Communications services companies fell slightly as an activist investment struggle at Walt Disney continued.
Activist investor ValueAct agreed to back Walt Disney's slate of board nominees at the coming 2024 shareholder meeting, bolstering the company's position as it fends off a proxy battle with rival activist Nelson Peltz.
Audacy is preparing to file for bankruptcy within weeks after declining advertising revenue made the radio network unable to service its nearly $2 billion debt load, The Wall Street Journal reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-03-24 1741ET
