Weekly Media Stocks Roundup: News Corp. Advances, Washington Post Declines
Shares in media companies showed mixed results this week, as the broader market edged up slightly — the S&P 500 added 1.4% over the past five days to end at 1167. In news business headlines, a report by the Newspaper Association of America revealed that newspaper ad revenues suffered their worst plunge in decades.
Shares of the New York Times edged up 0.5% to close at $11.11. The Boston Newspaper Guild took Chairman Arthur Sulzberger and CEO Janet Robinson to task for accepting hefty compensation packages for 2009 even as workers at the Times-owned Boston Globe suffered declining wages and benefits.
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