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Netflix mulls cheaper pricing tier for Asia; ACA asks DOJ to probe Comcast, NBCU

Top News

* Netflix Inc. is planning to test a cheaper pricing tier in Asia in a bid to attract more users, Bloomberg News reports, citing the company's CEO Reed Hastings. Without disclosing any details, Hastings said in an interview that the streaming giant has not committed to lowering its prices anywhere but may want to experiment.

* The American Cable Association, a trade organization representing more than 700 small and medium-sized broadband and cable companies, asked the U.S. Justice Department's antitrust division to launch a formal investigation of Comcast Corp. and its NBCUniversal Media LLC, and both Wall Street and President Donald Trump are taking note. The investigation, according to the trade group, should focus on harms stemming from Comcast's control of cable systems, TV stations and regional sports networks in some of the largest local markets in the country.

* The U.S. Federal Communications Commission will conduct its monthly open meeting on Nov. 15. The meeting will have a heavy focus on satellite issues as a group of satellite companies are seeking to enter the U.S. market for broadband offerings.

* While analysts said a delay in adopting 5G-enabled chips could weigh on some iPhone sales in late 2019, it would not be the first time that Apple has trailed its competition to the market with a new technology — and still won fans later.

TV

* AT&T Inc. CEO Randall Stephenson accused the White House of violating press-freedom protections by suspending the press credentials of Jim Acosta, CNN (US)'s chief White House correspondent, The Wall Street Journal reports. "If the White House wants to pull someone's press credentials, there is a process," Stephenson said at the Journal's WSJ Tech D.Live conference. "That process must be followed, otherwise what is the criteria for pulling somebody's press credentials?"

Technology

* In more news from the WSJ Tech D.Live conference, Ruth Porat, CFO at Alphabet Inc. and its Google LLC unit, unveiled the U.S. search giant's plans to increase its workforce in New York City to more than 14,000 employees over the next 10 years, the Journal reports. The news comes after a recent report indicated that Google is close to striking a deal to buy or lease a planned 1.3 million-square-foot office building at Oxford Properties Group's $2 billion St. John's Terminal development project in Manhattan, N.Y.

* SpaceX asked U.S. regulators for permission to relocate 1,584 planned satellites to a lower altitude to provide better broadband service. Some analysts see the move coming at a tough time for the company given its financial position.

Streaming

* Anne Mensah will lead the scripted series content team focused on British productions at Netflix as vice president of content. Mensah previously was director of drama at Sky Studios, according to a news release. Mensah will assume the new role in 2019.

* Netflix has struck an overall deal with writer, producer and director Marti Noxon. Under the multiyear agreement, Noxon will produce new series programming exclusively for the streaming service, and Netflix will also have a first-look option on Noxon's feature projects, the company said.

* Nick Bell is stepping down as Snap Inc.'s vice president of content, Variety reports, citing an internal memo. Former Huffington Post CEO Jared Grusd, who was recently appointed Snap's chief strategy officer, will lead Snap's content team.

* CBS Corp.'s CBS All Access has placed a straight-to-series order for true-crime series "Interrogation," Variety reports. The series is based on a true story that spanned more than 30 years, in which a young man was charged and convicted of brutally murdering his mother.

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.

The day ahead

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

In Asia, Hang Seng rose 0.62% to 25,792.87, while the Nikkei 225 fell 2.06% to 21,810.52.

In Europe, around midday, the FTSE 100 rose 0.23% to 7,069.93, and the Euronext 100 gained 0.36% to 989.78.

On the macro front

The Redbook index for retail sales and the Treasury budget are due out today.

Featured news

The Daily Dose Europe: Channel 4, Facebook ink co-production deal; TIM keen on tie-up with Open Fiber: British public broadcaster Channel 4 (UK) is teaming up with Facebook Inc. to produce a new program for Facebook Watch, while Telecom Italia SpA has expressed openness to partner with Enel Open Fiber to create a single network in Italy.

The Daily Dose Asia-Pacific: SoftBank cleared to launch US$21B IPO; India orders probe against IntelSoft: SoftBank Group Corp. is seeking to raise US$21 billion in the public listing of its domestic telecom unit, while India's competition regulator ordered an investigation against Intel Corp. for allegedly abusing its dominant position in the country's server market.

M&A Replay: CommScope inks $7.4B ARRIS deal; Microsoft buying 2 game development studios: CommScope Holding Co. Inc. struck a deal to buy set-top box maker ARRIS International plc for about $7.4 billion, while Microsoft Corp. agreed to buy two new game development studios Obsidian Entertainment Inc. and inXile entertainment Inc..

Industry, consumer groups clash over vision for federal privacy legislation: Trade groups such as the Internet Association and USTelecom expressed support of federal privacy legislation designed to "harmonize" U.S. privacy legislation and pre-empt state laws. Public Knowledge, a consumer advocacy group, opposed the idea.

The week in OTT: Disney+ streaming service details; Netflix new Asian originals: When Walt Disney Co. launches its direct-to-consumer streaming service late next year, it will be structured around five brands. Netflix unveiled 17 new Asian original productions from Japan, Taiwan, Thailand, India and South Korea.

M&A Replay: European deals: EU clears Disney-Fox deal; Germany's SAP to buy Qualtrics: The European Commission conditionally approved Disney's proposed acquisition of various assets owned by 21st Century Fox Inc., while German company SAP SE agreed to acquire experience management software firm Qualtrics International Inc.

The Week Ahead Europe: Calls grow for Zuckerberg to join global Facebook hearing: The international grand committee, which includes parliamentary representatives from the U.K., Canada, Australia, Argentina and Ireland, is due to meet in the British capital on Nov. 27.

Featured research

Broadcast Investor: TV station stocks pop post-election on record midterm political advertising: TV station pure-play stocks have made significant gains post-election on record political ad revenue, and based on analysis of prior U.S. midterm election cycles, shares are poised to move higher.

Consumer Insights: Original content dominates among HBO NOW users: It might be called Home Box Office, but it is all about the original content.

Economics of Internet: US digital video ad projections, 2018-2028: Video advertising remains one of the fastest-growing formats within the broader digital ad ecosystem, with steady gains likely for years to come.

The Best Of: Kagan research and analysis, editor's picks: Presenting the editor's top picks from Kagan's exclusive research and analysis for the week ended Nov. 9.

Multichannel Trends: Q3'18 multichannel video subscriptions fall despite virtual services lift: The estimated decline of 1.16 million for traditional multichannel video subscriptions in the third quarter was reduced, but not offset, by gains in virtual multichannel platforms.

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