Top news
* U.S. social media giants are set to testify before a U.S. Senate panel on violent, extremist online content, Reuters reports. Alphabet Inc.'s Google LLC, Facebook Inc. and Twitter Inc. will partake in a Sept. 18 hearing of the Senate Commerce Committee that will "examine the proliferation of extremism online and explore the effectiveness of industry efforts to remove violent content from online platforms."
* Viacom Inc. emerged as the front-runner to acquire a stake in Miramax LLC from Qatar Media Corp.-owned beIN Media Group LLC in a deal that could reach at least $100 million, Bloomberg News reports, citing sources. Meanwhile, Lions Gate Entertainment Corp. reportedly withdrew from the bidding process and will focus on its core business instead.
* Apple Inc. reclaimed its status as a trillion-dollar company a day after releasing its latest products, including the iPhone 11, CNBC reports. On Sept. 11, the company's stock closed at $223.59 to give it a market capitalization of $1.01 trillion. Apple previously hit a $1 trillion market cap in August 2018.
* Asked about the pending entry of DISH Network Corp. as a U.S. wireless operator, AT&T Inc. and Verizon Communications Inc. executives questioned whether the satellite TV operator would be ready to launch competitive next-generation wireless services.
* Spotify Technology SA acquired audio production marketplace SoundBetter LLC for an undisclosed sum. Following the deal, SoundBetter will join the Spotify for Artists team as part of the music-streaming platform's goal to help creators develop audio content and connect with their audiences.
* Netflix Inc. entered in a partnership with India-based Dharmatic Entertainment Pvt. Ltd. to work on a number of new fiction and nonfiction series and films for Netflix members. Karan Johar, who owns Dharmatic Entertainment, said the partnership will help create universal stories from India for the world to discover.
* In other Netflix news, the streaming giant announced Polish original series, "The Woods," an adaptation of Harlan Coben's bestselling thriller of the same name. The six-part mystery series is directed by Leszek Dawid and Bartosz Konopka and was written by Agata Malesińska and Wojtek Miłoszewski, while ATM Grupa is in charge of production.
* Google will shut down its Google Express online shopping service in the coming weeks, TechCrunch reports. Google Express' features will be merged into a revamped version of Google Shopping.
Technology
* Nintendo of America Inc. filed a lawsuit Sept. 10 against the owner of ROM website, RomUniverse, over allegations of mass-scale copyright infringement, Polygon reports. The company is seeking $150,000 for each copyright infringement and up to $2 million for each trademark infringement. RomUniverse reportedly offers memberships to its website, priced at $30 per year, allowing users to download "an unlimited number of pirated games."
* Oracle Corp. CEO Mark Hurd will take a leave of absence for health-related reasons, the computer software company said Sept. 11. The company did not provide further details on Hurd's health condition.
* Comcast Corp. is closing its Fort Collins, Colo.-based call center in December, a move that could affect as many as 237 employees, Multichannel News reports. The move came days after Fort Collins launched Connexion, a new municipal broadband service. A Comcast representative clarified that the move to close the call center is not linked with the city's broadband project.
* DXC Technology Co. appointed Mike Salvino president and CEO of the company. Salvino, who is on DXC's board, succeeded Mike Lawrie, who retired as president and CEO of the company.
Programming
* Viacom and CBS Corp. expect the rise of direct-to-consumer offerings to result in more licensing opportunities and revenue when their companies recombine. Jim Gianopulos, chairman and CEO of Viacom's Paramount unit, noted that with competitors such as Walt Disney Co., WarnerMedia and NBCUniversal Media LLC pulling some of their own content behind the walls of their DTC services, they likely will forgo licensing to third parties, which will open up more doors for CBS Television Studios and Paramount Television.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng dropped 0.26% to 27,087.63, and the Nikkei 225 rose 0.75% to 21,759.61.
In Europe, around midday, the FTSE 100 was up 0.02% to 7,339.28, and the Euronext 100 climbed 0.13% to 1,087.33.
On the macro front
The consumer price index, the jobless claims report, the EIA natural gas report, the treasury budget report, the Fed balance sheet and the money supply report are 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 Asia-Pacific: Huawei's onshore bonds; Yahoo Japan/ZOZO deal; new revenue source for HUYA: Huawei plans to issue two tranches of bonds worth 3 billion yuan each, Yahoo Japan is acquiring local online fashion retailer ZOZO Inc., and a stake in the esports unit of Modern Times Group could open another source of revenue for HUYA.
The Daily Dose Europe: IPhone 11 prices in UK; Facebook's Libra on Swiss license; TeamViewer's IPO: Apple's iPhone 11 Pro and 11 Pro Max will be released in the U.K. next week, Facebook's Libra is looking into acquiring a license in Switzerland, and TeamViewer set its IPO price range.
Netflix boosts Korean content slate; China's HUYA buys stake in MTG unit: Netflix unveiled more than 10 new South Korean originals, while Chinese live streaming platform HUYA struck a binding term sheet with Modern Times Group to acquire a minority stake in the latter's esports business.
Hires and Fires: NTN Buzztime names new board chairman; Cloudflare adds 2 board members: NTN Buzztime named director Gregg Thomas its new chairman as part of a board revamp, while Cloudflare added two new members to the company's board.
La Liga in UK, Ireland; Facebook Watch's European strategy; Pluto TV on Apple TV: Premier Sports acquired rights to stream La Liga matches in the U.K. and Ireland, Facebook teamed up with European publishers for Watch content, and Pluto TV is available on Apple TV in the U.K., Germany and Austria.
Analysts: HUYA's stake in MTG esports unit provides alternate revenue stream: Analysts say HUYA's recent joint venture and minority stake purchase in MTG's esports unit will create another revenue stream for its livestreaming business in China.
5G Focus: Huawei, Samsung 5G chips; rollout in Germany; tie-ups in South Korea: 5G Focus is a weekly global roundup of notable 5G trials, launches, use cases and major equipment supply contracts. It also features in-depth analysis of strategies, expansion plans, business models and other related initiatives.
Jack Ma's vision to continue to shape Alibaba despite retirement: Jack Ma stepped down Sept. 10 as executive chairman of the e-commerce company he founded, but his successor Daniel Zhang is expected to maintain a similar strategy.
Featured research
Economics of TV & Film: FX networks' future entwined with Hulu: With the FX networks firmly part of Disney's content plans for Hulu, Kagan analyzes the recent programming expenses for FX (US), FXX (US) and FXM (US).
Broadcast Investor: Analyzing financials behind Disney/AT&T potential deal or disruption: The potential loss of millions in monthly retrans and ad revenue for the TV broadcaster and the possibility of subscriber loss could be catalysts for Disney and AT&T to avoid a signal disruption.
Economics of Internet: YouTube momentum in US slows: U.S. viewing gains for YouTube slowed in 2019, but the video juggernaut continues to rack up eye-popping totals.
Technology: North American premium smartphone demand sagged in Q2'19: Apple bested Samsung Electronics Co. Ltd. for the second year in a row while Motorola Solutions Inc. defied the declining market.
Economics of TV & Film: Boxing on FOX PPV headlines packed September lineup: A look at events and movies on pay-per-view and video on demand in September.
Economics of Advertising: CBS delivery drops 20% in prime time: Analysis of the July prime-time household delivery data from Nielsen Holdings PLC, includes program breakouts by broadcast network.
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.
