These graphs sure don’t look pretty but they get really ugly when you realize they are five year graphs:

Sinclair Broadcast Group and Granite Broadcasting continued the trend of broadcast companies reporting weak 2nd quarter revenues this week, due primarily to a drop in the big automotive advertising category and falling network compensation. While everybody tends to look at and write about trends in programming, distribution and advertising, underneath it all is the volatility of broadcast stock prices. Wall Street is plenty nervous, and here’s why.

They throw in a bunch of other media stocks as well, like the New York Times just so that your heart can be warmed by all media stocks tumbling simultaneously. [via Buzzmachine]