Communications services companies were flat amid deal activity.

Liberty Media said Chief Executive Greg Maffei will step down, as the media conglomerate works to simplify its corporate structure by separating into two businesses: one focused on sports and one for live entertainment.

Charter Communications agreed to buy Liberty Broadband, its largest shareholder, in an all-stock deal, completing a back-and-forth negotiation meant to simplify the companies' linked structure. Separately, the European Union's General Court upheld the bloc's decision to approve Vodafone's $20 billion-plus acquisition of some of Liberty Global's telecommunications assets in Europe, thwarting a legal challenge from German rivals.

Frontier Communications shareholders approved a $9.6 billion sale to Verizon Communications, thwarting a campaign led by some disgruntled investors to seek a higher price.

Spotify plans to start paying hosts who make popular videos and meet a certain viewing threshold, and will soon offer premium subscribers a way to watch shows such as "The Joe Rogan Experience" and "Anything Goes with Emma Chamberlain" without ads as competition intensifies with rival YouTube.


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

(END) Dow Jones Newswires

11-13-24 1802ET