matthew strauss. saying that due to competition as well as hurricane harvey, the company expects to lose between 100,000 and 150,000 video subscribers in the third quarter. quar they called it the most competitive in recent history, with traditional rivals slashing prices as well as new digital entrants. >> investors are wrestling with the question of the viability of the traditional pay tv model. i think there's no doubt that generationally, people will be subscribing more and more to these new over the top services and i think that's likely to put some pressure on continuing pressure probably accelerating pressure on the traditional pay tv bundle. >> they dropped not on major news of their own, but those big questions raise d by disney and a g will transition into the digital media landscape and what kind of impact new bundles will have. for "nightly business report", i'a boorstin in los angeles. >> for more on disney and comcast and what the meltdown is telling us about the industry. he is senior e

was lead by our parent company comcast which had an investment conference, a gentleman named matthew strauss basically said the following about the quarter, he said this quarter is probably been one of the most competitive that i have seen in recent memory where you have distribeau tors increasing their marketing spend being much more aggressive with their offers. that was enough to send comcast shares down over 6% yesterday. they are currently down another 1.4% right now the concern though, the news exacerbated by the concerns of cord cutting which have taken so many investors to the media landscape whether it is the distributors in the case of comcast or the providers of content themselves some of whom are seemingly no longer a key position if they don't have the content that everybody wants and they won't be carried on the proliferation of over the top conglomerations that we see these days star wars film rogue one didn't do as well as the year previous. the bamtech is costing us a bit. and the hurricane opposed to thy cutting the cord and going over the top. they have come as strauss sai