Communications services companies edged higher but lagged the broader market amid continued turmoil in Hollywood.
Shares of Warner Bros. Discovery fell after the company said Thursday that the releases of three of its coming, big-budget action and fantasy films, will be pushed to later dates, the latest complication stemming from the dual writers and actors strikes that have brought Hollywood to a standstill.
The studio said “Dune: Part Two,” “Godzilla x Kong: The New Empire” and “Lord of the Rings: The War of the Rohirrim,” would now be released throughout next year. The “Dune” sequel was initially set to open this November. Pushing back the releases of films that are largely finished underscores the important roles that writers and actors play in promoting movies for studios. Actors haven’t been able to promote films since their union went on strike in mid-July.
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