Telecoms Climb Amid Deal Activity - Communications Services Roundup
Communications services companies rallied amid deal activity.
Paramount Global shares rose as a merger with Skydance Media reportedly neared.
David Ellison's studio reportedly agreed to buy Shari Redstone's National Amusements firm, the vehicle through which Redstone holds the majority of Paramount.
That deal would allow Skydance to merge operations with Paramount, the latest twist in the on-again, off-again deal saga.
Netflix, Walt Disney, and other U.S. streaming companies have asked a Canadian court to stop plans by authorities to force them to fork over 5% of their sales in the country to help finance local broadcast news and other domestic content.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
July 05, 2024 17:06 ET (21:06 GMT)
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