Communications services companies fell sharply after Alphabet's artificial-intelligence launch raised worries about the digital economy.
AI is set to have a big impact on the media business, as illustrated by Buzzfeed's recent engagement of OpenAI's services.
Shares of New York Times surged after the newspaper publisher added 240,000 digital subscribers, well above analysts' expectations.
Fox Corp. Executive Chair and Chief Executive Lachlan Murdoch said the media company was on the hunt for merger-and-acquisition targets after calling off plans to remerge with News Corp., publisher of this item.
Walt Disney shares rallied in late trading after the entertainment conglomerate's earnings report alleviated concerns about the profitability of the Disney Plus service.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-08-23 1728ET
