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Media and Telecom Sector Taking $30 Billion Virus Hit So Far, Analyst Estimates
"The Cost of COVID-19 So Far? $30 billion of Earnings Before Interest, Taxes, Depreciation and Amortization in 2020." That is the title of a Tuesday report from Credit Suisse analyst Douglas Mitchelson. "Cumulatively, since the start of the COVID crisis, we have taken $19 billion, or 35 percent, out of our media earnings before interest, taxes, depreciation and amortization [estimate for the year]" to $35.8 billion, he explained.