Cord-Cutters Hammer Media Stocks

SNIP!

Updated Apr. 14, 2017 10:12AM EDT / Published Aug. 06, 2015 8:56AM EDT

Shares in U.S. media companies were hit with a steep selloff Wednesday after Walt Disney indicated that as many as 3.2 million people dropped ESPN from their cable packages. Disney shares ended the day down 9.2 percent, but the cord-cutting effect wasn’t limited to the House of Mouse. Time Warner fell 8.5 percent; Viacom declined 7.5; and Discovery Communications was down a whopping 12.1 percent. All of them rely on fees from cable subscribers. Analysts suspect customers are outright trading cable TV subscriptions for Netflix and iTunes or paring down cable packages.

Read it at CNN Money

Hackers Steal Large Sum From Anti-Trump Super PAC

The Lincoln Project said hackers set their eyes on a committee vendor, “producing authentic-looking invoices”

Kanye West Wants to Open a Porn Studio: Report

A rep for the embattled artist told TMZ that he’s in “advanced talks” to set up the project as part of his Yeezy company.

Several Crew Injured in Crash on Set of Eddie Murphy Film

Eddie Murphy and the film’s other stars, Keke Palmer and Pete Davidson, weren’t on the set at the time.

‘Giant’ Coyote Spotted Prowling Central Park Spooks Joggers

Brett Cohn said the animal stopped him “in his tracks” on Saturday morning.

Black British ‘Homeland’ Actor Clarifies Blackface Comments

David Harewood initially said actors should be able to play any character, even in blackface, as long as it’s “good.”

Scholz to Putin: Keep Kant’s Name Out of Your Mouth

Olaf Scholz says the Russian president doesn’t have the “slightest right” to cite Imannuel Kant.

Marathoner Sips Glass of Wine at Every Mile, Still Finishes

He blindly taste-tested each glass and correctly identified 21 of them.

India’s Modi Slammed for Calling Muslims ‘Infiltrators’

His campaign speech was seen as an ominous warning for India’s religious minorities if he wins a third term this year.

Cord-Cutters Hammer Media Stocks