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Libra Association's charter; AMC's online video store; NBA's Chinese suspension


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Libra Association's charter; AMC's online video store; NBA's Chinese suspension

Top news

* Members of the Libra Association, the consortium of Facebook Inc. and other entities responsible for the social media company's cryptocurrency project, formalized the formation of the Libra Association council, which will be in charge of Switzerland-based entity's governance. The 21 members that signed the Libra Association charter during an Oct. 14 meeting in Geneva, also became the initial members of the council.

* AMC Entertainment Holdings Inc. is set to launch an online video store in the U.S. on Oct. 15, The New York Times reports, citing a statement by the company's President and CEO Adam Aron. The service, called AMC Theaters On Demand, will offer about 2,000 films for about $3 to $5.99 on rent and $9.99 to $19.99 on sale.

* Tencent Holdings Ltd., the primary media partner of the National Basketball Association Inc. in China, lifted its broadcast suspension of NBA preseason games and resumed livestreaming the games on its sports website, TechNode reports. Tencent earlier suspended NBA broadcasts after a Houston Rockets executive expressed support for the Hong Kong protests in a tweet.

Cable & Broadcasting

* Comcast Corp. moved TCM (US) to its Sports Entertainment add-on package, also known as More Sports & Entertainment in some areas, according to a company post. Comcast cited TCM's low viewership and contractual limitations for not offering the channel a la carte.

* Credible Labs Inc. shareholders "overwhelmingly" approved Fox Corp.'s planned acquisition of a 67% stake in the consumer finance marketplace operator for about $265 million. The deal remains subject to regulatory clearances and other customary closing conditions.

Internet & OTT

* John E. Reid and Associates, a company that trains police departments on interrogations, filed a lawsuit against Netflix Inc. and director Ava DuVernay over docuseries, "When They See Us," according to The Hollywood Reporter. The suit claims that the company was defamed in the final episode of the series, which was about five African-American men who were wrongfully incarcerated for a 1989 sexual assault.

* TikTok, the popular social media video app owned by China-based Beijing Byte Dance Technology Co. Ltd., hired more than two dozen Facebook employees since 2018, reports, citing people with the knowledge of the matter. The company also recently moved into an office space in Mountain View, Calif., which was previously occupied by WhatsApp Inc.

* Hulu LLC introduced 4K content on Microsoft Corp.'s Xbox One, allowing the owners of 4K-capable Xbox One models to play "The Handmaid's Tale" and "Castle Rock" as well as certain Hulu originals at full resolution, reports. Hulu also plans to offer 4K support on Inc.'s Fire TV devices and LG Electronics Inc.'s webOS-based TVs sometime in the future.

* DISH Network Corp.'s streaming service, Sling TV, rolled out a free streaming option for select episodes of "Hell's Kitchen," "Project Runway" and other shows, on Roku Inc. devices, reports. Sling TV is also offering a similar service on Android and Amazon smartphones, tablets and TVs.

* Former ABC Studios Head Patrick Moran inked an "overall deal" with Amazon, Variety reports. Pursuant to the deal, Moran will work with Amazon Studios to develop television series to premiere exclusively on Prime Video.


* Meredith Corp. is partnering with Drew and Jonathan Scott of HGTV (US)'s "Property Brothers" on a new lifestyle magazine. The magazine will debut nationwide in January 2020 with a cover price of $9.99. Meredith and the Scott brothers plan to announce the title and tagline for the magazine in the coming weeks.

The day ahead

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

In Asia, the Hang Seng fell 0.07% to 26,503.93, and the Nikkei 225 lifted 1.87% to 22,207.21.

In Europe, around midday, the FTSE 100 fell 0.30% to 7,191.84, and the Euronext 100 was up 0.50% to 1,095.97.

On the macro front

The Redbook Index for retail sales is due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

Featured news

The Daily Dose Europe: Amazon's content expansion; KKR, Hyperoptic deal; Huawei in Germany: Amazon plans to expand its original content push into various European markets; investment firm KKR & Co. acquired a majority stake in broadband operator Hyperoptic Ltd; and Germany will not ban Huawei Technologies Co. Ltd. from the country's 5G buildout.

The Daily Dose Asia-Pacific: Hong Kong's 5G spectrum auction; 5G gear in India; Nine/Macquarie deal update: Hong Kong auctioned off a total of 200 MHz of spectrum in the 3.5 GHz band to four telecom operators, Ericsson and Huawei plan to produce 5G gear in India, and Nine Entertainment Co. Holdings Ltd. is set to complete its takeover of Macquarie Media Ltd.

Q&A: Sports betting advertising now 'material' revenue stream for several NBC RSNs: NBC Sports Regional Networks President David Preschlack said that the programmer's national sports predictive games are building momentum among casual bettors.

M&A Replay: VMware closes Carbon Black buy; AT&T to sell Puerto Rico, Virgin Islands assets: AT&T Inc. agreed to sell its wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands for $1.95 billion in cash. VMware Inc. completed its acquisition of security solutions provider Carbon Black Inc. for an enterprise value of $2.1 billion.

The Week in OTT: Apple's in-house studio; Hulu's download feature: Apple Inc. created its own in-house studio and Hulu became the latest streaming service to add download feature to its platform.

M&A Replay: Cellnex buying Arqiva's telecom unit; Thoma Bravo to acquire cybersecurity firm: Cellnex Telecom SA agreed to purchase the telecom division of towers operator Arqiva Group Ltd., while private equity firm Thoma Bravo LLC will acquire U.K.-based cybersecurity company Sophos Group PLC.

Featured research

Economics of Internet: Global Video, OTT Index: Kagan provides links to its video provider operational tracking and programming spreadsheets, video-on-demand and over-the-top library data and analysis, and over-the-top company and country reports.

Global Multichannel: Asia-Pacific telco, TV incumbents strength in streaming multichannel innovation: As over-the-top continues to transform the way content is consumed among Asian viewers, incumbent telcos and multichannel operators in the Asia-Pacific region have also proactively pursued business innovation with streaming video.

Technology: Broadband CPE flat YOY, despite Q2'19 fiber growth: Second-quarter 2019 broadband customer premises equipment revenues dropped 8.3% sequentially, but were effectively flat at $2.21 billion on a year-over-year basis.

Economics of Internet: Twitch growth slows as esports explode: The world of esports has notched several watershed moments so far in 2019 amid surging popular interest and mainstream coverage.

Economics of Internet: See it in charts: US, international OTT, September 2019: View U.S. and international over-the-top video trends at a glance in PowerPoint format. Key charts summarize the status of subscription video, ad-supported video, video advertising and other top sector trends.

Multichannel Trends: See it in charts: US multichannel, September 2019: View Kagan's monthly U.S. multichannel research in PowerPoint.

The Best Of: Kagan research and analysis, editor's picks: Presenting the editor's top picks from Kagan's exclusive research and analysis for the week ended Oct. 11.

The Daily Dose has an editorial deadline of 7:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.