Gray Friday Hits Media Shares
Gray Friday? The 360-point drop in the Dow Jones Industrials affected media stocks this afternoon. A brief sampling:
Time Warner shares were pummeled, down 2.23 %, trading at $17.96 at the closing bell. That number is perilously close to their 52-week low.
This week The New York Times Company suffered their 52-week low on news that Morgan Stanley was selling their stake. As of the closing bell The Gray Lady’s shares were trading down 1.78 % at $18.18
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