Communications services companies rose after one Hollywood powerhouse moved closer to a buyout and another averted a major overhaul.
Shares of Paramount Global rallied following a report that the owner of the eponymous streaming service and movie studio may be one step closer to a buyout from rival Hollywood studio Skydance, controlled by the Ellison family.
Walt Disney shares slipped after proxy election results revealed that Chief Executive Bob Iger defeated Nelson Peltz, one of the most influential activist investors, who had mounted a campaign to install a new board and shake up the entertainment conglomerate.
Spotify rallied after the Swedish audio streaming giant reportedly issued plans to raise prices again in the U.S. and some other markets.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-03-24 1749ET
