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Weinstein Co. files for bankruptcy; MGM CEO fired


MediaTalk | Season 2
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Ep.7 How The Business of Gaming is Changing

Weinstein Co. files for bankruptcy; MGM CEO fired

Top news

* Weinstein Co. LLC filed for bankruptcy after the company's deal to sell to an investor group collapsed, Variety reports, citing a statement. The company has a stalking horse bid from Lantern Capital. Also, the company released its staffers from their nondisclosure agreements.

* MGM Holdings Inc.'s board fired Gary Barber as CEO of Metro-Goldwyn-Mayer Inc., Variety reports, citing sources. In a news release, MGM Holdings said the company has initiated a search for Barber's replacement and has set up an office of the CEO to oversee the company's day-to-day operations during this period.

* The U.S. government and AT&T Inc. are squaring off in court this week as the U.S. Justice Department seeks to block AT&T's purchase of Time Warner Inc. Based on pretrial briefs, one legal expert called the government's primary argument a "hypothetical exercise."

* The Federal Communications Commission will hold its monthly open meeting March 22. Topping the agenda is an order aimed at speeding the deployment of next-generation 5G networks by streamlining the federal review process for certain infrastructure deployments.

Internet & OTT

* Alex Stamos, Facebook Inc.'s chief security officer, said in a tweet that his role has changed but denied reports that he was leaving the social networking giant. "I'm currently spending more time exploring emerging security risks and working on election security," Stamos added.

* San Francisco-based file-sharing and cloud-storage company Dropbox Inc.'s initial public offering is oversubscribed, Reuters reports, citing two sources with knowledge of the matter. The IPO is expected to price March 22.


* Uber Technologies Inc. stopped autonomous-car testing in all cities after a self-driving car from Uber hit and killed a woman in Tempe, Ariz., Bloomberg News reports. The Uber vehicle was reportedly in an autonomous mode at the time of the crash. The company halted autonomous tests in San Francisco, Phoenix, Pittsburgh and Toronto.


* Charter Communications Inc. named Danny Bowman chief mobile officer. In this newly created position, Bowman will head the company's mobile business that will launch this year, the company said.

The day ahead

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

In Asia, the Hang Seng rose 0.11% to 31,549.93, while the Nikkei 225 dropped to 0.47% to 21,380.97.

In Europe, around midday, the FTSE 100 climbed 0.19% to 7,055.97 and the Euronext 100 increased to 0.22% to 1,021.43.

On the macro front

The Redbook is due out today and the Federal Open Market Committee meeting will begin today.

Featured news

The Daily Dose Europe: EU to probe Facebook user data misuse; Meredith closes Time Inc. UK sale: The European Parliament revealed plans to investigate the alleged mishandling of Facebook users' data, while Meredith completed the sale of Time Inc. (UK) Ltd. to Epiris Fund II LP.

The Daily Dose Asia-Pacific: SoftBank mulls relisting ARM Holdings; China's Bilibili reveals US IPO details: SoftBank Group Corp. is eyeing the relisting of ARM Holdings plc, while Chinese video-streaming platform Bilibili revealed the terms for its initial public offering.

The week in OTT: Netflix picks up documentary; NBC News mulls streaming service: Netflix Inc. picked up original documentary series "Bobby Kennedy For President," while NBC News is considering launching a stand-alone streaming service.

M&A Replay: Nokia completes purchase of US software firm; Apple buys Texture: S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions from March 12 to March 16.

M&A Replay: European deals: Sky to share info on Disney, Fox deal; Nokia acquires Unium: British pay TV giant Sky plc agreed to share information in relation to the proposed deal between Walt Disney Co. and 21st Century Fox Inc., while tech company Nokia Corp. completed the acquisition of U.S. software company Unium Inc.

China to scrap media regulator; Australian defense agency bans Tencent's WeChat: China announced an overhaul of its governmental structure, revealing plans to abolish its media regulatory body, while Australia's defense department banned Tencent Holdings Ltd.'s social media and messaging app WeChat.

Featured research

Economics of TV & Film: Kagan Box Office Report – Week 10: "Black Panther," along with the week's new release films, proved unable to carry the domestic box office to a fifth week of growth, leaving total weekly gross down 19.2% from $233.7 million in 2017 to $188.9 million.

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 March 16.

Multichannel Trends: Broadband-only homes soar in 2017, solidifying 'new normal' TV-viewing paradigm: The U.S. broadband-only home segment logged record gains in 2017 as consumers increasingly turned to broadband-delivered video.

Economics of Internet: BroadbandTV and Vevo tops among YouTube MCNs in 2017: Most top YouTube multichannel networks saw solid gains in viewing as 2017 came to a close, with viewer appetite remaining strong for the mix of music, entertainment, gaming and fashion content that many networks feature.

Economics of Internet: Pandora's struggles continue as full-year losses mount: Pandora Media Inc. grew fourth-quarter total revenue by less than 1.0% year over year while its active user base shrunk by 7.8% year over year, making 2017 particularly tough for the music service undergoing organizational restructuring.

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