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Communications Services Down Amid Earnings Doubts — Communications Services Roundup

Communications services companies fell as traders hedged their bets on the outlook for earnings in the sector.

In a complex, multibillion dollar deal, Oracle heir David Ellison's Hollywood studio Skydance Media agreed to buy larger rival Paramount Global. In one leg of the transaction, Skydance will acquire Shari Redstone's National Amusements, the holding company through which the daughter of founder Sumner Redstone acts as Paramount's controlling shareholder, providing Ms. Redstone with protections against shareholder lawsuits from other Paramount holders.


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(END) Dow Jones Newswires

July 08, 2024 17:30 ET (21:30 GMT)

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