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It has been a turbulent few months for media
companies.
In early August, media stocks including Disney, Viacom
and Time Warner fell sharply. Investors seem to be worried,
principally, about one thing: The prospective undoing of the
expensive cable television bundle. People seem to be growing
agitated with their cable bills, especially as more online
choices
like Netflix or Hulu are being offered at a fraction of the
price.
Most industry analysts agree that the bundle, as it exists
now,
is in trouble. Or, as CBS’s chief executive, Leslie Moonves,
put it earlier this year:
“The days of the 500-channel universe are over.”
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