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Sluggish economy will affect entertainment biz


May 27, 2008 Let's end right now any discussion about whether media and entertainment companies will feel a pinch from a sluggish U.S. economy. Sure, entertainment executives didn't always answer earnings-call questions about a possible U.S. recession in much detail, but the writing on the wall was there. News Corp. chairman and CEO Rupert Murdoch put it most bluntly, saying, "There's no doubt the consumer economy is stressed."

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