Mediamageddon – If ESPN Dies, We All Die!
Last week the S&P Media Index lost 8.3 percent (approximately $53.7 billion of value) in just three days. During that time, shares of Viacom (VIA) lost 20 percent, 21CF (FOX) and Discovery Networks (DISCK) lost 11 percent, Disney (DIS) took a 9 percent hit, and even CBS dropped 6 percent. It was a tough week….