Communications Services Down, but Not by Much, Amid Deal Intrigue -- Communications Services Roundup
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Communications-services companies fell slightly amid ongoing deal intrigue. Warner Bros. Discovery's board rejected Paramount's all-cash bid, favoring a potential Netflix offer. Paramount shares fell, while Netflix shares rose. YouTube signed a multiyear deal with the Academy of Motion Picture Arts and Sciences to broadcast the Oscars from 2029 to 2033, replacing Disney's ABC, which will continue airing the awards through 2028.
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