Communications Services Flat Amid Verizon CEO Change and Deal Activity

Communications-services companies were flat due to a sudden leadership change at Verizon Communications, which appointed Daniel Schulman as its new CEO, succeeding Hans Vestberg. Shares of AT&T and T-Mobile US also fell amid fears of a price war. Paramount Skydance agreed to buy journalist Bari Weiss's Free Press news organization for $150 million and installed Weiss as head of CBS News.

Verizon Communications Appoints New CEO Amid Tough Competition

Verizon Communications announced the appointment of Daniel Schulman as its new CEO, succeeding Hans Vestberg. Schulman, the former CEO of PayPal, will take the helm immediately, with Vestberg serving as a special advisor until October 4, 2026. Verizon's stock slid 1% to $43.24 ahead of the opening bell, reflecting market uncertainty following the leadership change Verizon Names a New CEO. The Ex-PayPal Boss Faces These Challenges.^[1].

Verizon has faced intense competition from rivals like AT&T and T-Mobile US, which have been vying for both home internet and wireless customers. The Trump administration’s deportation policies are also expected to impact the industry, as immigrants typically contribute significantly to subscriber growth Verizon Names a New CEO. The Ex-PayPal Boss Faces These Challenges.^[1].

AT&T Stocks Slip Ahead of Q3 2025 Earnings Report

AT&T Inc. (T) is set to release its fiscal third-quarter earnings for 2025 before the market opens on Wednesday, October 22. Analysts expect the company to report a profit of $0.54 per share, down 10% from the year-ago quarter. Despite the expected decline, AT&T's stock has outperformed the S&P 500 Index, gaining 22.7% over the past 52 weeks. Analysts' consensus is bullish, with a "Moderate Buy" rating overall What to Expect From AT&T's Q3 2025 Earnings Report^[2].

Paramount Skydance Acquires The Free Press and Appoints Bari Weiss as CBS News Editor-in-Chief

Paramount Skydance Corp. (PSKY) announced a deal to acquire The Free Press, an online news site founded by Bari Weiss, for $150 million. Weiss will also serve as the editor-in-chief of CBS News, reporting directly to the company's CEO, David Ellison. The acquisition and appointment aim to enhance CBS News' editorial independence and diversity Paramount Skydance Acquires The Free Press, Names Bari Weiss As Chief Editor Of CBS News^[3].

Market Reactions and Outlook

The sudden leadership change at Verizon, along with the anticipation of AT&T's earnings report and Paramount Skydance's acquisition, has led to market volatility in the communications services sector. Investors will closely monitor Verizon's strategy under new leadership and AT&T's earnings report for insights into the companies' future performance.