Communications services companies were flat amid deal activity.
Shares of Discovery Communications surged after analysts at brokerage Bank of America boosted their rating on the network's shares, saying its plan to merge with WarnerMedia could turn out to be lucrative for Discovery investors.
New York Times Co. agreed to buy sports-media company the Athletic for $550 million, as the newspaper publisher seeks to draw in young readers. The Athletic has roughly 1.2 million subscribers paying $7.99 a month for sports content, including coverage of teams in all the major sports.
Buzzfeed appointed Complex Networks Chief Executive Christian Baesler as its new chief operating officer, with oversight of all revenue functions.
In the latest of a series of royalty deals, investment firm KKR and joint-venture partner BMG have acquired the songwriting catalog of 47-year-old R&B crooner John Legend for an undisclosed sum.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-07-22 1729ET
