'00 Not A Good Year for "The Biz" The down market pummeled media stocks. Bellwether showbiz shares, such as Time Warner, Viacom, News Corp., Fox, MGM, Sony and USA Networks, fell an average of 30% from Dec. 31, 1999 to Dec. 29, 2000 -- the last trading day of each year. Disney alone ended 2000 nearly unchanged at $29 -- but the figure was still down a whopping 34% from Disney's 52-week high in May. Including the Mouse, members of the showbiz club plunged 50% on average from their respective highs in 2000, with most trading near their 52-week lows. Some pure-play broadcasters were hit even harder. That has some Wall Streeters bargain hunting, especially if this economic slowdown never evolves into a full-blown recession. http://www.variety.com/body.asp?HbkId=11369210&subcat=-1&ArticleId=1117791375
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