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Media stocks mixed as markets drop again

Media stocks drew mixed reviews on Friday as the overall market dove, came back and plunged once more in a roller coaster through late morning.

The Dow Jones industrial average initially dropped 313 points before the market recouped that loss, only to fall back again, with the Dow 188 points at 11 a.m. (ET). The Nasdaq was off 50 points, with the Standard & Poors index dropping 21 points.

Among the major media issues, Disney, which bought 50 million of its own common shares at a discount on Thursday, rose 50 cents to $17.50. Viacom rose 25 cents to $30 per share. AOL Time Warner was trading at nearly $29 and News Corp. came in at $23.55, both stocks losing about 50 cents a share. - Richard Tedesco