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China Literature to buy New Classics Media; Tencent-backed NIO files for US IPO

TOP NEWS

* Chinese online publishing and e-book company China Literature Ltd. will acquire 100% of the share capital of New Classics Media Corp. in a transaction that values the TV and film producer at 15.5 billion Chinese yuan. China Literature will acquire the shares from certain members of New Classics Media's senior management and Tencent Holdings Ltd., which owns a majority stake in China Literature.

* Chinese electric vehicle maker NIO Inc. applied for a US$1.8 billion IPO on the New York Stock Exchange, according to an Aug. 13 SEC filing. The Shanghai-based startup intends to list its American depositary shares under the ticker symbol NIO. It has not yet specified the number of shares that will be offered. It was founded in 2014 and counts Chinese tech giant Tencent Holdings Ltd. and investment firm Hillhouse Capital Group Ltd. among its backers.

PAN-ASIAN NEWS

* Samsung Electronics Co. Ltd. is cutting its smartphone production in China and will now shift its focus to improving production lines in Vietnam and India, the Nikkei Asian Review reports. The move reportedly comes as the company's market share in China has fallen over the last few years. Samsung Electronics is a unit of the Samsung Group.

JAPAN

* NTT Docomo Inc.'s e-commerce site DoCoMo Online Shop experienced an attack of about 1,000 attempted illegal purchases of goods including iPhone X handsets by hackers, Asahi Shimbun reports. The hackers allegedly signed in with stolen ID and passwords and had the products sent to a fraudulent address. DoCoMo is the mobile arm of Nippon Telegraph & Telephone Corp.

* Dentsu Inc.'s digital advertising subsidiary Cyber Communications Inc. will partner with Colorado-based SpotX Inc. to bring the latter's video advertising platform to Japanese broadcasters, including Tokyo Broadcasting System Television Inc. and Fuji Television Network Inc.

* SoftBank Group Corp. appointed Robert Townsend as chief legal officer and senior vice president and also chief legal officer of SoftBank Group International. Townsend, currently co-chair of Morrison & Foerster's Global M&A Practice Group, will report to SoftBank CEO Masayoshi Son and SoftBank director, executive vice president and COO and CEO of SoftBank Group International Marcelo Claure.

SOUTH KOREA

* NAVER Corp. invested 10 billion South Korean won in U.S.-based online shopping platforms, News 1 reports. According to its semiannual report, the company invested 4.5 billion won in San Francisco-based Massdrop Inc. and 5.6 billion won in HoneyBook Inc. last year.

* Samsung Electronics and Seoul National University signed a deal to cooperate on semiconductor research. The company will provide scholarships and fund research projects, and plans to further expand the cooperation with other major universities.

* Munhwa Broadcasting Corp. launched a mobile news platform dubbed 14F to target younger audiences, Yonhap News Agency reports. The news platform releases a 3 minute-long report consisting of several news items from 14 categories.

CHINA, HONG KONG AND TAIWAN

* Beijing-based wireless system developer Tsinghua Unigroup Ltd. agreed to buy a 30% stake in semiconductor maker Suzhou ASEN Semiconductors Co. Ltd. for about US$95.34 million, DigiTimes reports. Suzhou is a subsidiary of Taiwanese company ASE Technology Holding Co. Ltd.

* Chinese ride-sharing giant Didi Chuxing Technology Co. Ltd. said its recently upgraded auto solutions platform Xiaoju Automobile Solutions purchased Shanghai-based online-to-offline auto after-service company Hiservice. Under the deal, Xiaoju will merge the Hiservice business with its own maintenance and repair unit to form Xiaoju Auto Care. Terms of the transaction were not disclosed.

* Electronics maker Xiaomi Corp. and e-commerce platform JD.com Inc. will partner to integrate JD.com into MIUI, Xiaomi's smartphone operating system, to carry out precision marketing that targets MIUI users, Sina reports.

* Beijing Byte Dance Telecommunications Co. Ltd.-owned news aggregator Jinri Toutiao launched Pangolin, an ad network that will compete with Baidu Inc. and Tencent for online ads money, KrASIA reports.

