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CBS directors discussing CEO's exit; US charges North Korean for cyberattacks


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CBS directors discussing CEO's exit; US charges North Korean for cyberattacks

Top News

* Independent directors of CBS Corp.'s board are discussing a potential exit for the company's CEO Leslie Moonves as part of ongoing efforts to settle a corporate governance battle with majority shareholder National Amusements Inc., The Wall Street Journal reports, citing sources familiar with the details. Also, the independent directors are seeking assurances that the media company will be able to pursue deals without facing interference by the controlling shareholder.

* The U.S. Department of Justice charged a North Korean citizen for being involved in a conspiracy to conduct multiple "destructive" cyberattacks around the world. Park Jin Hyok, who was a member of a government-sponsored hacking team, dubbed the "Lazarus Group," was held responsible for the creation of the malware used in the 2017 WannaCry 2.0 global ransomware attack; the 2016 theft of $81 million from the Bangladesh Bank; the 2014 attack on Sony Corp.'s Sony Pictures Entertainment, among other attacks, the agency said.

* Apple Inc. is considering plans to create an online tool that would let the police formally request user data, Reuters reports, citing a letter sent to Sen. Sheldon Whitehouse, D-R.I., by the company's General Counsel Kate Adams. Also, the tech giant plans to set up a team that will train police about what data can and cannot be obtained from the company.

* Landmark Theatre Corp. CEO Ted Mundorff is leading a sales process that has reportedly included some of the biggest names in digital video, and despite declining admissions, he believes the exhibition business is strong.


* The European Union has cleared Apple's proposed acquisition of British music recognition app Shazam Entertainment Ltd. While approving the deal, the commission concluded that the merger would not adversely affect competition in the European Economic Area or any substantial part of it.

* Alphabet Inc. unit Google LLC has scheduled an Oct. 9 event for the unveiling of its Pixel 3 and Pixel 3 XL smartphones, reports, citing invites for the event in New York. The Pixel 3 will reportedly feature a Snapdragon 845 processor, 4-GB Ram, a 12.2-megapixel camera and a 5.5-inch display; while Pixel 3 XL will support a 6.71-inch display and 6-GB RAM.

TV Networks

* DISH Network Corp. struck a deal to add premium cable network DogTV to its lineup, Multichannel News reports. The service, which offers video content targeted to stay-at-home dogs and their owners, will cost DISH customers $4.99 a month on Channel 285, network officials said.

Internet & OTT

* Twitter Inc. permanently suspended conservative conspiracy theorist Alex Jones and his media company Infowars from its platforms, citing a violation of Twitter's policy on abusive conduct. "We took this action based on new reports of tweets and videos posted yesterday that violate our abusive behavior policy, in addition to the accounts' past violations," the company said in a tweet from its safety tools and resources account.

* Google's YouTube TV allows users to freeze their subscriptions between four weeks and six months at any time, reports. Previously, users had to cancel their subscriptions and returning members had to reopen their YouTube TV account.

* Twitter is testing a new web experience that will include Bookmarks, the company said in a tweet. The redesigned web page will be visible to a small number of people, the company said.

* IAC/InterActiveCorp's Tinder Inc. tapped Jenny Campbell as chief marketing officer of the company. Campbell previously served 72andSunny Partners LLC as managing director of the Los Angeles office, the company said.

The day ahead

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

In Asia, the Hang Seng decreased 0.01% to 26,973.47, and the Nikkei 225 declined 0.80% to 22,307.06.

In Europe, around midday, the FTSE 100 was down 0.85% to 7,256.55, and the Euronext 100 was down 0.20% to 1,025.18.

On the macro front

The employment situation report, the quarterly services survey, the Treasury STRIPS report and the Baker-Hughes Rig Count report are 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

BBC's 'Bodyguard' sets ratings record as OTT players step up UK investments: Media analysts hailed strong viewing figures for the British Broadcasting Corp.'s new political thriller "Bodyguard" as a boost for the U.K.'s TV production sector, amid moves by tech giants such as Inc. and Netflix Inc. to increasingly rival the country's broadcasters.

Data Dispatch: SoftBank's US$100B Vision Fund ramps up investments in Asia: The US$100 billion private equity and venture capital arm of Japan's SoftBank Group Corp. is increasingly focusing on Asia as it seeks to expand its global portfolio, despite the bulk of its investments being in U.S. and Canadian companies.

The Daily Dose Europe: EU approves Apple, Shazam deal; Verizon, Nokia advance in 5G tie-up: The European Commission has approved Apple's proposed acquisition of British music recognition app Shazam, while Verizon Communications Inc. and Nokia Corp. completed a data transmission over a 3GPP 5G New Radio network as part of their 5G partnership.

Tencent to invest US$1B in China's Lianjia; WeWork receives funds from SoftBank: China's Tencent Holdings Ltd. will invest US$1 billion in Beijing-based brokerage Lianjia, while WeWork Cos. secured US$1 billion from Japanese conglomerate SoftBank Group.

The Daily Dose Asia-Pacific: Facebook building US$1B data center in Asia; Tencent to regulate underage gaming: Facebook Inc. will invest over US$1 billion to set up its first Asia data center in Singapore, while Tencent Holdings will implement a new system to single out underage players and monitor user playtime on its "Honour of Kings" game.

Data Dispatch: By market cap, Amazon + Apple = 114 largest US banks: Next to the two tech heavyweights, the market capitalization of U.S. banks seems comparatively small.

Hires and Fires: Netflix taps Disney exec to lead consumer products; Paramount TV gets president: Christie Fleischer left Walt Disney Co. to join Netflix as global head of consumer products, while Paramount Television named Nicole Clemens president of the company.

Hires and Fires Europe: Telenor shuffles management; WPP appoints CEO: S&P Global Market Intelligence presents a biweekly rundown of executive and board changes in the European media and communications industries.

Featured research

Economics of Internet: NBC gains as growth slows for other broadcast network OTT libraries: Major broadcast networks in the U.S. have rapidly expanded their over-the-top libraries for prime-time programming in recent years, but gains for most networks have moderated in 2018.

Retrans database update: DISH/Univision drags on, DISH/SagamoreHill resolved: Although DISH's dispute with Univision is ongoing, the satellite programming service provider resolved its carriage impasse with SagamoreHill Broadcasting involving an estimated 143,137 subscribers.

Wireless Investor: Australia juggles regional 4G expansion, metro 5G pilot tests: While Australia's metropolitan areas are seeing the dawn of 5G, some rural and remote communities in the country are only starting to receive their first mobile connection in 2018.

Technology: Q2 North American smart TVs continue to grow despite tariff uncertainty: Uncertainty surrounding tariffs seems to have resulted in some front-loading of shipments during the quarter, with companies preferring to warehouse products longer rather than risk price increases on subsequent orders.

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