Media Stocks: 'The Hits Keep On Coming'

The “hits” keep coming for big media companies -- unfortunately with regard to the current stock-market woes.

Following big losses last week, Wall Street took more heavy blows on Monday. Dow Jones Industrials lost 1.4% -- over 223 points -- to end at 16,321. Broader indices tallied losses at the same level: Nasdaq dropped 1.5% -- 62.58 points -- to 4,213; and the S&P500 lost 1.7% -- 31.39 points -- to 1,874.

Many media companies took on worse declines, percentage-wise:

• Discovery Communications was down 3.3% to $33.91
• Viacom dropped 3.2% to close at $68.22. 
• Dish Network gave back 3.3% to end at $59.61.
• Twitter lost 3.8% to land at $48.49
• Comcast was down 1.9% to $51.64
• 21st Century Fox gave up 2% to $30.91
• CBS also went negative by 2% to $49.91
• Walt Disney lost 2.7% to close at $83.73.

TV station company Sinclair Broadcast Group was one the few in the category to make a gain on the day, up 1% to $24.18. TV station group Nexstar Broadcasting also improved a bit, 1.4% higher to $36.97.

• Tribune Media went in the negative direction, off 24% to close at $57.00
• Gannett took a step backwards -- down 3.4% to close at $26.34
• Media General slipped 0.4% to $12.66.

Radio stocks weren’t immune:

• Entercom the only pure-play radio stock to gain, up nearly 3% (22 cents) to $8.30 a share
• Emmis dropped 3%
• Spanish Broadcasting System was pounded for a 13% loss, down 49 cents to $3.07 a share.
• Cumulus shed another 2% on Monday, down seven cents to a 52-week low of $3.04.