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YouTube to unveil new music service; Lachlan Murdoch to lead new Fox

Top news

* Google Inc.'s YouTube on May 22 will debut a revamped music-streaming platform. YouTube Music, which will include new features, will offer an ad-free experience for $9.99 a month, according to an official blog post. Also, the YouTube Red subscription service will now be called YouTube Premium and will cost $11.99 for all new members.

* 21st Century Fox Inc.'s Executive Chairman Lachlan Murdoch will serve as chairman and CEO at the new "Fox" company that will be created after the company's proposed transaction with Walt Disney Co. receives shareholder and regulatory approval. Also, Rupert Murdoch will serve as co-chairman of the newly created entity, alongside Lachlan Murdoch; and 21st Century Fox CFO John Nallen will take a broader role as new Fox's COO, the company said.

* Facebook Inc. founder and CEO Mark Zuckerberg has accepted the European Parliament's invitation to "clarify issues related to the use of personal data," Antonio Tajani, president of the European Parliament, said in a statement. Zuckerberg will "meet the leaders of the political groups and the Chair and the Rapporteur of the Committee for Civil Liberties, Justice and Home Affairs (LIBE)" in Brussels "as soon as possible, hopefully already next week," he said.

* A judge at the Delaware Court of Chancery has halted the legal battle between CBS Corp. and National Amusements Inc. that revolves around the Redstone family's control over the media company, Variety reports. Chancellor Andre Bouchard will issue a ruling May 17 on CBS' lawsuit against National Amusements and company President Shari Redstone before a special meeting of the media company's board. The judge also granted a restraining order that will temporarily freeze the case in place until then.

Technology

* Apple Inc. considered setting up a campus in Northern Virginia for 20,000 employees, The Washington Post reports, citing officials and real estate executives with knowledge of the matter. The tech giant is reportedly seeking 4 million square feet of office space.

* As the White House considers easing its position on China's ZTE Corp., lawmakers weighed different options for ensuring the security of U.S. telecommunications networks, especially when it comes to the deployment of next-generation 5G service. At a May 16 hearing, the House Subcommittee on Communications and Technology debated options for promoting competition in both the U.S. wireline and wireless markets while also protecting the network infrastructure, especially in rural areas, from national security threats.

* Businesses in Hong Kong have yet to perfect the balance between cloud and artificial intelligence adoption versus risk control implementation, as the hype surrounding the new technologies reaches fever pitch in the city-state. Speaking at the annual Cloud Expo Asia on May 16 in Hong Kong, industry professionals discussed the breakneck growth of artificial intelligence, big data and cloud applications in various industries, including healthcare, finance and telecommunications.

Internet & OTT

* Netflix Inc. acquired rights to the "Lost Girls" movie. Starring Amy Ryan, the true-crime story that is based on Robert Kolker's book of the same name, the company said.

TV Networks

* Keeping three nights intact, ABC (US) added a couple sitcoms to its already comedy-centric lineup and a pair of dramas that will cap two of the evenings on its upcoming fall programming schedule. Channing Dungey, president of ABC Entertainment, walked media buyers through those and other changes for ABC and cable network Freeform (US) during an upfront presentation on the afternoon of May 15.

* EPIX (US) placed a straight-to-series order for "Pennyworth," a DC origin story that follows Bruce Wayne's butler, Alfred Pennyworth, a former British SAS soldier who forms a security company and goes to work with Thomas Wayne, Bruce's billionaire father, in 1960's London. The 10-episode series is set to premiere in 2019, according to a news release.

* Director Ridley Scott will develop a new sci-fi drama series for TNT (US), Multichannel News reports, citing the network's upfront presentation. Titled "Ridley Scott Presents," the series will feature a collection of sci-fi series from Scott.

The day ahead

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

In Asia, the Hang Seng fell 0.54% to 30,942.15, and the Nikkei 225 rose 0.53% to 22,838.37.

In Europe, as of midday, the FTSE 100 was up 0.17% to 7,747.06, and the Euronext 100 was up 0.36% to 1,077.41.

On the macro front

The jobless claims report, the Philadelphia fed business outlook survey, the E-Commerce retail sales report, the leading indicators report, the EIA natural gas report, the fed balance sheet and the money supply report are due out today.

Featured news

The Daily Dose Europe: Zuckerberg to meet with EU policymakers; Iliad nears Italian launch: Facebook founder, Chairman and CEO Mark Zuckerberg accepted the European Parliament's invitation to clarify issues on personal data use, while French operator Iliad is planning to launch its mobile business in Italy by late June.

The Daily Dose Asia-Pacific: Facebook sues South Korean regulator; Vodafone NZ to fully acquire Farmside: Facebook filed a lawsuit against the Korea Communications Commission for fining the company in March, while Vodafone New Zealand Ltd. is set to gain full ownership of a rural broadband and satellite operator.

Update: Analysts say CBS suit against National Amusements faces 'uphill battle': In a fight to control the future of the company, CBS is taking its controlling shareholder, National Amusements, to court on May 16. But experts say the move is a risky one.

Tech Time: Google launches IoT platform; Deutsche Telekom initiates 5G rollout: Alphabet Inc. unit Google released version 1.0 of its internet of things platform named Android Things, while Deutsche Telekom AG initiated the rollout of the 5G standard in Germany using equipment from Huawei Technologies Co. Ltd.

Trump pushes to help sanctioned ZTE; Samsung in hot water over structure: U.S. President Donald Trump is pushing to revisit penalties imposed on ZTE, while Samsung Group faced new regulatory pressure as South Korea's antitrust chief called the company's ownership structure unsustainable.

Featured research

Multichannel Trends: Q1'18 top cable MSO table: video, HSD, voice subscribers: Kagan's first-quarter 2018 top cable MSO table is now live.

Recent earnings

Mobile games, social networks fuel Tencent's 61% YOY Q1'18 profit gain: Shenzhen-based Tencent Holdings Ltd. beat analyst estimates with a 61% profit gain for the quarter ended March 31, primarily driven by its strong mobile gaming and social networks businesses.

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