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NEW YORK Media conglomerates were hammered Tuesday on Wall Street, along with the rest of the market, in a swoon that coincided with an 85-page report from Stanford Group that was largely bullish on big entertainment companies.
Stanford sees a 6 percent decline in U.S. advertising spending this year but said, “Large-capitalization media companies will weather the storm better than most.”
Stanford said cable and satellite TV remain resilient, as does filmed entertainment. The report cites as proof of the latter that U.S.
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