Gray Friday? The 360-point drop in the Dow Jones Industrials affected media stocks this afternoon. A brief sampling:

Time Warner shares were pummeled, down 2.23 %, trading at $17.96 at the closing bell. That number is perilously close to their 52-week low.

This week The New York Times Company suffered their 52-week low on news that Morgan Stanley was selling their stake. As of the closing bell The Gray Lady's shares were trading down 1.78 % at $18.18 a share, also perilously close to the 52-week low.

CBS Corp shares were down 2.41%, trading at $28.70 a share.

Finally, NewsCorp was also down 3.98% trading at $22.66.