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Communications Services Down On Growth Concerns -- Communications Services Roundup

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02/21/2020 | 05:22pm EDT

Communications services companies fell sharply amid growth concerns.

Shares of ViacomCBS compounded losses registered in the wake of its earnings report, amid fears that it will struggle to maintain growth in its cable-channel business.

Media companies continue striking deals to better compete in the "streaming wars" that have drawn in cable, broadcast and technology companies. Comcast's NBCUniversal is in advanced talks to acquire streaming-video service Vudu from retail giant Walmart, according to people familiar with the matter. Broadcaster Fox expressed interest in acquiring Tubi, an advertiser-supported streaming service that carries reruns of television shows and movies, The Wall Street Journal reported.

British education publisher Pearson said pretax profit for last year fell sharply as revenue declined and the company booked reduced gains on disposals and restructuring charges. Sprint and T-Mobile US agreed on new terms for their merger, as the wireless carriers race to close the deal after overcoming a federal court challenge.

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

 

Stocks mentioned in the article
ChangeLast1st jan.
PEARSON PLC -0.25% 559.4 Delayed Quote.-13.25%
T-MOBILE US 0.94% 83.9 Delayed Quote.6.99%
WALMART INC. -1.36% 113.62 Delayed Quote.-4.39%
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