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Hulu working on new subscription service; Yahoo's shortlist of potential buyers comprises nearly 10 bidders


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Hulu working on new subscription service; Yahoo's shortlist of potential buyers comprises nearly 10 bidders


*Hulu LLC is workingon a new subscription service that would let users stream shows from broadcastand cable TV networks, The Wall StreetJournal reports,citing sources familiar with the plans. The new service is expected to launchin the first quarter of 2017. Hulu is close to striking licensing deals withWalt Disney Co. and21st Century Fox stream programs from their networks, while preliminary talks with otherprogrammers have also started. Hulu's content owners are 21st Century Fox,Disney and ComcastCorp.'s NBCUniversalMedia LLC.

* 's shortlist ofpotential buyers for its core Internet assets close to 10 bidders, most ofwhich proposed a cash deal, Reuters reports,citing sources with knowledge of the details. The list mainly includes largecompanies and private equity firms, such as Verizon Communications Inc. and TPG Capital LP. Thesources, who refused to reveal the full list, said Yellow Pages owner YP LLCand other small companies that proposed a combination with another company are no longer in therunning, according to the report. Yahoo's advisers are still keeping close tothe process some bidders that did not make the cut because their first-roundoffers were not specific enough, such as Liberty Media Corp. Chairman John Malone, who proposed atax-efficient merger with one of the companies he owns, Reuters added. 

Internet & OTT

*Facebook Inc. isfacing a proposedclass-action lawsuit over its plan to issue new class C stock, which would keepfounder and CEO Mark Zuckerberg in control of the company, Reuters reports.The shareholder who filed the lawsuit in the Delaware Court of Chancery claimsthat Facebook's plan to amend its stock structure is unfair to shareholders andserves only to benefit Zuckerberg, according to the report. The shareholdercompared the class C stock issuance to giving Zuckerberg "billions of dollarsin equity" for free. Additionally, the shareholder accused the Facebookboard committee that approved the share deal of not doing its best to make surethat shareholders get something of meaningful value in exchange for keepingZuckerberg in control of the company. Zuckerberg previously said that creatingthe new class of nonvoting capital stock would help with his plan to give moneyfor philanthropic work.

* Inc. isworking to launch its same-day delivery inBronx, N.Y., following complaints that the online retail giant wasdiscriminating against the borough, Bloomberg News reports,citing Brian Huseman, Amazon's vice president of public policy. In a lettersent to Bronx Borough President Ruben Diaz Jr., and New York State AssemblymanJeff Dinowitz, Huseman said the company is actively working to bring thedelivery "service to the Bronx in the coming weeks."

*Netflix Inc. renewedoriginal multi-cam comedy series, "The Ranch," for a second season. The new seasonwill premiere in 2017, according to a tweet by actorAshton Kutcher, who stars in the show.

*Hulu placed a straight-to-series order to MGM Television drama "The Handmaid'sTale," according to a reportby The Hollywood Reporter. StarringElisabeth Moss, the 10-episode series, which is based on Margaret Atwood'snovel of the same name, will reportedly premiere in 2017.

Film & TV Programming

* Snapchatstruck a deal with NBCUniversal Media's NBC Olympics unit to cover the2016 Rio Olympics andthe U.S. Olympic Team Trials. According to an official , the Snapchat coverage willinclude daily Snapchat "Live Stories" and an NBC Rio Olympic Discoverchannel. NBCU networks will air the 2016 Rio Olympics, and the Olympics will bestreamed on and the NBC Sports Live Extra app.

*Disney's "The Jungle Book" continued to dominate the domestic boxoffice by pulling in $42.4 million for the May 1 weekend, to Universal's "TheHuntsman: Winter's War" was No. 2 with $9.4 million, followed by WarnerBros.' "Keanu" at No. 3 with $9.3 million. Open Road's "Mother'sDay" was fourth on the list with $8.3 million, while Warner Bros.'"Barbershop: The Next Cut" took the fifth spot with $6.1 million.Meanwhile, Disney's "Captain America: Civil War" launchedinternationally with $200.2 million for the May 1 weekend.

The day ahead

Earlymorning futures indicators pointed to a higher opening for the U.S. market.

InAsia, the Nikkei 225 declined by 3.11% to 16,147.38. In Europe, around midday,the Euronext 100 was higher by 0.41% to 873.42.

On the macro front

ThePMI manufacturing index, the ISM manufacturing index and the constructionspending report are due out today.

Featured news

ConferenceChatter: Upfront and Personal: Outdoor Sportsman Group to take aim with hybrid,mobile app: The Outdoor Sportsman Group, which includes ,Sportsman Channel(US) and WorldFishing Network (US), will look to expand its reach when itlaunches an ad-supported, hybrid, mobile app early this summer.

MarketWeek:Stocks fly and fall as earnings, M&A drive markets: Media andcommunications stocks flung widely across the board during the week endingApril 29, with earnings and big M&A headlines driving markets.

Rovi, TiVo eyescale, synergy opportunities with planned $1.1 billion merger:TiVo Inc. plans tomerge with Rovi a roughly $1.1 billion cash-and-stock deal that analysts and executives saidshould provide some synergies as well as create a larger combined patentportfolio to further research and development.

Data Dispatch:Thinking outside the box office: Critters abound, but Disney remains king ofthe jungle: A kitten flick and the third in a rom-com franchisewill hit theaters, but there's no challenging "The Jungle Book" inits third weekend.

Best of SNL:Media & Comm, editor's picks: Take a look at the media andcommunications editor's top five picks for the week ended April 29.

Best of SNL:Media & Comm, most read: SNL Kagan presents the five most readmedia and communications articles for the week ended April 29.

Featured research

Best ofSNL: SNL Kagan research and analysis, editor's picks: Presentingthe editor's top picks from SNL Kagan's exclusive research and analysis for theweek ended Apr. 29.

BroadcastInvestor: Broadcast Investor: Table of contents for issue No. 608,April 2016, and B-Stats Supplement Volume 20, No. 1.

Economics ofAdvertising: Viacom domestic cable nets report revenue drop in Q1:Domestic advertising revenue for the company's media networks division was down5.0%, which marks the seventh straight quarter of negative advertising growthfor the company.

WirelessInvestor: Incentive auction clearing target at 126 MHz gives wireless industrya candy store: As FCC Chairman Tom Wheeler put it at the NABconvention last week, there will be "a significant chunk of spectrum"for sale in the 600 MHz forward auction.

New SNL KaganReport: Media Industry Review, Q4'15: Our latest quarterly reportexamines various results and new developments among 10 different media,communications and entertainment sectors, and encompasses exclusive SNL Kaganmetrics.

Economics ofTV & Film: NBCU picking up DreamWorks Animation for 17.1x forward cashflow: Rumors quickly turned to fact April 28, when NBCUniversalannounced it would acquire DreamWorks Animation SKG Inc. for $41 per share.