Pay Tv Industry Shows Cracks In Media Earnings

LOS ANGELES (AP) — Further cracks emerged this week in the pay TV bundle as media companies and distributors indicated that more people are cutting the cord and ditching pricey channel packages. Meanwhile, media company executives did damage control, putting a positive spin on the prospect of selling individual channels online.Disney's stock tumbled 9 percent Wednesday, a day after reporting that it was trimming its forecast for TV subscriber-fee profit growth through next year because of subscriber losses at its flagship ESPN sports network.

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