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Daily Mail parent company eyeing Yahoo bid; CEO takes leave for medical reasons


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Daily Mail parent company eyeing Yahoo bid; CEO takes leave for medical reasons


* The Daily Mail (U.K.)'s parent company,Daily Mail and General Trust plc, is engaged in talks with six private equityfirms about funding a potential takeover bid for , MarketWatch reports,citing sources with knowledge of the details. If submitted, the possible bidcould either require a private-equity partner to buy the entirety of Yahoo'score business, with the Daily Mailtaking over the news and media properties, or the PE firm would acquire Yahoo'score Web business and merge its media and news properties with the Mail's online operations. These assetsreportedly include verticals such as Yahoo Finance and Yahoo Sports, along withYahoo News and a video operation. According to the report, Daily Mail andGeneral Trust is one of nearly 40 companies interested in acquiring the Internet company.

* Inmore Yahoo news, the company postponed the deadline for interested parties to submitpreliminary bids for its core Web business and Asian assets to April 18 fromApril 11, Re/code reports,citing "sources close to the situation."

*Patrick Byrne, founder and CEO of Inc., is taking a personal leave ofabsence for medical reasons. Byrne recommended Mitch Edwards to be the actingCEO of the company. Edwards recently served as general counsel,according to an official newsrelease. It is unknown if Byrne will return to work.

Internet & OTT

*T-Mobile US Inc.shuttered its MobileMoney service that it launched in January 2014, Re/code reports.The mobile payments service reportedly allowed customers to use a mobile app topay bills and deposit checks. The U.S. carrier also offered a prepaid card thatcould be reloaded at a T-Mobile store or for a fee at other retail outlets.Customers will be able to load their cards until June 27, until July 27 to drawdown prepaid card balances, according to the report.

*The U.S. Court of Appeals for the Fifth Circuit vacated a preliminaryinjunction issued bya federal court prohibiting Mississippi Attorney General Jim Hood III frombringing a civil or criminal charge against Alphabet Inc.'s GoogleInc. In 2015, Google filed a case at the district court tochallenge a subpoena by the attorney general alleging violation of Mississippilaws by allowing other parties to carry out illegal activities on its websites.According to a court filing, the appeals court concluded that the districtcourt erred in granting injunctive relief to Google because neither theissuance of the non-self-executing administrative subpoena nor the possibilityof some future enforcement action created an imminent threat of irreparableinjury ripe for adjudication. The appeals court ordered the case to be remandedwith instructions to dismiss.

*EBay Inc. islaunching an internalanalysis of gender pay equity. The company is conducting the analysis and willfix an issue if it finds one, eBay CEO Devin Wenig said in an SEC . The announcement comesweeks after Arjuna Capital, a unit of investment firm Baldwin Brothers Inc.,submitted a proposalto eBay and other technology companies to allow shareholders a vote on genderequality. Wenig said in the filing that the company opposed the proposal andreasoned that if the company has a gender pay equity issue, the company wouldaddress it on its own terms.


*Gannett Co Inc. onApril 8 closed itsacquisition ofJournal Media GroupInc. The transaction includes Journal Media Group's 15 dailynewspapers and affiliated digital assets. Following this acquisition, Gannettwill operate USA Today and 107dailies in 34 states and Guam, in addition to Newsquest in the U.K., with its150 local digital and print news brands, according to a company . Gannett inOctober 2015 signed an agreement to acquire Journal Media for about $280million, net of acquired cash. Journal Media Group shareholders will receive$12 per share in cash. The closing of the transaction follows the receipt ofall necessary regulatory approvals and approval of the transaction by JournalMedia Group shareholders. Journal Media Group common stock will cease tradingafter the close of market April 8 and will no longer be listed on the NYSE.

Film & TV Programming

*Universal's "The Boss" pulled in $23.5 million to top the domesticbox office for the April 10 weekend, according to comScore Inc. Warner Bros.' "Batman V Superman:Dawn Of Justice" was No. 2 with $23.4 million, followed by 's"Zootopia" at No. 3 with $14.4 million. Universal's "My Big FatGreek Wedding 2" was No. 4 with $6.4 million, and STX Entertainment's"Hardcore Henry" was No. 5 with $5.1 million.

The day ahead

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

InAsia, the Hang Seng rose 0.35% to 20,440.81, while the Nikkei 225 declined0.44% to 15,751.13. In Europe, around midday, the FTSE 100 was up 0.10% to6,210.78; the Euronext 100 increased 0.68% to 854.67.

On the macro front

Nonotable reports are due out today.

Featured news

The Daily DoseEurope: Vivendi inks deal with Mediaset; Daily Mail parent eyeingYahoo: VivendiSA entered into an agreement with to create aninternational over-the-top television delivery platform, while Daily Mail andGeneral Trust is negotiating with several private equity firms regarding apotential acquisition of Yahoo.

MarketWeek:Media stocks dive deeper than broad sell-off: Several media stocksfelt the broad market drag and shed large amounts of market cap during thetrading week ending April 8.

Best of SNL:Media & Comm, editor's picks: Take a look at the media andcommunications editor's top five picks for the week ended April 8.

CAPITALLetters: Why 'American Idol' was so important: Last night was asclose to an Irish wake as TV can get, as viewers bid farewell to "AmericanIdol." But the show's impact will live on.

Best of SNL:Media & Comm, most read: SNL Kagan presents the five most readmedia and communications articles for the week ended April 8.

ConferenceChatter: Upfront and Personal: Hallmark extends themed programming into 'SummerNights': Crown MediaHoldings Inc.'s CEO believes Hallmark Channel (US) and Hallmark Movies & Mysteries (US) are poisedfor upfront market growth, as the networks continue to deliver ratingsincreases and expand their original productions.