New US sanctions target Russia's tech sector; Microsoft acquires Minit

TOP NEWS IN TMT

* The U.S. Treasury Department imposed new sanctions targeting Russia's technology sector and sanctions evasion networks following the invasion of Ukraine. The department's Office of Foreign Assets Control added 21 entities and 13 individuals to its sanctions list, including Mikron, Russia's largest chipmaker and exporter of microelectronics, and supercomputer company T-Platforms.

* Microsoft Corp. acquired Minit JSA from a group of investors including Salesforce Ventures LLC, Earlybird Venture Capital GmbH & Co. KG and OTB Ventures for an undisclosed sum. Minit develops process mining technology that allows businesses to transform the way they analyze, monitor and optimize their processes.

➤ Gaming industry delves deeper into subscription offerings

Sony's new PlayStation Plus offerings are part of a growing effort in the video game industry to tap into subscription-based models. The trend is expected to gain traction as Big Tech companies move into the space.

➤ Latin America's box office continues growth in February with 492.9% YOY surge

Among the monitored markets, Mexico outpaced Brazil and Argentina, with the country's cumulative gross box office revenue improving year over year by 417.4% for the month to $26.3 million.

➤ Premium networks gain subscribers, thanks to OTT

Premium network units from over-the-top rose by 37.2% in 2021, while traditional multichannel lost some 13.3%.

TECHNOLOGY

* Amazon.com Inc.'s union election at an Alabama warehouse will advance into a hearing to review 416 contested ballots after early results showed 875 workers voted for unionizing and 993 voted against it, Dow Jones Newswires reported, citing the National Labor Relations Board. In a separate election at the company's facility in Staten Island, N.Y., 57% of the roughly 2,700 votes counted were in favor of unionizing, although it is unclear how many ballots have yet to be counted or are challenged.

* Amazon renewed a deal with JPMorgan Chase & Co. allowing the latter to issue the Amazon Prime Rewards credit card, CNBC reported, citing people with knowledge of the negotiations. American Express Co. and Synchrony Financial were also reportedly involved in the discussions.

* The Justice Department is probing whether an options trade in Activision Blizzard Inc. securities violated insider-trading laws as it was carried out after Activision CEO Bobby Kotick met with one of the traders, Dow Jones Newswires reported, citing people familiar with the matter. Separately, the SEC is conducting a civil insider-trading investigation.

* Sens. Elizabeth Warren, D-Mass.; Bernard Sanders, I-Vt.; Sheldon Whitehouse, D-R.I.; and Cory Booker, D–N.J., sent a letter to Federal Trade Commission Chair Lina Khan urging her to closely scrutinize Microsoft's proposed acquisition of Activision and its impact on workers. The senators said the pending deal could undermine worker-led demands for accountability over alleged sexual misconduct and discrimination at Activision.

* Sony Group Corp.'s PlayStation division made more than 90 job cuts in its North American offices, Axios reported, citing an affected worker and company documents. The layoffs affected retail marketing positions and the company's merchandiser team in the U.S., which is being shut down.

* Apple Inc. launched Apple Business Essentials for small businesses in the U.S. The new service offers device management, 24/7 Apple support and iCloud storage in flexible subscription plans, with all users getting a two-month free trial.

TELECOMMUNICATIONS

* Comcast Corp. agreed to purchase 250 MW of solar power from Constellation Energy Corp. to energize about 12% of the internet service and cable television provider's U.S. operations. Comcast said sourcing renewable energy is critical to meeting its goal of becoming carbon-neutral by 2035 across its global operations.

* Charter Communications Inc. launched a new high-speed, low-cost broadband service called Spectrum Internet 100 across its 41-state service area. The service provides 100 Mbps download speeds for just $29.99 per month and is exclusively available to households eligible for the Federal Communications Commission's Affordable Connectivity Program.

FILM AND TV

* World Wrestling Entertainment Inc. is producing two scripted TV series, Spanish-language comedy "Contra Las Cuerdas" and mogul-family drama "Pinned," as the company aims to reach new audiences and expand relationships with media companies, The Wall Street Journal reported, citing Colin Campbell, WWE's vice president of development.

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