Top News
* Enterprise software company VMware Inc. announced agreements to buy two software companies with a combined enterprise value of $4.8 billion. The agreements cover the acquisitions of software and services company Pivotal Software Inc. — controlled by Dell Technologies Inc., which also holds a majority stake in VMware — and cybersecurity company Carbon Black Inc.
* At least three of the founding partners in Facebook Inc.'s Libra digital currency project are considering cutting ties with the venture, London's Financial Times reports. The move came amid heightened regulatory scrutiny over the proposed currency, including an antitrust probe from European Union officials.
* Hasbro Inc. agreed to acquire Canadian multinational mass media and entertainment company Entertainment One Ltd. in an all-cash transaction valued at about $4.0 billion, or £3.3 billion. The transaction is expected to close during the fourth quarter.
* A coalition of 12 phone companies and 51 attorneys general from around the country agreed to adopt eight principles to fight illegal robocalls. The agreement is expected to help protect users from illegal robocalls and make it easier for attorneys general to investigate and prosecute bad actors. The coalition includes AT&T Inc., Sprint Corp., T-Mobile US Inc., Verizon Communications Inc., Comcast Corp., Charter Communications Inc., CenturyLink Inc., United States Cellular Corp. and Windstream Holdings Inc.
Internet & OTT
* YouTube TV began offering AMC Networks Inc.'s subscription streaming services Acorn TV and UMC as add-on channels to subscribers, according to a statement. A subscription to Acorn TV's add-on channel costs $6 per month, while UMC's add-on channel is worth $5 per month.
* Texas District Court Judge Tanya Garrison postponed the U.S. rollout of Facebook's Off-Facebook Activity feature, which allows users to clear their browser history, until at least Aug. 30, Bloomberg News reports. The order came at the request of a sex-trafficking victim who claimed the feature would allow her alleged "pimp" to destroy evidence related to the incident.
* Alphabet Inc. unit Google LLC disabled 210 channels on YouTube after it discovered that they behaved in a coordinated manner while uploading videos related to the Hong Kong protests. The discovery of the channels was consistent with recent actions related to China announced by Facebook and Twitter Inc.
* Google proposed creating a "privacy sandbox" on its Chrome browser to enhance privacy on the web while ensuring that ads continue to be relevant for users, according to a blog post. The feature would make it easier for Chrome users to block tracking techniques such as fingerprinting.
* News Corp. is preparing a news-aggregation service dubbed Knewz.com to address publishers' concerns about Google News and similar services not adequately rewarding publishers' work and playing down articles from certain websites, The Wall Street Journal reports, citing sources with knowledge of the plans. The new service could be launched later this year as a website and a mobile app, sources said.
Technology
* In more Google news, the company will no longer name upcoming versions of its Android mobile operating system after desserts and treats. The latest version of Android Q will be called Android 10, according to an official blog post.
* HP Inc. President and CEO Dion Weisler will step down in the coming months over a family health matter, the technology hardware company announced. Weisler, who has led HP since 2015, will be replaced by Enrique Lores, the president of HP's imaging, printing and solutions business, effective Nov. 1.
* Max Cohen, vice president of mobile at Facebook unit Oculus VR LLC, is leaving the company at the end of August, VentureBeat reports. Cohen is credited for leading the Gear VR device project in partnership with Samsung Electronics Co. Ltd., among others.
* Private investment firm New State Capital Partners LLC purchased a majority stake in Computer Data Source Inc. for an undisclosed sum. CDS provides data center storage and support services.
Film & TV
* NBC Sports Group said it struck a deal with World Rugby to air the HSBC World Rugby Sevens Series across its platforms in the U.S. for four years until 2023. Under the deal, NBC Sports will air more than 300 hours of programming every year on NBCSN, Olympic Channel (US), NBCSports.com, the NBC Sports app, OlympicChannel.com and the Olympic Channel app.
* Ann Sarnoff formally assumed the role of chair and CEO at Warner Media LLC's Warner Bros. Entertainment Inc., Variety reports. Sarnoff replaced Kevin Tsujihara, who stepped down amid a probe into his personal relationship with actress Charlotte Kirk.
