The summer of media-industry disruptions continues with a carriage dispute between Walt Disney Co. and Charter Communications Inc., which runs the Spectrum cable service.
Disney-owned DIS, -2.44% channels, which include ESPN and ABC, went dark for Spectrum subscribers Thursday night, on a busy evening for sports, as the media companies duke it out over the future of their distribution deal.
The drama weighed heavily on shares of media names Friday as it highlighted the vulnerability of the current cable landscape amid the rise of streaming.
While Warner Bros. Discovery Inc. WBD, -12.02% and Paramount Global Inc. PARA, -9.54% aren't involved in the current Spectrum dispute, their shares got crunched Friday given Charter's CHTR, -3.61% seemingly determined pushback against the status quo.