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Entertainment media cos. dip ahead of Fed decision



By AP
16 September 2008 @ 10:26 am EST

NEW YORK - Shares of entertainment media companies declined early Tuesday as jittery investors braced for the Federal Reserve's interest rate decision and more news on insurer American International Group Inc.

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Quotes
AIG 1.6 0.16
BAC 11.47 0.22
TWX 8.12 1.05
CBS 4.98 0.47
VIA 14.66 1.57
DIS 21.12 2.39
MVL 26.09 2.39

SYMBOL LOOKUP

Worries about AIG have mounted after several ratings agencies trimmed their ratings on the company. Lower ratings can add to the amount of money the already cash-strapped company has to set aside.

Investors were also still reeling from Monday, one of the worst days on Wall Street since the Sept. 11 terrorist attacks in 2001, when the markets dealt with Lehman Brothers' bankruptcy news and Merrill Lynch & Co.'s sale to Bank of America Corp.

Time Warner Inc. slipped 31 cents, or 2.2 percent, to $13.81.

Viacom Inc. fell 36 cents to $26.26.

CBS Corp. shed 34 cents, or 2.1 percent, to $15.82.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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