The Vivendi effect was once again evident in the performance of media shares yesterday. RTL slid over 18% and Future shares shed more than 14% of their value. Telewest fell more than 8% in value, while Cable & Wireless went down 5p to £1.66.
Advertising giant WPP was among the worst performers in the FTSE 100, dropping 33˝p to £5.28˝, but it was not alone in its downward path, as media outfits including GWR, SMG and UBM saw 5% or more disappear from their share value.
The closing prices of media company shares yesterday were:
