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Apple TV+ nears launch; Disney+ plots expansion; tech giants face probe

Top News

* Apple Inc. is eyeing a November launch for its streaming platform Apple TV+, Bloomberg News reports. The company is reportedly considering a monthly subscription fee of $9.99 for the service. Apple is allocating about $6 billion for original content on Apple TV+, London's Financial Times reports, citing sources.

* Walt Disney Co. will launch its direct-to-consumer service Disney+ in Canada and the Netherlands on Nov. 12, the same day it bows in the U.S. The new multiplatform streaming service will launch in Australia and New Zealand a week later, on Nov. 19.

* A group of state attorneys general will initiate a joint antitrust probe of big technology companies as early as next month, The Wall Street Journal reports, citing people familiar with the matter. The investigation will reportedly focus on tech giants such as Facebook Inc., Apple, Amazon.com Inc. and Alphabet Inc.'s Google LLC and whether they stifle competition.

* Viacom Inc. and CBS Corp. revealed more details about their merger. According to an SEC filing, Viacom would pay CBS $373 million if it backs out of the deal before May 13, 2020. CBS would pay Viacom $560 million if it calls off the merger. In addition, only the combined entity's board has the power to fire or modify the duties of Joe Ianniello, who will become CBS' chairman and CEO.

Internet & OTT

* Amazon, Facebook and Google testified against a French digital services tax. The tech giants said the country's policy to tax revenue on certain services for French users unfairly targets large U.S. tech companies and undermines plans by the Organization for Economic Cooperation and Development to develop a common approach to the tax challenges of digitalization.

* U.S. Federal Trade Commission Chairman Joseph Simons said Facebook's plans to integrate WhatsApp Inc. and Instagram Inc. could hamper any attempt to break up the social media giant, London's Financial Times reports. Simons declined to discuss the specifics of the FTC's antitrust probe into Facebook, but said the agency is considering all options.

* YouTube is making its original programming free and ad-supported for all viewers after Sept. 24, TechCrunch reports. YouTube Premium subscribers will be able to watch the content without ads.

* AT&T Inc. launched its live TV service AT&T TV in 10 test markets in California, Kansas, Missouri, Florida and Texas, Deadline reports. AT&T TV, which offers an over-the-top bundle of channels with a cloud DVR service, is expected to be rolled out across the U.S. by year-end.

* Social news aggregator Reddit Inc. is introducing a limited-time feature that will let users create live broadcasts. According to a company post, the feature, dubbed Reddit Public Access Network, would let users vote to determine the top broadcast.

* Netflix Inc. announced its second Danish original series, "The Chestnut Man," which is based on the debut novel by writer Søren Sveistrup. The series will debut exclusively on the streaming service worldwide. The company also began production on an eight-episode lifestyle series, featuring Clea Shearer and Joanna Teplin of home organization company The Home Edit.

* Altice USA Inc. struck a deal to offer CuriosityStream, a subscription video-on-demand service, to all Optimum and Suddenlink customers. The carriage deal will provide Optimum and Suddenlink video and broadband customers with complimentary access to CuriosityStream content.

* Warner Media LLC's upcoming streaming service HBO Max picked up an original comedy with the working title of "Let Them All Talk," according to The Hollywood Reporter. The film, directed by Steven Soderbergh, stars Meryl Streep and Gemma Chan.

Technology

* Microsoft Corp. acquired jClarity, an open-source Java performance tuning tool, for an undisclosed sum. The acquisition of jClarity, a contributor to the AdoptOpenJDK project, is expected to help Microsoft optimize Java workloads on the Azure cloud computing platform.

* Google shuttered Mobile Network Insights, a service that allowed wireless carriers worldwide to see weak spots in their network coverage, Reuters reports, citing sources. The tech giant flagged concerns that the service, which relies on data from Android devices, might attract scrutiny from users and regulators.

* Apple mistakenly reintroduced an iPhone vulnerability for users who updated to the latest iOS 12.4 operating system, Vice Media LLC's Motherboard reports. The bug, which was fixed in a previous iOS update, would make it easier to hack iPhone users and "jailbreak" updated iPhones.

* Affiliates of private equity firm Siris Capital Group LLC agreed to buy TPx Communications, which provides unified communications and cloud-focused managed information technology services, from investors including affiliates of Investcorp and Clarity Partners. The deal is expected to close in the first or second quarter of 2020.

