On the day of Donald Trump's inauguration as the President of the United States, investors registered little change or mixed results for media companies.
Dow Jones U.S. Broadcasting &
Entertainment Index was 0.7% higher to 1,241.53, with Dow Jones Media Index up 0.6% to 835.12.
The biggest loser on the day was Dish Network, down 2.5% to $60.14; TV station group
Tribune Media gave back 1.4% to $28.49; and Twitter -- one of Trump’s favorite media tools -- slipped 1.2% to $16.59.
Other smaller losses were registered for Facebook -- off 0.4% to
$127.07; Scripps Networks Interactive, down 0.3% to $74.14; Discovery Communications, giving back 0.4% to $27.88.
On the flip side five traditional media companies -- Fox, CBS, Sinclair
Broadcast Group, Viacom, and Comcast Corp. were up 1% or more. Fox, added 1% to $30.09; CBS, 1.4% to $63.49; Sinclair, added 2.4% to $32.25; Viacom also added 1.1% to $40.23; and Comcast, adding 1.4%
to to $73.60.
Two big digital media companies -- Netflix and Google -- were virtually unchanged: Netflix was down 0.1% to $138.60 and Google [Alphabet], up 0.5% to $828.16. Walt Disney was
also in the unchanged range: 0.3% to $107.64.
Overall, Dow Jones Industrials Index inched up 0.5% to 19,827.25.