic cloud 6/20/2013 04:53:45 PM Eastern

Media company stocks fell sharply as the stock market
reacted to concerns over moves by the Federal Reserve Board and the Chinese
economy.

The Dow Jones Industrial Average closed down 2.34% at 14,758
Thursday, a 353.87-point decline, and many companies in the TV business
recorded even bigger drops.

Comcast dropped 3.23% to $38.91 a share and CBS slid 4% to
$46.93.

Time Warner, Discovery Communications, Cablevision Systems,
Crown Media, Viacom, Disney, Scripps Networks and Time Warner Cable all fell
between 2% and 3% in the selloff.

Also
dropping was high-flying Netflix, which dropped 3.78% to $223.50.

 

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