Media companies didn’t come out of today’s Wall Street nosedive unscathed, Broadcasting & Cable reports. The worst one-day drop in history brought News Corp.’s shares down from $12.07 to $1.18 per share. Shares for Time Warner Cable and Disney were down 6.3% and 9.2%, respectively. CBS and Viacom also felt the burn with shares dropping 7.14% and 7.8%, respectively.
—Christopher Perez
Media Companies Bruised After Monday Tumble
Sep 29, 2008 • Post A Comment
Um, guys?
News Corp was down BY 1.18, ending at 12.07, NOT down TO 1.18
Losing 80-something percent of its value in one day would make make citadel look like a Blue Chip.
Nice catch, CA. Not so great fact checking, B&C. It’s headlines like that that induce 40-storey plummets from stockholders.