Disney, CBS, GE, Time Warner, News Corp. and Viacom are all officially underperforming the Dow.
The green line on the chart above (ticker symbol $INDU) is the Dow Jones Index. The graph shows stock price performance relative to the Dow Jones since Nov. 2, the last trading day before the strike.
We're aware that many, many variables affect stock price performance; a whole industry is built around the complexity of those variables.
That said, we're simply pointing out the fact that, although the larger Dow is inarguably down, the conglomerates' stock prices have underperformed even further than the average, on a timeline that lines up with the strike. Even this Marketwatch article, which attributes the media companies' losses in part to recession fears, also points out the damage being done by the WGA strike.
According to the Neilsen numbers, ratings for the major networks have dropped in the advertiser-critical 18-49 demographic (excluding sports).
Ratings for the week ending Jan 20: