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Media Stocks Mixed After Big Selloff

After two days of declines, some media stocks rebounded in morning trading Friday.

A round of earnings calls that confirmed that ad spending was in decline and that distribution revenue was under growing pressure led investors to sell off companies that own TV networks.

Viacom, which plunged Thursday after reporting disappointing revenue numbers, was up 4% Friday morning. Starz was up nearly 7%.

21st Century Fox and Time Warner were up 2% and Scripps Networks rose 1%. Comcast was also slightly higher.

Other stocks remained on the downside. CBS was down nearly 3% and Discovery was down about 2%, while Crown Media, AMC Networks and Walt Disney Co. were off less than 1%.

Netflix was down 3%.