Massive Selloff In Media Stocks Amid Renewed Concerns of Cord Cutting

The media industry saw significant activity last week amid quarterly earnings. While earnings were mixed with some beating the estimates and some falling short of the consensus, most of the media stocks were sold heavily the past week. While most of the earnings were impacted by unfavorable currency effects, the reason for panic among investors is the falling ratings and cord-cutting. However, it appears that the selling has been an overreaction, especially with stocks like Viacom, which is now ...