Goldman Sachs is reported to have be selling at least 135m shares in the Walt Disney Company for $15 (£10.29) a share.
If Goldman Sachs sells 135m Disney shares, they would be worth more than $2bn (£1.4bn). Shares in the motion picture and TV giant slid 11.3% to $16.41 (£11.20) yesterday afternoon.
The news follows comments from Viacom on Tuesday that it will continue with a $2bn (£1.4bn) share repurchase scheme it started in February. It is said that a number of US companies are considering share buy-back plans to help boost confidence in US markets.
TV and media companies have been particularly hard hit because they were suffering from a slowdown in advertising revenues before the terrorist attack.
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