Media Stocks Mixed Amid Writers Strike, Fed Interest Rate Hike

📆 04/05/2023 0:07:00
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Shares of media companies stayed relatively tranquil Wednesday amid the work stoppage imposed by the WGA’s writers strike and another interest rate increase by the Federal Reserve. Writers Gu…

. Meanwhile, the Fed on Wednesday raised its benchmark policy rate by 0.25%, to a new range of 5% to 5.25%, which is the highest it’s been since September 2007.

Media company stocks saw a muted response. Gainers on the day included Warner Bros. Discovery , Netflix , Disney and Lionsgate . Companies ending lower after regular trading Wednesday included Paramount Global , NBCUniversal parent Comcast , Fox Corp. and AMC Networks .

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