Weekly Media Stocks Roundup: Goldman Sachs
Shares in media companies took a beating this week as the broader stock market edged downward. Over the past five days, the S&P 500 lost 5.1% to 1023.
This week, final bids came due for The Washington Post Co. (WPO)’s Newsweek . Two early suitors, Newsmax Media and hedge fund manager Thane Ritchie fell out of the running, , while a new bidder, Avenue Capital, joined the ranks of potential acquirers. Shares dropped 5.7% to $408.25.
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