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Communications Services Up Amid Deal Activity -- Communications Services Roundup

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02/13/2020 | 05:30pm EDT

Communications services companies ticked up amid deal activity.

In a disclosure made as part of its quarterly earnings report, French media conglomerate Vivendi teased an initial public offering of its Universal Music Group unit, seeking to cash in on a resurgent music business.

McClatchy, the second-largest U.S. newspaper group by circulation, filed for bankruptcy protection, a move that comes as the nation's newspaper industry is struggling to cope with a sharp decline in print advertising and the challenges of building a robust digital business. The move is expected to put an end to the McClatchy family's 163-yearlong control over the publisher.

In a good sign for advertising agencies, Kraft Heinz and other big food makers are ramping up advertising after years of cost cutting, recognizing a need to generate new enthusiasm for their condiments, candies and snacks.

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

 

Stocks mentioned in the article
ChangeLast1st jan.
THE KRAFT HEINZ COMPANY 2.76% 25.32 Delayed Quote.-21.20%
VIVENDI -2.09% 19.4 Real-time Quote.-24.86%
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