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Media Stocks Slide as Market Declines

The stock market dropped Thursday, ending a short streak of gains, and media companies' share prices suffered.

The Dow Jones Industrial Average plunged 170.89 points, or 1.51%, to close at 11,149.82. The loss came after three straight trading sessions in positive territory and was the result of continued worries about the weak state of the economy.

Among companies in the television business, Crown Media dropped more than 8% to finish at $1.25.

CBS, Viacom, Time Warner, Scripps Networks and DirecTV all declined more than 2%.