The Hollywood Reporter.
In the first half of 2017, the S&P 500 is up 8.2 percent, but five of the seven media conglomerates are underperforming that benchmark. In fact, of the 50 media companies tracked by THR, 30 have either fallen or have advanced less than the broader markets.
Some of the carnage in the first half of the year can be attributed to television, with several cable and broadcast networks struggling with poorly rated shows amid competition from Netflix and Amazon.com and soon from Facebook and others. Hence, some of the more pure-play TV companies are suffering, like Discovery Communications (down 6 percent) and AMC Entertainment (up just 2 percent).
As for the conglomerates, here’s how they have fared: 21st Century Fox (up 2 percent); CBS (down 1 percent); Viacom (down 3 percent); Walt Disney (up 2 percent); Time Warner (up 5 percent); Comcast (up 13 percent); Sony (up 36 percent).