A volatile market, plunging tech stocks, and fears of a looming recession (or at least, a major correction) are sending jolts through the media world. Last week Bloomberg reported that in December The Fidelity Blue Chip Growth Fund had cut Snapchat’s holding by 2 percent—its second write down of Snapchat in three months—and that Yahoo had reduced its valuation of Tumblr by $230 million, amid cost-cutting plans of its own.
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