* Private equity firm OpenGate Capital LLC purchased InRule Technology Inc. for an undisclosed sum. InRule provides a decision management platform and business rules management system to enterprise and government customers.

* Austria's AMS AG claims a merger with German lighting firm OSRAM Licht AG will create a powerhouse in sensors and laser technologies, an outcome analysts say could strengthen AMS' existing relationship with Apple.

* Sony Corp. unit Sony Interactive Entertainment Inc. agreed to fully acquire U.S.-based Insomniac Games Inc., the developer of PlayStation games "Marvel's Spider-Man" and the "Ratchet & Clank" franchise. The deal, financial terms of which were not disclosed, is subject to regulatory approvals and other closing conditions.

Programming

* Verizon Communications Inc.'s FiOS TV is shutting down its local news programming in the New York metro area, with nearly 150 jobs at stake, New York Daily News reports. The telco said Regional News Network, which had been supplying the content and talent to FiOS1 News, will not renew its contract and is now slated to end its more than 10-year relationship in November.

The day ahead

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

In Asia, Hang Seng dropped 0.23% to 26,231.54, while the Nikkei 225 gained 0.55% to 20,677.22.

In Europe, around midday, the FTSE 100 climbed 0.43% to 7,220.27, and the Euronext 100 rose 0.07% to 1,045.99.

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 Week in OTT: Charter-Disney deal covers streaming; Netflix orders new series: Charter Communications Inc. and Disney's new distribution deal includes streaming rights, while Netflix continued its content push by ordering new series.

The US Week Ahead: US Trade Representative to probe French digital service tax: Officials from Amazon, Google and Facebook will all testify at a U.S. trade representative hearing about the ways in which they feel the tax will negatively impact them.

The Daily Dose Europe: Disney+ in the Netherlands; Telenor/DNA deal update; tech giants on French tax: Streaming service Disney+ will launch in the Netherlands Nov. 12, Finland approved Telenor ASA's proposed acquisition of DNA, and tech companies such as Facebook, Amazon and Google testified against the French digital services tax.

The Daily Dose Asia-Pacific: Huawei gets reprieve; ASEAN eyes OTT tax; Sony to buy Insomniac Games: Huawei Technologies Co. Ltd. was granted an additional 90 days to buy supplies from U.S. companies, Southeast Asian countries will discuss taxing over-the-top content providers, and Sony agreed to fully acquire Insomniac Games.

M&A Replay: CBS, Viacom agree to merge; Verizon selling Tumblr to WordPress parent: CBS and Viacom announced plans to recombine in an all-stock merger, while Verizon Communications agreed to sell Tumblr Inc. to WordPress owner Automattic Inc.

M&A Replay: Freenet threatens to hamper Sunrise/UPC deal; BC Partners buying Presidio: freenet AG said it will vote against Sunrise Communications Group AG's planned capital increase to fund its acquisition of UPC Schweiz, while BC Partners-backed funds agreed to buy North American IT solutions company Presidio Inc.

Data Dispatch: Soros buys stakes in Alphabet, eBay, Symantec in Q2'19: Another notable second-quarter initiation was Slack Technologies Inc.

Featured research

Economics of TV & Film: KBOX Week 32: Summer box office dips back into the red: Weekly box office hit a speed bump in week 32 after three weeks of growth, dipping 6.9% from $224.2 million in 2018 to $208.8 million in 2019.

Wireless Investor: Telecom Egypt's network preferred by competitors, raises $700 million: Fixed-line incumbent Telecom Egypt Co. SAE launched its mobile operations in 2017 and was the only one of the four Egyptian operators that grew its mobile subscriber base year over year as the country grappled with a sluggish economy.

Economics of TV & Film: 'Avengers: Endgame' pegged for $190M in video revenue: The biggest movie of 2019 rolled out in stores across the country on DVD and Blu-ray on Aug. 13 and should end up making $189.9 million in wholesale revenue for Walt Disney.

Global Multichannel: Global markets update — Portugal: Kagan has recently updated Global Multichannel and Broadband analyses for Western Europe country Portugal, as well as analyses for related operators MEO, NOS, Vodafone Portugal and Nowo Communications SA

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