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Communications Services Up On Deal Activity -- Communications Services Roundup

02/11/2021 | 05:52pm EDT

Communications services rose amid deal activity.

Alden Global Capital, a hedge fund that owns a big stake in newspaper publisher Tribune Publishing, is in talks to buy the newspaper chain behind titles including the Chicago Tribune and New York Daily News. Alden is already Tribune's largest shareholder with a 32% stake.

Microsoft said the U.S. should copy Australia's controversial proposal that tech companies pay newspapers for content, staking out a position opposing that of rivals Alphabet's Google and Facebook, who have long resisted such payments.

Disney+ added more than 21 million new subscribers in the first quarter as Walt Disney as a whole reported a quarterly profit, though the pandemic continued to weigh on the company, particularly the segment that includes its theme-parks business.

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

(END) Dow Jones Newswires

02-11-21 1751ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.58% 2712.6 Delayed Quote.53.89%
FACEBOOK INC -0.20% 351.24 Delayed Quote.28.58%
MICROSOFT CORPORATION 0.81% 287.12 Delayed Quote.29.09%
TRIBUNE PUBLISHING COMPANY 0.41% 17.26 End-of-day quote.25.99%
WALT DISNEY COMPANY (THE) -1.46% 172.99 Delayed Quote.-4.52%
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