Communications Services Shares Move Higher -- Communications Services Roundup

Communications services companies were higher as regulation remained in focus.

TikTok CEO Shou Zi Chew said that divesting the company from its Chinese owners - a move the U.S. is now demanding - doesn't offer any more protection than a multibillion-dollar plan TikTok has already proposed.

Shares of social-media company Snap climbed more than 7% after the Biden administration threatened a possible U.S. ban of TikTok, a competitor video-sharing app.

National CineMedia, the largest movie-theater advertising business in North America, is negotiating to hand control to senior lenders as part of a planned bankruptcy filing, people familiar with the matter said.

The virtual cable service YouTube TV said it will boost its base subscription price by 12% to $72.99 a month, from $64.99. Part of the Google arm of Alphabet, YouTube TV said that new users will see the increased pricing effective immediately. Existing members will see the higher price starting April 18.

Write to Amy Pessetto at [e-mail]

(END) Dow Jones Newswires

03-16-23 1745ET