Shares of telecommunications companies rose amid optimism about the outlook for deals in the sector, and as a terrorist attack in the U.K. gave the stock market a defensive tone.
AT&T plans to take an active role in programming and advertising strategy at Time Warner once the telecommunications provider acquires the entertainment conglomerate. Speaking to investors at a Boston conference, AT&T Chief Executive Randall Stephenson said his company could help make Time Warner programming more phone-friendly and boost its advertising rates above where they would be for both stand-alone companies.
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(END) Dow Jones Newswires
May 23, 2017 17:34 ET (21:34 GMT)