Media Stocks Take End-of-Week Slide

By
( )
published

The stock market finished the week on a down note that left media companies with bigger losses.

The Dow Jones Industrial Average closed down 172.93 points, or 1.57%, at 10,817.65.

As usual many media companies had bigger losses than the general market.

News Corp. dropped 3.13% to $15.80 as the company continued to get hammered by new developments in its phone hacking scandal.

Viacom finished with a 2.85% decline to $40.91, Time Warner dipped 2.40% to $27.90, Disney was down 2.09% to $31.87, and Scripps Networks Interactive slid 2.51% to $38.84.

AMC Networks managed to post a small gain, rising 0.27% to $33.05.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.