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Fox Corp. not pursuing Nexstar stations; Qualcomm wins $31M ruling in Apple case


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Fox Corp. not pursuing Nexstar stations; Qualcomm wins $31M ruling in Apple case

Top News

* Fox Corp. has backed out of the bidding process for Nexstar Media Group Inc.'s television stations, Bloomberg News reports, citing a source. Instead of pushing for a deal with Nexstar, the 21st Century Fox Inc. unit decided to concentrate on procuring better terms for its current agreements with affiliate stations.

* Nvidia Corp.'s acquisition of Mellanox Technologies Ltd. — aimed at helping the chipmaker expand into the higher-margin enterprise market — drove the shares of both firms upward. Elsewhere, an analyst upgrade and earnings results fueled movement for other tech stocks.

* A jury in federal court in San Diego found that Apple Inc. infringed three of Qualcomm Inc.'s patents, Reuters reports. The tech giant owes about $31 million to the chip maker for infringing patents related to technology for saving phones' battery life, the jury decided.


* Private equity firm Stagwell Group LLC is making a $100 million strategic equity investment in MDC Partners Inc. As part of the transaction, Stagwell Group founder Mark Penn has joined MDC Partners as CEO and a member of its board, according to a news release.

Internet & OTT

* Content distributor Cinedigm Corp. struck a deal to acquire over-the-top platform Future Today Inc. for $45 million in cash and $15 million in Cinedigm common stock. Future Today owns and operates more than 700 content channels and manages more than 200,000 film, TV and digital assets in a range of categories.

* The European Union is looking to impose a fine on Google LLC for blocking potential competition in the search advertising space, London's Financial Times reports. The proposed ruling is in relation to concerns that Google's AdSense hampered how third-party websites exhibit search ads from rivals.

* Facebook Inc. has pulled 1.5 million videos of the New Zealand mosque attack globally, the company said in a tweet. The social networking giant said it blocked more than 1.2 million of these videos at upload.


* Walt Disney Co.'s "Captain Marvel" continued to lead the domestic box office for the March 17 weekend with $69.3 million, followed by Paramount's "Wonder Park" at No. 2 with $16 million and Lions Gate Entertainment Corp.'s "Five Feet Apart" at the third spot with $13.2 million, according to comScore Inc. Universal's "How To Train Your Dragon: The Hidden World" was No. 4 with $9.3 million, while Lions Gate's "Tyler Perry's A Madea Family Funeral" took the fifth spot with $8.1 million.

The day ahead

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

In Asia, Hang Seng rose 1.37% to 29,409.01, while the Nikkei 225 gained 0.62% to 21,584.50.

In Europe, around midday, the FTSE 100 increased 0.59% to 7,271.06, and the Euronext 100 lifted 0.10% to 1,048.25.

On the macro front

The Housing Market Index 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 Daily Dose Europe: EU may fine Google over AdSense; Turkcell CEO steps down: Tech giant Google could be fined by the European Commission over antitrust concerns related to its advertising platform AdSense, while Muhterem Kaan Terzioğlu has stepped down as CEO of Turkish operator Turkcell Iletisim Hizmetleri AS

M&A Replay: Tencent, Kakao among shortlisted bidders for Nexon; YY fully acquires BIGO: Tencent Holdings Ltd. and Kakao Corp. are among the shortlisted bidders that will vie for a controlling stake in game developer NEXON Co. Ltd., while China's YY Inc. has fully acquired Singapore's BIGO Technology Pte. Ltd.

The Daily Dose Asia-Pacific: Royole to raise US$1B ahead of IPO; Baidu launches executive retirement plan: Shenzhen-based flexible display maker Royole Corp. is looking to raise about US$1 billion ahead of its IPO, while Baidu Inc. revealed an executive retirement plan aimed at invigorating its management team.

Data Dispatch: 'Captain Marvel' continues to soar over box office competition: Three debut films will open in the shadow of "Captain Marvel" over the March 15 weekend as the Disney superhero flick charges past $500 million in total box office receipts.

The Best Of: Media & Comm, editor's picks: Nvidia's Mellanox deal; China in 5G race: Stories about Nvidia's $6.9 billion deal to buy Mellanox and China expected to take an early lead in the 5G race are among the editor's top story picks for the week ended March 15.

The Best Of: Media & Comm, most read: News from SXSW; Apple's push for 5G modem: Stories from the South By Southwest, or SXSW, event and about Apple's hiring efforts suggesting it is looking to develop a 5G modem for its iPhone and other devices are included in the most read stories for the week ended March 15.

The Pay Check: AT&T CEO's 2018 compensation; Disney CEO's amended agreement: Randall Stephenson, the chairman, CEO and president of AT&T Inc., earned a total compensation package of roughly $29.1 million in 2018, slightly up from $28.7 million he took home in 2017.

Featured research

Wireless Investor: Cord cutter's guide to sports apps, 2019: Three events stand out in the last year: the MLB's success streaming 26 games via Facebook, MLS throwing in the towel on MLS Live and our survey data indicating that, for the first time, NBA's top-tier digital audience is now the same size as MLB's.

Global Multichannel: TV Everywhere in Western Europe morphing into virtual multichannel TV: As TV Everywhere services become comprehensive compared to the standard pay TV offer, the next phase of evolution looks to cover access for non-TV customers.

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