Major media companies' shares fell with the broader market Friday morning as oil prices surged to record levels and speculation mounted about a possible government bailout of Fannie Mae and Freddie Mac.

In other news, an annual retreat for media and Web leaders on Thursday, News Corp. Chairman Rupert Murdoch said his media conglomerate is "very unlikely" to be a part of any deal for Yahoo Inc.

Also Thursday, NBC Chief Executive Jeffrey Zucker said General Electric has no plans to sell its NBC Universal media unit. GE's second-quarter earnings report met Wall Street's expectations Friday morning.

Here is a look at how shares of some major media companies were faring Friday morning:

New York Times Co. fell 54 cents, or 4 percent, to $13.08.

Walt Disney Co., fell 66 cents, or 2.2 percent, to $28.94.

News Corp. fell 30 cents, or 2 percent, to $14.40.

Time Warner Inc. fell 26 cents to $13.60.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.