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Disney restructures businesses into 4 segments; iHeartMedia files for bankruptcy

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Disney restructures businesses into 4 segments; iHeartMedia files for bankruptcy

Top News

* IHeartMediaInc. filed for Chapter 11 bankruptcy protection after reaching anagreement in principle with holders of more than $10 billion of its outstandingdebt and its financial sponsors. The agreement reflects widespread supportacross the capital structure for a balance sheet that will reduceiHeartMedia's debt by more than $10 billion, the company .

* Walt DisneyCo. restructured its businesses into four segments in orderto better capitalize on growth opportunities. The four segments are the newlyformed Direct-to-Consumer and International; the combined Parks, Experiencesand Consumer Products; Media Networks; and Studio Entertainment segments, thecompany said.

* ComcastCorp.'s NBC News is considering launching a stand-alone streaming service, Variety reports.The streaming service will be separate from NBC (US) and MSNBC (US), Andrew Lack, chairman of NBC Newsand MSNBC, told reporters.

Spectrum

* Rep. Anna Eshoo, D-Calif., asked the FederalCommunications Commission to withdraw the sale of millimeter-band spectrumlicenses from Straight PathCommunications Inc. to Verizon Communications Inc. and to , Multichannel News reports.In a letter to the FCC, Eshoo said the agency should have revoked the licensesof Straight Path and FiberTower and auctioned instead of letting AT&T andVerizon take the spectrum.

Internet & OTT

* NetflixInc. will create a live action young adult series based on theItalian animated franchise "Winx Club." The live-action series willshow the six fairies from "Winx Club" become teenagers learning tohone their powers while living together in a magic boarding school, the companysaid.

* Amazon.com Inc.'s Prime Video acquired exclusive rightsto the new series of "American Idol" business in the U.K. fromFremantleMedia International, according to a news release. Amazon Prime Video UK will stream episodesof the singing contest weekly a day after it airs in the U.S.

The day ahead

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

In Asia, the Hang Seng rose 0.34% to 31,541.10 and theNikkei 225 rose 0.12% to 21,803.95.

In Europe, around midday, the FTSE 100 rose 0.15% to7,143.20 and the Euronext 100 rose 0.15% to 1,022.31.

On the macro front

The jobless claims report, the Empire State Mfg Survey, thehousing market index, the EIA natural gas report, the fed balance sheet and themoney supply report are due out today.

Featured news

TheDaily Dose Asia-Pacific: Chinese news app eyes US IPO; Singapore starts publichearing on fake news: Chinese news and video aggregation app QuToutiao is considering a U.S. initial public offering and is eyeing a valuationof up to US$3 billion from the share sale, while Singapore began a landmarkpublic hearing on how to fight fake news.

The ProgramGuide: Starz buys rights to 8 documentaries; Apple, Snapchat orderseries: Stories about HBO (US) and Starz's upcoming documentaries, series' renewal byE! (US),POP (US) andNetflix, and a series order by Snapchat are included in this edition of TheProgram Guide. 

Featured research

Technology: Blocking of proposed Qualcomm takeover meant to protectinnovation: President Donald Trump's blocking of Broadcom'sproposed $140 billion takeover of Qualcomm and Broadcom's subsequent withdrawalof its offer has less to do with security concerns than fears for Qualcomm'slong-term competitive position.

Economics ofAdvertising: Databook: Advertising Forecasts: Table of contents forthe edition published March 2018.

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