Telcoms Advance as Traders Await Deal Developments — Communications Services Roundup
Communications services companies ticked up as traders awaited developments in the deal market.
Paramount Global was more or less flat as traders digested reports that Sony has thrown its hat into the ring as the Hollywood studio entertains acquisition overtures.
Shares of Verizon Communications tumbled after the carrier posted a modest increase in quarterly revenue.
Hipgnosis Songs Fund rallied after the investor in song rights from artists such as Neil Young, Shakira and Red Hot Chili Peppers, said it received a $1.5 billion offer approach from investment firm Blackstone that it would be prepared to recommend to shareholders if a formal takeover was made.
Aaron LaBerge, a Walt Disney technology executive involved in major projects such as Hulu's integration with Disney+, is leaving the company.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 22, 2024 17:20 ET (21:20 GMT)
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