Shares of major media companies closed mixed on Friday, as concerns grew that the soaring price of crude oil, which passed $126 a barrel for the first time, will put an increasing strain on consumers as the summer approaches.
The broader market sharply declined on Friday, as a wider-than-expected loss at insurer American International Group revived worries about the strained financial markets.
Where shares of some major media companies closed on Friday:
News Corp., down 33 cents to $19.35.
Gannett Co., up 2 cents to $29.34.
Time Warner Inc., down 24 cents to $15.91.
Walt Disney Co., down 26 cents to $34.30.
New York Times Co., up 19 cents to $19.67.
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