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Wall Street bombs, media stocks follow


September 15, 2008 A selloff in the market took down media stocks along with the broader indices Monday during the worst day on Wall Street since the 9/11 attacks. Skittish investors mostly were reacting to a shakeout in the financial sector, which saw two banking behemoths, Lehman Bros. and Merrill Lynch, essentially bite the dust. The free fall of stock markets worldwide came after a bankruptcy filing from Lehman and a rushed sale of Merrill Lynch to Bank of America reached during a weekend that saw Wall Streeters grow increasingly nervous.

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