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CBS, National Amusements in talks to settle; Tribune up for sale again


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EP 21 - Expectations for the Summer Games: Streaming, Ad Spending, Swimming in the Seine

CBS, National Amusements in talks to settle; Tribune up for sale again

Top News

* CBS Corp. majority shareholder National Amusements Inc., led by Shari Redstone, is considering tabling its push for the broadcaster to recombine with Viacom Inc. in exchange for CBS dropping an attempt to dilute its stake in the company, The Wall Street Journal reports, citing people familiar with the matter. A settlement may also include a board shake-up at CBS, the Journal reports, though it remained unclear what the implications could be for embattled CBS CEO Leslie Moonves, who is under investigation amid allegations of sexual harassment.

* Tribune Media Co. is starting a new round of discussions for its sale not long after it terminated its merger agreement with Sinclair Broadcast Group Inc. in August, people familiar with the matter told Reuters. According to the sources, the U.S. TV station owner is working with financial advisers Moelis & Co. and Guggenheim Securities LLC to field interest from potential buyers, such as rival Nexstar Media Group Inc. and private equity firms.

* Facebook Inc. COO Sheryl Sandberg said the company would work with Congress to reach "the right regulation" to increase transparency when problematic information was identified, as lawmakers seemed to grapple with what type of regulation that might be. During a Senate Intelligence Committee hearing, Sandberg and Twitter Inc. CEO Jack Dorsey both acknowledged that their companies did not do enough to prevent foreign-backed misinformation campaigns on their platforms during the 2016 U.S. election season.

* Hollywood studios and theater chains are looking at digital content just as tech companies are wading into the traditional film business. This is the second article in a two-part series about the future of film.

TV Networks

* Walt Disney Co., after years of having ABC (US), its kids and entertainment-oriented cable networks and ESPN (US) as separate units, is uniting its advertising sales efforts. Rita Ferro, who had been serving as president, Disney/ABC advertising sales and marketing since 2017, will lead the effort, according to a news release. Now as president of Disney advertising sales, Ferro will also head ad sales for ESPN Inc.'s myriad properties as Ed Erhardt, who has led the sports programmer's sales for 20 years, is retiring and will step down from his role early next year.

* AT&T Inc.'s WarnerMedia on Sept. 5 unveiled its new companywide diversity and inclusion policy. WarnerMedia said in a policy statement that it is pledging to use its "best efforts" to make sure that diverse actors and crew members are considered for film, TV and other projects and to work with directors and producers who also seek to promote greater diversity and inclusion in the industry.

* Paramount Pictures Corp.'s Paramount Television named Nicole Clemens president of the company, Deadline reports. Clemens most recently served as a manager and producer at Anonymous Content LLC.


* Uber Technologies Inc. CEO Dara Khosrowshahi said the company does not plan to sell its self-driving car research division, called Advanced Technologies Group, "at this time," Reuters reports, citing an interview with the executive. Khosrowshahi said the unit was a big asset that the company can monetize in whatever way it wants. Also, Khosrowshahi said the company is set to go public in 2019.

* Facebook will invest more than $1 billion to set up its first Asia data center in Singapore, Reuters reports. The 170,000-square-meter facility is reportedly expected to open in 2022.


* Netflix Inc. will premiere a third season of the original series "Designated Survivor" globally in 2019. The political drama starring Kiefer Sutherland will feature 10 episodes, according to a news release.

* In more Netflix news, the streaming company ordered a stand-up comedy special featuring comedian Wanda Sykes. The hour-long special, which will be Sykes' fifth stand-up special and first on Netflix, will launch globally in 2019, the company said.

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.

The day ahead

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

In Asia, Hang Seng fell 0.99% to 26,974.82, while the Nikkei 225 was down 0.41% to 22,487.94.

In Europe, around midday, the FTSE 100 was down 0.22% to 7,367.23, and the Euronext 100 fell 0.15% to 1,031.10.

On the macro front

The ADP Employment report, the jobless claims report, the productivity and costs report, the PMI Services index, the factory orders report, the ISM's non-manufacturing index, the EIA natural gas report, the EIA petroleum status report, the fed balance sheet and the money supply report are due out today.

Featured news

The Daily Dose Europe: EU to force content quota on Netflix; Vivendi, others eye Lagardère Studios: The European Commission is considering enforcing a 30% quota on European content output for streaming providers such as Netflix and Inc., while Vivendi SA, RTL Group and Mediawan SA are considering buying Lagardère SCA unit Lagardère Studios.

The Daily Dose Asia-Pacific: Tencent to invest US$1B in Beijing Homelink; Wanda mulls cutting stake in AMC: Tencent Holdings Ltd. will invest US$1 billion in Beijing Homelink Real Estate Brokerage Co. Ltd., while Chinese conglomerate Dalian Wanda Group Corp. Ltd. is considering reducing its ownership stake in AMC Entertainment Holdings Inc.

Ericsson, Sprint ink global IoT partnership; Nokia secures €500M loan for 5G R&D: Ericsson and Sprint Corp. teamed up for a global internet of things initiative, while Nokia Corp. obtained a €500 million loan to be used for research and development on 5G.

Featured research

Wireless Investor: APT panelists talk harmonization of 700 MHz for mobile in ASEAN: Panelists at the APT Symposium on Spectrum Management in Manila highlighted how harmonization efforts for the 700 MHz band in ASEAN can be a testing ground for best practices on harmonizing other spectrum bands for 5G.

Economics of Advertising: South Asian international networks post coverage ratings growth in July: South Asians are one of the largest Asian ethnic groups in the U.S., and non-Nielsen-rated international nets that specifically cater to this growing community delivered higher viewership in July, based on data from comScore Inc.'s TV Essentials.

Economics of Advertising: Red Sox lead NESN to 2 of the top 3 regional sports network ratings in July: The red-hot Boston Red Sox helped lead New England Sports Network to two of the top three prime-time ratings spots in July.

Multichannel Trends: See it in charts: US Multichannel, August 2018: View U.S. multichannel trends at a glance in PowerPoint format. Key charts summarize the status of video subscribers, broadband competition, virtual service providers and the financial health of the sector.

Economics of Internet: OTT in Asia-Pacific: Current state of the market: Kagan rounds up the over-the-top services in the Asia-Pacific that have been newly added to our OTT Services & Devices database.

Wireless Investor: Towers by type: Of the 201,789 U.S. towers in our database, the majority are traditional pole style, with rooftop locations ranking second and distributed antenna systems/small cells ranking third.

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