Telecoms Down as Traders Await Merger Developments -- Telecoms Roundup

Features Dow Jones Newswires

Shares of telecommunications companies declined as traders awaited further merger developments.

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Time said it will cut more than $400 million of costs, as the magazine publisher adjusts to a world of scant print-publication sales and intense competition for online advertising.

Rumors that Liberty Global could end up buying Vodafone or the U.K. company's domestic television business may not be borne out, despite a recent deal between the two in The Netherlands, according to Wall Street Journal analysis.

CBS said it is expanding its online streaming service "All Access" abroad and launching a new digital sports network later this year in the U.S., as younger viewers continue to migrate to internet streaming from cable-tv viewing.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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August 08, 2017 17:38 ET (21:38 GMT)