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EBay to buy Corrigon; Google, Apple, Disney not bidding for Twitter

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Independent Networks Gain Little Traction On Virtual Multichannel Services

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Street Talk Episode 48 - Bank M&A, Investing Against An Inverted Yield Curve Overview


EBay to buy Corrigon; Google, Apple, Disney not bidding for Twitter

TOP NEWS

* Online auctioneer eBay Inc. agreed to buy Corrigon Ltd., a developer of visual search technologies, for an undisclosed sum. After closing of the deal, the Corrigon team will become part of eBay’s structured data organization and will be based in eBay’s Development Center in Netanya, Israel, according to a post on the eBay website.

* Alphabet Inc. unit Google Inc., Apple Inc. and Walt Disney Co. reportedly will not submit bids for Twitter Inc. Sources said that Google explored the possibility of a takeover but decided against participating in the bidding process, while Apple and Disney are also out of contention, leaving Salesforce.com Inc. to be the leading contender for the microblogging site, Recode reports.

Internet & OTT

* Meanwhile, Twitter plans to wind up talks about the company's sale by Oct. 27, the date it reports its third-quarter financial results, Reuters reports, citing sources familiar with the details. The company has reportedly informed potential buyers and expects to receive binding acquisition offers in the next two weeks.

* Netflix Inc. appointed former Universal Television President Bela Bajaria vice president of content, effective Nov. 1. In this role, Bajaria will oversee the streaming giant's television and film licensing from major U.S. studios as well as co-production partnerships with major U.S. networks, the company said.

Film & TV Programming

* Disney is exploring technologies that could help the media giant distribute its content to consumers, the New York Post reports, citing the company's CEO Bob Iger. While speaking at an event, Iger said Disney is "fortunate" to have assets like Disney Channel (US), ABC (US), ESPN (US), Pixar, Marvel, "Star Wars" and Lucasfilm, but it is not enough without access to the consumers.

* Toy maker Hasbro agreed to settle a $5 million lawsuit filed by FOX News Channel (US) anchor Harris Faulkner over a hamster doll that allegedly looked like her, the New York Post reports. While terms of the settlement agreement were reportedly not disclosed, Hasbro has agreed to discontinue the toy, which was also named after Faulkner.

Technology

* Yahoo! Inc. is contesting a report that claimed the company developed a software program to scan Yahoo Mail accounts for U.S. intelligence, Bloomberg News reports. Calling the earlier report "misleading," the internet company said it narrowly interprets "every government request for user data to minimize disclosure. The mail scanning described in the article does not exist on our systems."

* Alphabet unit Nest Labs' founder and CEO Tony Fadell has left the company, The Wall Street Journal reports. The company tapped Marwan Fawaz, a former executive vice president at Motorola Mobility, as its new CEO.

The day ahead

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

In Asia, the Hang Seng rose 0.69% to 23,952.50, and the Nikkei 225 was up 0.47% to 16,899.10.

In Europe as of midday, the FTSE 100 was down 0.13% to 7,023.83, and the Euronext 100 fell 0.35% to 884.03.

On the macro front

The jobless claims report, the EIA natural gas report, the Fed balance sheet and the money supply report are due out today.

Featured news

Data Dispatch: Netflix, Twitter and Disney's M&A appetite: Rumors are circulating that Disney is considering a bid for Netflix or Twitter, but the size and scope of such a deal would be big.

FOX-owned RSNs drop puck on NHL in-market streaming, dynamic ad insertion: A dozen FOX-owned regional sports networks will begin offering in-market streaming of NHL games and programming and open up a new revenue stream with dynamic advertising insertion this season.

The Mediator: Gannett and tronc: A paper chase: Persistence often pays off in the newspaper industry. But it can also carry a high cost.

The Program Guide: HBO debuts sci-fi 'Westworld'; Netflix orders animated comedy 'Pacific Heat': S&P Global Market Intelligence presents a roundup of recent programming announcements from various networks and online video platforms, including the 2016 New York Comedy Festival and the Oct. 2 debut of "Westworld" on HBO / Cinemax (US).

Best of Nordics: Telia faces $1.4B settlement bill over Uzbek corruption probe: In this monthly feature, S&P Global Market Intelligence provides a roundup of recent market developments in Denmark, Sweden, Norway, Finland and Iceland.

The Daily Dose Europe: Deutsche Telekom eyeing European ISP; Ireland probes Yahoo email scanning: Deutsche Telekom AG and United Internet AG are preparing offers for European Internet service provider Host Europe Group, while Ireland's Data Protection Commissioner is looking into a report that Yahoo agreed to scan emails for U.S. intelligence officials.

Featured research

Economics of Advertising: Media Trends 2016: Media has been an important part of consumer spending for decades, even during economic turmoil. We look at the current trends impacting each of our covered sectors in SNL Kagan's annual interactive Media Trends report.

Economics of Networks: Clippers stick with Prime Ticket in another win-win for RSN industry: We estimate the deal at a total value of $325 million over six years, averaging out to $54.2 million a year. The agreement excludes the Los Angeles Clippers' digital rights, which the team plans to use in a direct-to-consumer product.

Economics of Internet: OTT players focus on content in Latin America: With Latin America's local infrastructure steadily improving, and more flexible payment options becoming available, most OTT players within the region are turning their attention to providing a more diversified offering.

Economics of Advertising: Royals' fight for postseason puts FOX Sports Kansas City on top in August: FOX Sports Kansas City (US) topped prime-time RSN ratings for the fifth consecutive month in August.

Consumer Insights: South Korea survey report, 2016: SNL Kagan recently completed a Consumer Insights survey in South Korea that focused on consumer trends related to home and mobile entertainment, e-commerce, internet-connected devices and other media-related activities.

The Daily Dose is updated as of 7 a.m. ET. Some external links may require a subscription.