Communications services companies ticked down as the Hollywood movie industry saw another challenge to its longtime business model.

AT&T's Warner Bros. will release its entire 2021 slate of theatrical films simultaneously in theaters and on its HBO Max streaming service, the studio said Thursday, taking the most drastic step yet in eliminating the exclusivity theater chains have enjoyed for decades.

The move is also designed to generate enthusiasm about the streaming service, which is in a dogfight with other major services, such as Amazon.com's Prime Video, Netflix and Walt Disney's Disney Plus.

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

(END) Dow Jones Newswires

12-03-20 1721ET