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Closing Glance: Media companies' shares close mixed

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May 9, 2008

NEW YORK—Shares of major media companies closed mixed on Friday, as concerns grew that the soaring price of crude oil, which passed $126 a barrel for the first time, will put an increasing strain on consumers as the summer approaches.

The broader market sharply declined on Friday, as a wider-than-expected loss at insurer American International Group revived worries about the strained financial markets.

Where shares of some major media companies closed on Friday:

News Corp., down 33 cents to $19.35.

Gannett Co., up 2 cents to $29.34.

Time Warner Inc., down 24 cents to $15.91.

Walt Disney Co., down 26 cents to $34.30.

New York Times Co., up 19 cents to $19.67.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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