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Plunging Market Hits TV Companies

Sep 18, 2008  •  Post A Comment

Many broadcast and cable media companies are feeling the effects of the trouble on Wall Street with many experiencing a stock drop on par with the overall markets and some getting hit harder. Disney closed on Wednesday with only a 1% drop for the day, while General Electric shares fell 6.7% in value and CBS fell almost 6%, Broadcasting and Cable reports. Among pay TV operators, Time Warner felt a 6.8% drop for the day while shares of Dish Network and DirecTV Group dropped 5.6% of the respective share worth, Multichannel News says.
—Sergio Ibarra

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