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October 7, 2008 8:20:05 AM CDT

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Cable Stock Pounding Not Over Yet

Posted Nov 19, 07 3:07 PM CST in Technology,  Business 

(Newser) – Cable stocks are getting beaten up badly thanks to a combination of factors—subscribers fleeing to satellite and other services, a general market gloom that is compounded for often-complicated cable stocks, and news that the FCC plans to beef up its oversight. Led by industry giant Comcast, the group's stocks are falling fast after rising steadily for several years, Broadcasting & Cable reports.

"I’ve never seen sentiment shift so violently, so quickly against the sector as has happened over the past three months," says one analyst. The FCC's quest to roll out a host of new regulations on cable, including some designed to lower rates and cap growth, is a particular problem. “This could not come at a worse time for cable operators," says another Wall Street observer.

Source Broadcasting & Cable

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Federal Communications Commission (FCC) Chairman Kevin Martin lostens during a hearing on localism, Wednesday, Oct. 31, 2007, at the FCC headquarters in Washington. Federal regulators on Wednesday, Oct....   (Associated Press)
The Comcast Center skyscraper, center, stands above other buildings in Philadelphia in this Oct. 10, 2007 file photo. (AP Photo/Matt Rourke, file)   (Associated Press)
A sign bearing Comcast's name hangs in the lobby of its state headquarters in Sandy, Utah. in this Nov. 3, 2005 file photo. (AP Photo/Douglas C. Pizac, file)   (Associated Press)
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