INDIA AND SOUTH ASIA

* Spanish soccer league La Liga has tapped Facebook Inc. to stream free-to-air matches over the next three seasons to viewers in the Indian subcontinent, Reuters reported, citing a statement. Facebook will live-stream all 380 matches in La Liga's upcoming season for free to viewers in India, Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka, beginning Aug. 17.

* Amazon.com Inc. invested another 27 billion rupees to its India operations, bringing the e-commerce giant's total investment in Amazon India to over US$1 billion since January, according to The Economic Times (India). Meanwhile, the Indian government has asked Amazon to "urgently" set up local servers in the country and check unbridled cross-border migration of data without user consent, TNN reports.

* New Delhi Television Ltd. will convert its free-to-air news channel NDTV India into a pay channel beginning Sept. 15, Television Post reports.

SOUTHEAST ASIA

* Huawei Technologies Co. Ltd.'s Thailand unit will invest 700 million baht in two data center projects to provide cloud services, Prachachat reports. As part of the investment, Huawei will build a new facility in Bangkok.

* Indonesian telco PT Indosat Tbk, will partner with media and technology company PT Elang Mahkota Teknologi Tbk, or Emtek, through its internet arm, GIG to provide internet protocol television service, Liputan6 reports. Emtek subsidiaries Nexmedia and Skynet will provide content for the partnership.

* Thai telco Advanced Info Service PCL will partner with e-commerce platform JIB Online to offer discount codes on e-sports gaming equipment and AIS fiber home broadband, The Bangkok Insight reports. The move is part of the telco's promotion strategy for the AIS Thailand PVP Esports Championship.

* Thailand's minister of digital economy and society proposed that a new committee be appointed to promote investments at Digital Park Thailand, a special economic zone, Prachachat reports.

* Youtap Ltd., a Singapore-based mobile payment service company, announced that it will receive investments from Indonesian conglomerate Salim Group. The two companies will collaborate to provide e-money applications and solutions in different markets.

AUSTRALIA AND NEW ZEALAND

* Australian telco Singtel Optus Pty. Ltd. announced the completion of 37 new mobile sites across the country's Tasmania state in a A$42.2 million investment to improve call quality and increase internet speeds. The telco will invest a further A$4.5 million to build 8 new sites by March 2019. Optus is a subsidiary of Singapore-based Singtel.

* In other Optus news, the telco's IT solutions unit Optus Business, was awarded a contract worth A$6 million by the Australian Department of Health to provide telecommunications services in a three-year deal. Optus Business will provide a range of services including wide-area network services to the department's users.

* New Zealand telco, Spark New Zealand Ltd. announced that it has secured exclusive broadcasting rights to the Premier League Football from August 2019 to May 2022 and Manchester United TV from later this year. In the same announcement, Managing Director Simon Moutter announced the appointment of former Television New Zealand Ltd. director of content, Jeff Latch as head of Spark Sport.

* Sydney-based broadcaster Foxtel will launch a 4K channel ahead of the country's cricket series against South Africa, The Sydney Morning Herald reports. Foxtel is a subsidiary of News Corp.

* Telstra Corp. Ltd. said director Steve Vamos intends to retire from the company's board after 9 years in the role. Vamos is also a member of the Melbourne-based telco's nomination and remuneration committees. According to Telstra Chairman John Mullen, Vamos made the decision to focus on New Zealand software company Xero Ltd., which he joined as CEO in April 2018.

FEATURED NEWS

Fears over pay TV subscriber losses moderate as operator-run streamers grow: The trend of pay TV operators hemorrhaging video subscribers slowed in the second quarter, improving some analysts' view of the industry's outlook.

FEATURED RESEARCH

Global Multichannel: Discovery continues to see lower affiliate revenues in Asia: Discovery's international segment has consistently grown affiliate revenues since 2016. Results from the Asia-Pacific region, however, have had a negative impact on affiliate revenues as consumers are turning more toward local and digital content.

RECENT EARNINGS

Foxconn reports lower Q2 profit YOY: Net profit attributable to the owners of the company came in at NT$17.49 billion, or NT$1.00 per share, in the second quarter.

Nicole Kim, Frances Wang, Joji Sakurai, Kevin Osmond and Patrick Tibke contributed to this report. The Daily Dose has an editorial deadline of 7 a.m. Hong Kong time. 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.