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Communications Services Up As Facebook Restores News Service In Australia -- Communications Services Roundup

02/23/2021 | 05:30pm EDT

Communications services companies rose as investors bet Internet companies and newspaper publishers would reach a detente in a key battleground.

Facebook reached a deal with the Australian government to restore news pages to the social media company's platform as legislators were set to alter proposals that would force Internet companies to pay for traditional news, following a five-day suspension. The dispute in Australia is seen as a test case for global debates over Internet companies' responsibility to pay for news items.

Black News Channel has expanded its reach more than 20-fold in about seven months, part of its new chief executive's ambitious plan to shake up the cable-TV news landscape and provide an alternative that looks through the lens of Black Americans.

Federal Communications Commission Chairwoman Jessica Rosenworcel plans to auction "mid-range" wireless spectrum with 5G applications as telecom companies continue to vie for airwaves.

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

(END) Dow Jones Newswires

02-23-21 1729ET

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