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Media Stocks 2024 Winners & Losers: Netflix Soars, Disney Rebounds, WBD Flounders
Netflix was the breakaway winner among media stocks in 2024, with its shares nearly doubling in price over the course of the year.
Shares slumped over the summer on concerns over weakness in its theme parks biz — then clambered back up in November on strong earnings results and streaming profits, and Disney’s three-year forecast for EPS growth. In August, the company’s shares hit all-time lows after the media conglomerate — heavily reliant on its pay-TV business — announced a whopping$9.1 billion write-down reflecting the loss of value of its linear television networks. Comcast, whose stock was down 14% for 2024, laid the groundwork to spin off most of NBCUniversal’s cable TV assets in a bid to improve its core financial profile.
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