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Media Firms Hit Hard as Bailout Fails


September 30, 2008 The U.S. stock market suffered one of the worst days in its history Monday -- and judging from what fell hardest, you'd think the teetering economy is the fault of entertainment companies instead of shenanigans at financial institutions. What crushed stocks not only here but abroad was the decision by House lawmakers to reject the $700 billion bailout of economically shaky mortgage and financial companies. Also falling to new lows were Sirius XM Radio, Apple, Sinclair Broadcasting, Google, Yahoo!, Electronic Arts, News Corp., Time Warner and CBS.

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