Disney, a Dow Jones Industrial stock, was down 6.2% to $100.26 with Time Warner off 3.7% to $75.03 in midday Thursday trading. Todd Juenger, senior media analyst at Bernstein Research, made lower recommendations for those two media stocks.
All that pushed down other media stocks as well -- including new media companies such as Netflix, Facebook, and Twitter. Netflix was 8% lower to $113.35; Facebook sank 4.2% to $91.41; and Twitter gave up 5.3% to $26.22.
Other major losers: Viacom dropped 5.4% to $40.91; Discovery Communications was down 5% to $27.46; Sinclair Broadcast Group had a 8% decline to $26.87; Scripps Networks Interactive was off 4.6% to $54.55; CBS was down 3.9% to $46.68; and AMC Networks were 3.4% lower to $70.55.
Some of the cable TV operating groups fared somewhat better: Comcast was down 2.6% to $58.38; Charter was off 2.2% to $184.10; and Cablevision down 1% to $24.85.
Google fared better than other digital media counterparts -- down 2% to $681.34.
S&P 500 Media Index lost 3.7% in Thursday mid-day trading to 559.90. By way of comparison Dow Jones Industrials index was off 1.4% to 17,102.16.
Two weeks ago, on August 6, media stocks were roughed up in the stock market. That was due to concerns over cord-cutting/shaving by consumers when it comes to traditional pay TV companies monthly packages of cable networks -- as well as overall fears of massive changes to the TV ecosystem.