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Communications Services Down As Stalled Stimulus Talks Weigh On Consumer Prospects -- Communications Services Roundup

10/19/2020 | 05:25pm EST

Communications services companies fell amid doubts about the prospects of U.S. consumers.

Hopes that the U.S. was close to passing a second round of coronavirus relief faded during Monday's session, as negotiations ran up against a deadline set by House Speaker Nancy Pelosi.

AT&T named Channing Dungey, a former creative executive at Netflix and Walt Disney, as the next chairman of Warner Bros. Television Group. AT&T Chief Executive John Stankey said growth of its HBO Max streaming service has been stymied by unfair advantages belonging to tech rivals such as Apple and Amazon.com.

Verizon Communications said it's buying certain assets of Bluegrass Cellular, a rural wireless operator that provides service to about 210,000 rural customers in central Kentucky.

Shares of Snapchat owner Snap Inc. tested a new all-time high Monday, a day before the social-media company is due to report third-quarter earnings.

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

(END) Dow Jones Newswires

10-19-20 1724ET

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