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Communications Services Down Sharply as Meta Slides -- Communications Services Roundup

09/29/2022 | 05:40pm EST

Communications services companies fell sharply amid pessimism about the outlook for digital advertising.

Facebook parent Meta Platforms fell by more than 3.5% after reports that Chief Executive Mark Zuckerberg warned employees of a hiring freeze and restructuring on its way.

English rocker Phil Collins and his Genesis bandmates have agreed to sell a bundle of their music rights to Concord Music Group for about $300 million, the latest in a series of back-catalog deals by popular artists.

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

(END) Dow Jones Newswires

09-29-22 1739ET

Stocks mentioned in the article
ChangeLast1st jan.
COLLINS CO., LTD. -4.02% 19.1 End-of-day quote.24.84%
META PLATFORMS, INC. 2.53% 123.49 Delayed Quote.-63.29%
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