Media stocks take a dive with Ten, Prime and Seven West Media the worst punished shares

September 29, 2015 6:47

Media stocks have today been punished as the ASX All Ordinaries index took a pummelling, falling 3.63 per cent and taking $55bn off the value of the market.

ASX All Ordinaries (XAO) | Source: Google Finance

TV networks were among the worst affected with Prime Media (ASX:PRT) down 5.36 per cent to 53 cents, Ten (ASX: TEN) which fell 5.13 per cent to 18.5 cents and Seven West Media (ASX: SWM) which fell 4 per cent to 72 cents.

News Corp (ASX: NEC) were also affected falling 4 per cent to $17.74 while Nine Entertainment (ASX: NEC) shares held up comparatively well falling 2.51 per cent to $1.55.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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