Communications services companies ticked down as investors rotated out of growth sectors and into value sectors.
Shares of Cineworld fell sharply after the owner of cinema chain Regal Entertainment Group warned there's still doubt about its viability as a business after posting a $3 billion loss last year because of the impact of the Covid-19 pandemic.
Martin Sorrell's nearly three-year-old business, S4 Capital, reported an increase of 15.2% in like-for-like revenue in 2020, adjusting for the effects of acquisitions and currency fluctuations, a sign the longtime leader of WPP made a timely shift into digital advertising.
News Corp agreed to buy digital-first financial news and research publisher Investor's Business Daily for $275 million, a deal that will further expand the company's portfolio of investment publications.
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(END) Dow Jones Newswires