Advertising
* Comcast Spotlight LP, the advertising sales division of Comcast Cable Communications LLC, appointed Melanie Hamilton vice president of national sales. Hamilton will join the company in September from Google, where she most recently was telecom head of industry.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng rose 0.50% to 26,179.33, and the Nikkei 225 increased 0.40% to 20,710.91.
In Europe, around midday, the FTSE 100 was up 0.57% to 7,169.09, and the Euronext 100 was up 0.42% to 1,049.99.
On the macro front
The new home sales 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
The Daily Dose Europe: BT's Irish business sale; Paramount Play in Poland; Sunrise-freenet discord: British Telecom is in talks to sell its Irish corporate business, Orange Polska SA began offering Paramount Play, and Sunrise Communications Group AG expressed disagreement with majority shareholder freenet AG.
The Daily Dose Asia-Pacific: Alibaba, NetEase deal update; 5G network sharing in China; Facebook's Korea suit: A potential $2 billion deal between Alibaba Group Holding Ltd. and NetEase Inc. has fallen apart, China Telecom Corp. Ltd. is willing to work with rivals to build a 5G mobile network, and Facebook won a legal battle against a South Korean regulator.
The Program Guide: James Corden extends 'Late Late Show' contract; Syfy cancels 'Krypton': James Corden will continue as host of "The Late Late Show" until August 2022, while Walt Disney Co. plans to temporarily resume broadcasts of Ultimate Fighting Championship matches on FX Network (US).
Hires and Fires: Comscore to cut about 8% of workforce; Activision Blizzard names marketing chief: ComScore Inc. is cutting jobs to realign its technology, product and sales organizations, while Creative Artists Agency LLC veteran David Messinger joined Activision Blizzard Inc. as the company's corporatewide chief marketing officer.
Hires and Fires Europe: Telia Denmark CEO to step down; Nokia names strategy chief: Morten Bentzen is stepping down as CEO of Telia Co. AB's Danish unit, while Nokia Corp. named Gabriela Styf Sjöman chief strategy officer.
SoftBank invests in Energy Vault; Baidu backs Zhihu: SoftBank Vision Fund LP invested $110 million in energy storage startup Energy Vault SA, while Baidu Inc. and Beijing Kuaishou Technology Ltd. jointly invested $434 million in Tencent Holdings Ltd.-backed question-and-answer platform Zhihu.
Gamers seize on 5G to unite esports in Asia: Industry-watchers predict that new 5G networks, which offer better mobile streaming capabilities, will drive a need to unite the fragmented esports sector in Asia with a centralized "Netflix Inc.-like" platform.
Featured research
Economics of Internet: Profile: Twitter: A focus on user engagement and incorporating a variety of live and on-demand video content has helped Twitter emerge from a mini midlife crisis that saw annual total revenue decline in 2017 before rebounding in 2018.
Economics of Networks: Cable Program Investor: Table of contents for Issue No. 261, published August 2019.
Consumer Insights: Germany SVOD user profiles offer insight into future market growth: Data from the Kagan European Consumer Insights surveys conducted in Germany over the past four years shows steady growth of the online subscription video-on-demand market.
Global Multichannel: Global markets update — Thailand: Kagan has recently updated Global Multichannel and Broadband analyses for Thailand, as well as analysis for related operator True Corp.
Technology: Secondary distribution encoder market slump expected to continue: With pay TV providers investing more money in multiscreen adaptive bitrate video services than in their traditional network delivered services, the market for secondary distribution encoders is on a path of decline.
Recent earnings
VMware to acquire 2 software companies; fiscal Q2 income boosted by tax benefit: Enterprise software company VMware agreed to buy Pivotal Software and Carbon Black, giving the two a combined enterprise value of $4.8 billion. VMware also reported quarterly net income of $4.93 billion, or $11.83 per share, boosted by a tax benefit.
Salesforce.com sees 22% spike in revenue in fiscal Q2, increases outlook: Salesforce.com inc. shares were up more than 7% in after-hours trading on Aug. 22 after the company posted a 22% year-over-year increase in its top line for its fiscal second quarter.
HP CEO to step down; shares fall despite higher fiscal 2019 profit outlook: The technology hardware company raised its earnings guidance for fiscal 2019 as its latest quarterly earnings surpassed expectations.
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