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Media Not Spared by Wall Street Bloodbath

Media companies took their lumps along with everybody else on Wall Street, with the Dow Jones Industrial Index down 777.68 points.

It was the worst one-day drop in history and the largest percentage drop since right after the Sept. 11, 2001, terrorist attacks.

The market plummeted after the House defeated a government bailout package for the financial sector amid fears about what it could mean for the general economy. Virtually every sector felt the sting of Monday's stock-market attack of the jitters.

Near the market's close, News Corp. shares traded at $12.07, down $1.18 per share, or 8.91%. Time Warner Cable was trading at $23.65, down $1.59 or 6.3%. Disney shares were down 9.2%, or $3.02 apiece, at $29.73. CBS shares were down 7.14%, or $1.10 each, at $14.58. And Viacom shares fell 7.8%, or $1.99, to $23.44.