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In This List

Tencent Music delays planned US IPO; Facebook removes more Pages, accounts

More Than Three-Quarters of Southeast Asia's Broadband Households Still On Speeds Below 100 Mbps

Top 10 VR Games By Revenue

US Operators Bolster Downward Trajectory for US Cable Capex Forecast

Ad agencies struggle to survive second quarter of 2020


Tencent Music delays planned US IPO; Facebook removes more Pages, accounts

Top News

* Tencent Music Entertainment Group is postponing its planned initial public offering due to the recent sell-off in global markets, people familiar with the offering told The Wall Street Journal. According to the sources, the music arm of Chinese tech giant Tencent Holdings Ltd. met with its underwriting team this week to determine the price that the company would set for the IPO, but decided to push back the debut and wait for several weeks instead. The company is reportedly worried that the market turmoil could affect the IPO pricing.

* The U.S. Department of Justice filed a reply brief in the U.S. Court of Appeals for the District of Columbia Circuit on Oct. 11, outlining the reasons the DOJ believes AT&T Inc.'s purchase of Time Warner Inc. should not have been approved. Responding to arguments previously submitted by AT&T in defense of the deal and of the district court judge's decision to uphold the transaction, the Justice Department's antitrust division said AT&T failed to remedy what the government believes were economic and logical errors in the district court ruling.

* Facebook Inc. removed 559 Pages and 251 accounts for consistently breaking the company's rules against spam and for coordinated inauthentic behavior. "Many were using fake accounts or multiple accounts with the same names and posted massive amounts of content across a network of Groups and Pages to drive traffic to their websites," Nathaniel Gleicher, head of cybersecurity policy and Oscar Rodriguez, product manager at Facebook, said in an official blog post.

* Google LLC's delay in disclosing a recent security glitch raised questions likely to draw government scrutiny and could have a lasting impact on the firm's image, analysts and brand experts said. The Alphabet Inc. unit said in an Oct. 8 blog post that it is shutting down its Google+ social network following a disclosure that a bug shared the data of hundreds of thousands of users on the platform. The company said it discovered and fixed the vulnerability in March, but chose not to alert the public at that time.

TV Networks

* Lions Gate Entertainment Corp.'s Starz signed up artist and producer Curtis "50 Cent" Jackson for a four-year, overall deal, Variety reports. Under the agreement, Jackson will continue to develop new scripted and unscripted projects exclusively for Starz through his G-Unit Film & Television Inc. banner.

* Viacom Inc.'s Nickelodeon (US) has struck an exclusive first-look deal with comedian, actor and television personality Kevin Hart. Under the agreement, Hart will develop and produce live-action, scripted kids' content for the network through HartBeat Productions, the company said.

Internet & OTT

* Hulu LLC placed a straight-to-series order for drama series "Wu-Tang: An American Saga." The 10-episode series created and written by Alex Tse and Wu-Tang Clan front man The RZA will give a glimpse into the world of hip-hop group, called the Wu-Tang clan, the company said.

* Netflix Inc. struck a multiyear movie deal with management and production company Sugar23. The deal will allow the streaming giant to get a first look at any feature movie that Sugar23 want to produce, the company said.

* Netflix picked up ice skating drama series "Spinning Out." The series stars Emma Roberts as an up-and-coming, high-level single skater who is about to turn in her skates after a disastrous fall took her off the competition track, the company said.

Publishing

* The Society of Professional Journalists, along with 29 other journalism and press freedom organizations, asked the Saudi Arabia ambassador to the U.S. to investigate the disappearance of journalist Jamal Khashoggi. On Oct. 2, Khashoggi, who was a contributor for The Washington Post, disappeared after visiting the Saudi Arabian consulate in Istanbul.

Regulation

* President Donald Trump signed H.R. 1551, the Music Modernization Act, into law Oct. 11, reforming the U.S. music licensing system. The legislation, which had bipartisan support, included provisions to update copyright law for more streamlined digital music licensing, establishing a system to speed up licensing and payment for copyrighted musical works.

Technology

* Verizon Communications Inc. altered the exit package it offered to about 1,000 U.S. staffers who were moving to outsourcing giant Infosys Ltd., The Wall Street Journal reports. The U.S. carrier, which previously said information-technology workers were not eligible for severance, will now offer severance or guarantee two years of comparable pay at Infosys. The IT staff is moving to Infosys as part of a recently signed $700 million IT outsourcing agreement.

* Facebook is rolling out 3-D photos in News Feed and virtual reality. According to a company post, users can view 3-D photos in VR using the Oculus Browser on Oculus Go or Firefox on Oculus Rift.

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 higher opening for the U.S. market.

In Asia, the Hang Seng climbed 2.12% to 25,801.49, and the Nikkei 225 increased 0.46% to 22,694.66.

In Europe, around midday, the FTSE 100 was up 0.86% to 7,066.94, and the Euronext 100 was up 0.55% to 995.60.

On the macro front

The import and export prices report, the consumer sentiment report and the Baker-Hughes Rig Count report are due out today.

Featured news

The Daily Dose Europe: Banijay eyes joint bid for Endemol; VEON axes plan to buy South Asian assets: Banijay Group SAS is looking to submit a joint bid for Endemol Shine Group Ltd., while VEON canceled plans to acquire Global Telecom Holding SAE's assets in Pakistan and Bangladesh.

The Daily Dose Asia-Pacific: Tencent Music to postpone US IPO; Vodafone Idea moves to recover bank guarantees: Tencent Music is postponing its planned initial public offering due to the sell-off in global markets, while India's Vodafone Idea Ltd. moved the telecom tribunal to recover bank guarantees paid to secure government approval for its recent merger.

Featured research

Multichannel Trends: Local video sub declines offer a path to delimit higher streaming-only levels: Kagan's analysis of MediaCensus' second-quarter data shows areas of deep legacy multichannel video subscriber losses in the last four years.

Economics of Internet: Hulu Japan increases paid subs through ICT strategy: A profile of Hulu Japan reveals an information and communications technology strategy aimed at increasing synergies.

Economics of Networks: October universe estimates show growth at Entertainment Studios' networks: An analysis of October universe estimates data from Nielsen Holdings PLC.

Consumer Insights: Digital sports growth remains elusive; leagues by demographics: Users of digital sports services, e.g., MLB.TV, are not using the sports apps to replace other TV options, according to our fall 2018 survey results.

Economics of Advertising: Media Trends 2018: Digital products and services have fundamentally altered the way consumers use media.

Consumer Insights: Twitch user profile: Video games are a primary source of entertainment for Twitch users, both watching and playing.

Cable giants to sit out 5G high-band spectrum auction; DISH, telcos in: All four top telcos — Verizon, AT&T, T-Mobile US Inc. and Sprint Corp. — applied to bid in the upcoming millimeter wave spectrum auctions, as did Cox Communications Inc. and DISH. Absent from the list, however, were cable operators Comcast Corp., Charter Communications Inc. and Altice USA Inc.

The Daily Dose has an editorial deadline of 7 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.