Thursday January 29, 08:00 PM
STOCKS NEWS US-Media co's down after Media General posts loss
Stocks on the move Real (Frankfurt: BJU1.F - news) -time Equity news
U.S. stock market report
1441 ET 29Jan2009-Media co's down after Media General posts loss
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Shares of media companies tumbled on Thursday, after Media General
reported a fourth-quarter loss and eliminated its dividend, hurt by the
recession and a steep decline in advertising revenue.
The stock tumbled 19 percent to $2.31 while the Dow Jones U.S. Media Index was down 3.2 percent to 171.74. Among its peers, New York Times Co (NYSE: NYT - news) dropped 4.5 percent to $5.71 and Washington Post Co was off 2.8
percent to $409.02.
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