Stock Market Hammers Media Stocks

Media stocks got hammered along with the rest of the stock market on Thursday.

While the Dow was down 1.6% to 16,170, the other big indices took it harder: Nasdaq was down almost double the Dow’s pace -- 3.1% to land at 4,054. The S&P 500 was off over 2% to 1,833.

Walt Disney was down 3.7% to close at $77.51; CBS lost 3.8% to $59.98; 21st Century Fox dropped 2.1% to $32.43; Viacom was off 3.4% to settle at $83.14; and Comcast Corp. trimmed 2.8% to $48.42.

In addition, Discovery Communications was down 1.7% to $79.38; and Scripps Networks Interactive dropped 2.2% to $74.14.

The sinking also included a number of TV station groups -- Sinclair Broadcast Group sank 4.4% to $27.82. LIN Media was down 2.5% to $25.14; and Nexstar Broadcasting was off 2.1% to $39.42.

Major TV distributors also lost ground.

DirecTV was off 1.5% to settle at $77.15; Dish Network lost 3.4% to get to $58.78; Charter Communications lost 1.7% to $121.99; and Cablevision Systems Corp. lost 2.2% to land at $17.02. Netflix took it especially hard -- losing over 5% to close a $334.73 and Google was down 3.6% to get to $546.69.

On the social-media front, Facebook was down a big 5.2% to $59.16.

"Stock market board" photo from Shutterstock.

Tags: finance, media, tv
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