Shares of telecommunications companies rose amid deal activity. Shares of broadcaster Tribune Media rose after rival television station owner Sinclair Broadcast Group agreed to buy it for about $3.9 billion. The deal would combine two of the nation's biggest operators of local television stations just weeks after the Federal Communications Commission relaxed its television ownership rules. Meanwhile, cable rivals Comcast and Charter Communications have struck a wireless partnership as the cable giants look to get a piece of the cutthroat business. As part of the deal, Comcast and Charter have agreed not to make a material merger or acquisition in wireless without the other's consent for one year. That comes after rumors that Verizon was seeking a big deal in the cable space in response to AT&T's merger with media conglomerate Time Warner.
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(END) Dow Jones Newswires
May 08, 2017 16:44 ET (20:44 GMT)