WAN-IFRA

Shaping the Future of the Newspaper

Date

Fri - 25.05.2012


Media firms caught up in chaotic market

Media firms caught up in chaotic market

Media stocks became intertwined in Monday's chaotic market, leaving ITV's share price at an all-time low, the Guardian reported Monday.

UK-based ITV on Friday had a closing price of 64.5, but fell 4.7 percent to a record low of 61.5 Monday morning. At around 11:05 a.m. it rose to 62.

ITV has been stumbling since November, mostly due to UK satellite group BSkyB, which will likely have to sell its 17.9 percent stake in the broadcaster, the Guardian reported.

Sky shares were also down Monday. In November 2006, Sky bought its shares at 135. However, now the shares have fallen 2.2 percent to a low of 528.5. However, they also rose in the 11 a.m. hour, to 535, according to the Guardian.

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Author

Alexandra Zeumer

Date

2008-03-18 05:09

Shaping the Future of the Newspaper


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