Media stocks face summer chill amid economic downturn

Some of the top media companies have seen their stocks get hammered during the summer amid the months-long economic downturn.

Why it matters: Earnings season has been brutal for media companies so far. Nobody expects it to get any better anytime soon.

What's next: Paramount and Warner Bros. Discovery will report their quarterly earnings on Thursday. Disney is set for next week.

• WBD execs are expected to finally share their streaming plans for HBO Max and Discovery+.

💭 Tim's thought bubble: You know it's bad when Netflix's losing fewer subscribers than expected is viewed as a win.