Media ETF Reels As Viacom, Gray TV, AMC Are Tuned Out

Otmane El Rhazi from Investor's Business Daily - ETFs RSS.

Media-focused ETFs sold off briskly Thursday on a slew of lackluster earnings foreshadowed by the Disney (DIS) bust earlier this week. The latest results confirm the trend of cable customers abandoning pay TV bundles for cheaper Internet streaming services such as Netflix (NFLX). PowerShares Dynamic Media (PBS) slumped 4.8% to 24.33. The $159.6 million ETF slipped through its 200-day line on the stock market today, with Viacom (VIAB), Gray