Communications-services companies fell amid skepticism about the outlook for media deals and industry growth.

Gerry Cardinale, founder of investment firm Redbird Capital Partners, a major shareholder in Paramount Skydance, is lobbying European regulators to support Paramount's bid for Warner Bros. Discovery over the current deal with Netflix.

Verizon Communications received the final approvals needed to buy fiber-optic broadband provider Frontier Communications after agreeing to some concessions to California regulators, including a small-business spending commitment.

Italy's competition regulator is investigating Microsoft's Activision Blizzard, saying the U.S. gaming publisher might be misleading consumers through its popular games "Diablo Immortal" and "Call of Duty: Mobile" with aggressive practices to keep players on the platforms.


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

(END) Dow Jones Newswires

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