Disney’s TV Woes Ripple Through Media Industry Stocks

TheStreet: Call it the Disney swoon. Shares of the “Star Wars” maker were down about 4.2% midday Wednesday to $102.11, dragging down rival media conglomerates Time Warne and 21st Century Fox, which both fell about 1%. CBS was losing 1.5%. The declines came despite all three companies having reported quarterly earnings last week that beat analyst estimates. But Disney is a bellwether for media stocks, so when the company and reported revenue and earnings for the quarter ended March that fell short of analyst forecasts, the after-effect is wide and long.