Share prices of the Walt Disney Co. dropped 5.3 percent Friday to $93.90 after Barclays downgraded the stock among heightened concerns about the decline in cable subscribers.
The Burbank company, just as other major networks, has been under intense scrutiny from investors since August after the network announced a decline of TV subscribers.
Friday was a brutal day on Wall Street generally, but Disney’s drop was the steepest among all Los Angeles County stocks. Disney’s price fell to its lowest level since August.