Cord-cutting is officially the U.S. media industry’s fear du jour. But not all companies will fare the same if subscriber declines accelerate. Despite the negative reaction to its earnings report earlier this month, Walt Disney isn’t the most exposed. That honor goes to AMC Networks where earnings per share would fall 16.6% if domestic affiliate fees fell 10%, Bernstein estimates. Disney falls roughly in the middle of the pack: Its earnings would fall 8.7%.
Source: Overheard: Cord-Cutting Pain Is Spread Unevenly – WSJ