Media Stocks Dip Amidst Political Turmoil

Concerns over alleged troubling actions of the Trump Administration triggered a stock market market sell off early on Wednesday -- and media companies were not immune.

Dow Jones U.S. Broadcasting & Entertainment Index and the Dow Jones U.S. Media Index were down around the same levels -- each falling 1.2%. This followed the broader stock market index -- the Dow Jones Industrials sank around the same level -- losing nearly 250 points at one point, sinking down to the 20,744 index level.

Big individual losers included AMC Networks, down 2.9% to $52.04; Twitter, off 3.6% to $18.78; and Sinclair Broadcast Group, giving back 2.6% to $32.75.

Large TV/media companies had smaller dings -- more or less in line with industry averages -- with Walt Disney down 1.7% to $106.20; Comcast giving up 1.4% to $38.27; 21st Century Fox losing 1.6% to $26.20; and Discovery Communications down 1.6% to $25.18.

Two media companies showed early-day gains: Dish Network was 1.8% higher to $63.40 and Tegna, gaining 1.9% to $22.43.



Other better-than-average media performers were CBS, losing 0.8% to $60.74; Viacom, down 0.7% to $33.65; Time Warner, giving up 0.7% to $97.15; Charter Communications, down 1% to $316.65; and Scripps Networks Interactive, slipping 0.5% to $67.34.

So called FANG stocks, the big digital media players, had mixed results: Facebook, down 1.8% to $147.11; Amazon, off 1.2% to $954.81; Netflix, losing 1.9% to $156.49; and Google (Alphabet), giving back 1.2% to $953.49.

1 comment about "Media Stocks Dip Amidst Political Turmoil".
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  1. Douglas Ferguson from College of Charleston, May 17, 2017 at 1:09 p.m.

    Did not the news divisions of those media companies gin up the concern?

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