Digital Future Fears Chill Media Stocks

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Media stocks tumbled last week following a Lehman Brothers report that said companies like Walt Disney, Time Warner, News Corp, CBS and Viacom are ill-prepared for a digital future. Firm analyst Anthony DiClemente said digital sales won't make up for losses in revenue from traditional hard goods, like DVDs, that margins for producing entertainment programming are shrinking, and piracy will grow more rampant as consumers shift to digital consumption of entertainment.
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