Communications services companies rose slightly as investors hedged their bets on the implications of accelerated spread of Covid-19 in the U.S. and Europe.
Peter Roth, who led the Warner Bros. Television Group to unprecedented success during his more than two-decade tenure, said he is stepping down early next year, the latest in a series of departures from AT&T's WarnerMedia unit as it attempts to shift focus to its HBO Max streaming platform.
Credit-ratings agency S&P cut its rating on cinema chain Cinemark Holdings debt to B from B+, saying "any potential second wave of the virus this winter could force Cinemark to reclose its theaters."
Shares of AMC Entertainment, another cinema chain, bounced as the company attempts to stave off financial difficulties by renting its theaters out for private movie viewings.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-16-20 1711ET
