Communications Services Up as Disney Rallies - Communications Services Roundup

Dow Jones05:27

Communications-services rallied as Disney's new chief executive captured the market's imagination.

Disney shares rose by more than 7% after new chief executive, Josh D'Amaro, said he would make the Disney+ app a digital hub for all the company's businesses and invest in new technology, particularly around videogames.

On an earnings call, Disney Chief Financial Officer Hugh Johnston shot down persistent questions about whether it would sell or spin off some of its linear television networks, as NBCUniversal has done and Warner Bros. Discovery was planning to do before agreeing to be acquired by Paramount Skydance.

The New York Times was sued by the Equal Employment Opportunity Commission over allegations it passed over a white man for promotion in pursuit of what the agency called unlawful corporate diversity policies.

CNN founder Ted Turner, instrumental in the origins of the cable-news era, died at the age of 87.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

May 06, 2026 17:27 ET (21:27 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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