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True driving force behind this market remains earnings, says Jim Cramer, but don't ignore the impact of tax reform -- if it happens.
Media stocks have outperformed the market since the inauguration of Donald Trump, with TV station owners led by Sinclair Broadcasting pacing the sector.
In light of subscriber declines and changing viewer habits, the sports giant is laying off about 100 on-air commentators, producers and writers.
Disney's ESPN is laying off around 100 employees.