The FTSE 100 was trading down 2.1% at 4,329.8 points, hitting a new low for the year.
Carlton was the biggest faller dropping 5.41% to 192.5p followed by Reuters, which suffered the second biggest drop falling 5.26% by late morning falling to 315.5p.
Analysts speculated that Carlton might also have been still suffering on the loss of the digital terrestrial licence. Carlton and Granada failed in their bid to win back the licence, which was last week awarded to the BBC.
Carlton's partner Granada was down 2.88% to 101p, while BSkyB suffered a heavier fall dropping 4.48% to 575.5p.
On the advertising front, all the major stocks fell led by Lord Bell's Chime, which fell 4.1% to 70p. WPP Group dropped 2.04% to 503p and Aegis dropped 1.64% to 89.75p.
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