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Communications Services Down as AMC Networks Highlights TV Struggles — Communications Services Roundup

Communications services companies ticked down amid concerns about the growth outlook for conventional television businesses.

Cable channel AMC Networks said Chief Executive Christina Spade stepped down from her role less than three months after taking the reins of the entertainment company.

Shares fell sharply as the company also divulged plans to lay off one fifth of its employees, as cord-cutting by American consumers pares the outlook for growth.

 

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

(END) Dow Jones Newswires

November 29, 2022 17:29 ET (22:29 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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