Media Companies Down Amid Stock Market Meltdown

By Jon Lafayette
( Broadcasting & Cable )
published

Media companies took a beating as the stock market plunged on renewed fears of a tariff war between the U.S. and China.

The Dow Jones Industrial Average fell nearly three points and most media companies were lower to a similar degree.

Netflix, weakened by its most recent earnings report that shows subscriber growth was less than expected, dropped 3.51%.

Among the programmers, CBS plunged 2.66%, Comcast dropped 2.44%, The Walt Disney Co. was down 2.41%, Viacom was down 1.61%, Fox declined 1.58%, and Discovery fell 0.85%.

AT&T was down 1.995. Dish fell 1.43% and Charter dipped 1.28%

Apple was down 5.24%, while Google dropped 3.49%.

In the measurement space, Nielsen fell 3.74% and Comscore was down 4.4%.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.