SAN FRANCISCO (Reuters) - S&P Dow Jones Indices and MSCI said on Thursday they would rename their Telecommunication Services Sector and add Comcast Corp, Netflix, Facebook and Alphabet to the newly broadened category.
In an overhaul of the Global Industry Classification Standard, or GICS, an industry taxonomy widely used by investors, the Telecommunication Services Sector will be expanded and renamed Communication Services, S&P Dow Jones Indices and MSCI said in a statement.
S&P Dow Jones Indices and MSCI said in November 2017 they were planning changes to the categories and that they would be implemented after the close of business on Sept.
Walt Disney Co and DISH Network Corp, both currently in the Consumer Discretionary Sector, will also join the Communications Sector.
Comcast and Netflix currently fall under the Consumer Discretionary Sector, while Alphabet and Facebook are currently in the Information Technology Sector.