Communications Services Up as Deal Activity Intensifies — Communications Services Roundup

Communications services companies rose amid widespread deal activity in the sector.

Investment firm TPG agreed to buy AT&T's remaining stake in DirecTV and merge the satellite company with rival Dish in a one-two punch designed to keep the pay-TV provider competitive in the streaming era.

Verizon Communications reached a $3.3 billion deal that gives Vertical Bridge the exclusive rights to lease, operate and manage thousands of wireless communications towers over at least 10 years.

Australian digital real-estate listing service REA abandoned its pursuit of U.K. peer Rightmove after the latter rejected a sweetened $8.29 billion offer by the property-listing giant controlled by Rupert Murdoch's News Corp.

Lionsgate is offering a voluntary severance and early retirement program to its U.S.-based employees, as the production company faces a difficult operating environment.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

September 30, 2024 17:45 ET (21:45 GMT)

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