Media's Biggest Losers

Though 2008 may be almost over, media people may want to avoid looking back at the year that was. The Business Sheet has assembled a list of the year’s 25 biggest media losers. Fox News President Roger Ailes clocks in at number 20 with a loss of $3.7 million, but compared to some of the names at the top of the list, he’s practically swimming in dough. Arthur Sulzberger Jr. lost $76.7 million as The New York Times Co.’s stock fell 50 percent. Even Sulzberger’s losses, however, are dwarfed by the year’s biggest loser, Viacom and CBS-controlling shareholder Sumner Redstone, who lost a whopping $7.2 billion. His daughter, Shari almost made the list ($426,000) making the Redstones and the Murdochs (Rupert: $3.95 billion; James: $48 million) the only parent-sibling duos to appear. Other big losers include Martha Stewart, who lost $323 million and Sam Zell, who could lose up to $315 million in the Tribune Co.’s bankruptcy filing.