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Facebook unveils Watch; Charter's high price could be 'comfortable' for Altice

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Episode 36: Guy Kawasaki on Innovation


Facebook unveils Watch; Charter's high price could be 'comfortable' for Altice

Top News

* Facebook Inc. unveiled a new platform, Watch, to host episodes of live or recorded shows under various categories. According to a post on the company's website, the new video platform will initially be available to a limited number of people in the U.S. before being rolled out.

* Moody's senior vice president Mark Stodden noted in an interview with S&P Global Market Intelligence that Altice NV is "very comfortable taking leverage up to astronomical levels" for the right deal. Reuters recently reported that the European telecom giant is considering a bid to acquire Charter Communications Inc. Altice is reportedly lining up banks to fund a potential cash-and-stock offer for Charter.

* Failure is not only an acceptable option at some of media tech's biggest players, it's a well-worn pathway to success, blogger Bishop Cheen writes in his new post. Although dozens of leading media and communications companies support experimentation, Cheen singled out four large tech firms for their long-term commitment and cultural embrace of failure as a road to success.

Internet & OTT

* Sports media analysts view Walt Disney Co.'s decision to put a broad-based, ESPN (US)-branded streaming service into play early in 2018 as both a defensive and offensive gambit. The launch of the direct-to-consumer service, which had been expected later this year, comes as ESPN, once the crown jewel of Disney's vast portfolio, continues to shed subscribers, partly due to consumers migrating from the traditional programming bundle to over-the-top offerings and skinny bundles.

* Hulu LLC green-lighted a series based on the life of RuPaul, Deadline.com reports. The half-hour show is set in New York City during the 1980s.

Technology

* Microsoft Corp. and Kaspersky Lab reached an agreement to resolve an antitrust dispute between the companies, Bloomberg News reports, citing an official blog post. As a result, the software giant will make changes in the next Windows 10 update to give greater visibility to antivirus partners and to let them use their own alerts and notifications.

* Chinese app developers filed a complaint against Apple Inc., alleging anticompetitive behavior in China, London's Financial Times reports. The developers accused the tech giant of unfair business practices, such as removing their apps from the App Store without "good reason and imposing high fees for in-app purchases."

* Investors, including Tencent Holdings Ltd. and Amazon.com Inc.'s Alexa Fund, backed smartphone manufacturing startup Essential Products Inc. with a $300 million funding round, The Wall Street Journal reports. The startup was set up by the creator of Google Inc.'s Android mobile software, Andy Rubin.

Film & TV

* The trend for customer erosion is being bucked by 21st Century Fox Inc. On an earnings call, the company highlighted its strengths with news and sports programming, as these categories, the least likely to be watched on a delayed basis, combine to generate more than half of its advertising revenues.

* Walt Disney Co. reached a nearly $177 million agreement to resolve meat processor Beef Products Inc.'s defamation lawsuit against ABC (US), Reuters reports. In 2012, Beef Products sued ABC and others over reports referring to the company's "lean, finely textured" beef product as "pink slime." Beef Products confirmed the settlement.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng fell 1.13% to 27,444.00, while the Nikkei 225 was down 0.05% to 19,729.74.

In Europe, around midday, the FTSE 100 was down 1.15% to 7,411.83, and the Euronext 100 fell 0.43% to 999.12.

On the macro front

The jobless claims report, the PPI-FD report, the EIA Natural Gas report, the Treasury budget report, the Fed balance sheet and the money supply report are due out today.

Featured news

The Daily Dose Asia-Pacific: Apple hit with antitrust complaint in China; SoftBank injects $1.1B into biotech: Chinese app developers have filed an antitrust complaint against Apple for allegedly abusing its control over the iOS App Store, while SoftBank Group Corp. is leading a US$1.1 billion investment in a Switzerland-based biotech startup.

MTG completes Kongregate deal; Spotify, Warner Music near deal: In this monthly Best of Nordics feature, S&P Global Market Intelligence provides a roundup of recent market developments in Denmark, Sweden, Norway, Finland and Iceland.

The Daily Dose Europe: Altice mulls Charter bid; UK's Three confirms spectrum auction challenge: Altice and its Altice USA Inc. unit are weighing a takeover offer for Charter Communications, while British operator Hutchison 3G UK Holdings Ltd confirmed plans to seek a judicial review of the country's upcoming spectrum auction.

Featured research

Economics of TV & Film: Warner Bros. theatrical product has healthy growth in H1'17: The positive results for Warner Bros. continued into the second quarter thanks to 17.5% growth in the theatrical product revenues to nearly $2.73 billion for the first half.

Economics of TV & Film: Kagan Box Office Report – Week 32: The largest weekly decline of the box office year happened in week 32 and was the final nail in the coffin for the growth in total box office that had been built up in the spring season.

Economics of TV & Film: Viacom's filmed entertainment revenue up 36.5% in H1'17: In Viacom Inc.'s financial results for the quarter ended June 30, the company reported that its filmed entertainment segment posted positive operating income after six consecutive quarters with an operating loss.

Economics of Networks: CBS building low-cost sports service with existing rights, infrastructure: CBS Corp. reported robust second-quarter earnings and said it was building a new sports streaming service.

Global Multichannel: Global markets update – North America and Chile: Kagan has published updated Global Multichannel & Broadband analysis for a regional summary and one market.

Economics of Internet: State of UK online video: subscription: Five years after its release in the U.K., Netflix Inc. is still the leading subscription online video service in the region despite fierce competition from Amazon's Prime Video and Sky plc's NOW TV.

The Daily Dose is updated as of 7 a.m. ET. Some external links may require a subscription.