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CBS considers CBS Radio spin-off via IPO; Amazon in talks to buy HERE stake


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CBS considers CBS Radio spin-off via IPO; Amazon in talks to buy HERE stake


*CBS Corp. isconsidering plans to spin off its CBS Radio business via an IPO, reports,citing an internal memo. CBS Radio President Andre Fernandez reportedly said inthe memo that the move would reportedly allow CBS Radio to be a publicly tradedcompany. Fernandez, however, added that CBS is exploring other options,including the possibility of the radio business becoming part of anothercompany. The news comes after CBS Chairman and CEO Les Moonves announced plansto explore a sale orspinoff of its radio division.

* is holding talkswith a consortium of German carmakers comprising AUDI AG, BMW Group and DaimlerAG to acquire a stake in HD digital mapping company HERE, Reuters reports,citing two auto industry sources familiar with the details. As part of apotential agreement, the online retail giant will also provide cloud computingservices to the carmakers, one source reportedly said. Other companiesinterested in buying a stake in HERE reportedly include Ford, a third autoindustry source said. The German consortium bought HERE for €2.5 billion from in 2015.

Internet & OTT

*Netflix Inc. will addnew original series "Home: Adventures With Tip & Oh" fromDreamWorks Animation SKGInc. to its lineup. The first season of the new series will beavailable exclusively to Netflix members in the U.S., Canada, Latin America,the U.K., Australia, New Zealand, Ireland, the Nordics, Benelux and France,starting July 29, according to a news release.

*The government of Egypt blocked access to 's Free Basics program on Dec. 30, 2015, because the socialnetworking giant declined to allow the government to spy on users, Reuters reports,citing two sources with direct knowledge of the talks between Egyptianauthorities and the company. While a spokesman for Egypt's Ministry ofCommunication declined to comment on the surveillance claims, he said thenational telecommunication regulator believed the service to be harmful tocompanies and their rivals as it was being offered for free.

*World Wrestling EntertainmentInc. entered into a multiyear partnership with Snapchat. Under thedeal, Snapchat will cover WWE's "WrestleMania" event on April 3 atAT&T Stadium in Arlington, Texas, via a Live Story, according to a companynews release."WrestleMania" will also air live around the world on WWE Network at7 p.m. ET.

*News website Mashable secured $15 million in a new funding round led byTime Warner Inc.'sTurner unit, Bloomberg News reports.Time Warner's TBS(US) and TNT(US) networks will partner with Mashable to develop video content,new technology and advertising opportunities, according to the report. Fundingraised will go to expanding Mashable's video offerings and enhance advertisingcapabilities. Kevin Reilly, president of TBS and TNT and Turner Entertainmentchief creative officer, will also join Mashable's board.


* Asexpected, the FCCadopted a notice of proposed rulemaking that proposes to establish privacyguidelines for broadband Internet service providers. The proposal has beendesigned to ensure broadband customers have meaningful choice, greatertransparency and strong security protections for their personal informationcollected by the ISPs, the agency said in a news release. The scope of the NPRM is limited tobroadband service providers. The proposed rules do not apply to the privacypractices of websites and other "edge services" over which the U.S.Federal Trade Commission has authority. Additionally, the proposed rules do notcover other services of a broadband provider, such as the operation of a socialmedia site, or issues such as government surveillance, encryption or lawenforcement.

Film & TV Programming

*Walt Disney Co. isworking on a live-action movie that is based on Snow White's sister, Variety reports,citing sources. The movie, called "Rose Red," will reportedly be thesecond installment of its first fully animated feature film, "Snow Whiteand the Seven Dwarfs." Tara Farney is executive producing, while JustinMerz and Adam Rodin are co-producers on the project.

The day ahead

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

InAsia, the Hang Seng dropped 1.34% to 20,498.92, and the Nikkei 225 fell 3.55%to 16,164.16.

InEurope, as of midday, the FTSE 100 was down 1.23% to 6,098.76, and the Euronext100 had fallen 1.91% to 847.86.

On the macro front

Theconstruction spending report, the PMI and ISM manufacturing indices and theconsumer sentiment report are due out today.

Featured news

The Daily DoseEurope: Hutchison in talks to buy Telenor's VimpelCom stake; Netflix orders 1stSpanish series: Hong Kong's CK Hutchison is in talks to acquireTelenor ASA's stakein Russian telco VimpelCom, while Netflix commissioned its first original seriesfilmed entirely in Spain.

TheCommunicator: Analysts: Netflix throttling is a 'tempest in ateapot': The news that Netflix was reducing quality on certainmobile streams was met with protests from many industry participants, butanalysts told SNL Kagan that there will not likely be any long-term effects.

Hires andFires: Media & Comm management moves through March 30: SNLKagan presents a weekly rundown of executive changes in the media and communicationsindustries.

Rumor Mill:Sony preps console refresh for 4K, VR: A source told SNL Kagan thatSony Corp. isprepping a more powerful version of its PlayStation 4 console to support 4KUltra HD gaming and video. Analysts weigh in on its prospects.

EuropeanRegulatory Spotlight: EU antitrust regulators quiz Hollywood studios andSky: In this bi-weekly feature, SNL Kagan provides a roundup ofsignificant recent regulatory events in Europe.

Featured research

BroadcastInvestor: Broadcast Investor: Table of contents for issue #607,March 2016.

Economics ofInternet: Surging Facebook propels social ad revenues to new highs in2015: Social ad revenues generated by Facebook Inc., and continued to soarin 2015, with their strong mobile presences the primary growth driver.

BroadcastInvestor: Broadcast public trading multiples: TV, radio stocks underperform inbroader market March rebound: Broadcast stock prices on average inMarch have been facing headwinds despite potential sale or spinoffannouncements from Tribune MediaCo. and CBS along with the start of the FCC Incentive Auction,which could fill the coffers of some major TV station group owners.

Economics ofInternet: UK leads Netflix's international march: Netflix is makingstrong imprints in territories around the world, reaching some 27.4 millionsubs outside the U.S. at the end of 2015.

Economics ofAdvertising: CBS leads domestic broadcasters in February Nielsenratings: CBS(US) and ABC (US)rang up the biggest ratings in February with flagship events like the SuperBowl, Grammys and Oscars. Presidential debates with Donald Trump were an extradraw.