Communications Services Down As Netflix Slides After Hours -- Communications Services Roundup

Communications services companies fell amid nervousness about earnings growth.

Shares of Netflix tumbled after hours as the streaming service's subscriber growth lagged expectations, spurring fears it would struggle to maintain its robust growth rate during the height of Covid-19 lockdowns as consumer behavior shifts and streaming competition intensifies.

Newspaper publisher Tribune Publishing set a May 21 deadline for shareholders to vote on a takeover proposal by hedge fund Alden Global Capital, narrowing the window for hotel magnate Stewart Bainum Jr. to firm up financing for his competing bid.

TikTok is introducing automated captions, a feature that will add subtitles to posts in its popular video-sharing app without requiring users to enter the text themselves.

Book publisher Simon & Schuster Chief Executive Jonathan Karp said it will proceed with a book by former Vice President Mike Pence despite objections from some of its employees, saying he wants to preserve a culture that presents different perspectives.

The Daily Mail's owner filed an antitrust suit against Alphabet's Google, alleging the tech giant manipulates search results and advertising auctions in ways that harm online publishers.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

04-20-21 1750ET