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Facebook creating new class of non-voting capital stock; Comcast to debut terabyte data plan in trial markets


Next in Tech | Episode 167: FinOps And Battle For Cloud Costs


MediaTalk | Season 2
Ep. 13 - Who Is Investing In The Metaverse And Why


MediaTalk | Season 2
Ep. 12 - Broadband's Growth Outlook as Subsidy Program Ends and Fiber Expands


Next in Tech | Episode 166: The NAB Show And The Broadcast Market

Facebook creating new class of non-voting capital stock; Comcast to debut terabyte data plan in trial markets


*Facebook Inc. iscreating a new classof non-voting capital stock, known as Class C capital stock. If the proposal isapproved at the company's June 20 stockholders meeting, the social networkinggiant intends to issue two shares of class C capital stock for each outstandingshare of the company's class A and class B common stock, executed as a one-timestock dividend. Facebook CEO Mark Zuckerberg said in a to stockholders that the creationof a new class of stock would help him keep founder control of the socialnetwork, adding that he and his wife Priscilla Chan "will be able to giveour money to fund important work sooner." In December 2015, Zuckerbergannounced plans togive away nearly all of his Facebook stock over the course of his life tofurther promote philanthropic work.

*Comcast Corp. willintroduce a terabyte data plan in all of its trial markets by June 1. Theterabyte data plan will replace 300 gigabyte data plan, according to anofficial blog post.Additionally, users will be able to sign up for an unlimited plan for anadditional $50 a month, or purchase additional buckets of 50 GB of data for $10each.


*Verizon CommunicationsInc. reported an increase in incidents of sabotage at its facilities. According to a Multichannel News report,the U.S. carrier said it was investigating 57 reports of suspected incidentsthat have reportedly resulted in thousands of customers losing"critical" wireline services. Verizon has announced a $10,000 rewardfor information that may lead to the arrest and prosecution of people involvedin the incidents.

Internet & OTT

* Afederal court found Amazon.comInc. liable for billing parents for their kids' unauthorizedin-app charges. Granting the U.S. Federal Trade Commission's request forsummary judgment in the agency's lawsuit against Amazon, the court order found thatAmazon received many complaints from consumers about surprise in-app chargesincurred by children, citing that the company's disclosures about thepossibility of in-app charges within otherwise "free" apps wereinsufficient to inform the consumers. According to an official , the order callsfor further representations from the FTC and Amazon regarding the preciseamount of monetary relief the company owes consumers. The order also grants apartial summary judgment requested by regarding injunctive reliefrequested by the FTC in the case.

* secured globalrights to stream David Pablos' "Las Elegidas," Variety reports."Las Elegidas," or "The Chosen Ones," will be available forstreaming on Netflix from May 8. The streaming giant acquired rights to"Las Elegidas" from Mundial, the joint sales venture of IM Global andCanana.

*In more company news, Netflix is working with on afour-part animated adaptation of children's book "Watership Down," reports.The miniseries will premiere on BBC One (UK) in the U.K. and internationally on Netflix.The series is reportedly produced by 42 and director Noam Murro's bannnerBiscuit Films.

*Alphabet Inc.'sGoogle Fiber started rolling out services in Nashville, Tenn., Multichannel News reports.Google Fiber is initially launching its services in a small number of apartmentbuildings and condos. Google Fiber's services are already available in KansasCity; Austin, Texas; and Provo, Utah. Additionally, the company has committedto deploy services in Salt Lake City; San Antonio, Texas; and Charlotte andRaleigh-Durham, N.C. Further, Google Fiber is targeting Chicago; Portland,Ore.; Los Angeles, San Jose, Irvine and San Diego, Calif.; Phoenix; OklahomaCity; Louisville, Ky.; and Jacksonville and Tampa, Fla.

Film & TV Programming

*Time Warner Inc.'sWarner Bros. and RatPac Entertainment joined forces to set up a Chinese filmfund in partnership with China Media Capital, The Hollywood Reporter reports,citing director turned movie mogul Brett Ratner. The new fund will focus onChinese-language movies. RatPac reportedly has an arrangement with Warner co-finance every film in the studio's slate, as well as an existinginvestment in China.

The day ahead

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

InAsia, the Hang Seng rose 0.12% to 21,388.03, while the Nikkei 225 was down3.61% to 16,666.05. In Europe, as of midday, the FTSE 100 was down 1.14% to6,247.99, and the Euronext 100 fell 1.25% to 881.01.

On the macro front

TheGDP report, the jobless claims report, the EIA natural gas report, the Fedbalance sheet and the money supply report are due out today.

Featured news

The Daily DoseEurope: Getty Images files complaint against Google; 3 Italia-WIND deal to faceEC objections: Getty Images filed an antitrust complaint againstGoogle with the European Commission, while the proposed 3 Italia-WIND mergercould face objections from EU antitrust regulators in Brussels.

ConferenceChatter: Music streamers increasingly eye expansion into nichecontent: That French music streaming platform Deezer is among theheadlining keynotes at the annual TV Connect conference in London is telling ofthe growing ubiquity of the business of content.

The ProgramGuide: 'Underground' renewed for 2nd season; Investigation Discovery setspremiere date for 'Judgment Day: Prison or Parole?': SNL Kaganpresents a roundup of recent programming news from various TV networks,including the renewal of 'Underground' for a second season, and the openingceremony of the Rio Olympics.

Hires andFires: Media & Comm director moves through April 26: SNL Kaganpresents a rundown of board changes in the media and communications industries.

Featured research

Economicsof Networks: NBCU kicks off earnings season for cable networks:NBCUniversal MediaLLC posted year-over-year revenue growth of 3.9% (10.2% excludingthe Super Bowl), with revenue at the cable networks up 4.0% to $2.45 billion inthe quarter.

BroadcastInvestor: Major US TV station groups could pull in $13B in incentive spectrumauction: Based on SNL Kagan estimates, 12 major publicly tradedU.S. TV station group owners (including pre-IPO ) couldgenerate $7 billion in an 84 MHz clearing scenario, or up to $13 billion in alofty 120 MHz scenario, if the auction aligns with the FCC's vision.

Technology:Global smartphone shipment projections through 2020: Globalsmartphone shipments are beginning to slow down as mature markets reach peaksmartphone penetration rates and emerging markets continue to deal with economicissues.

Economics ofTV & Film: 'Deadpool' slays May video competition: Afterblazing a trail of box office dominance (and bodies) this past February, WadeWilson, the Merc with a Mouth, is poised to own the video sales charts in May2016.

Recent earnings

Facebook seesdouble-digit growth across the board, stock soars: Facebookdelivered a strong beat to Street estimates after reporting a double-digityear-over-year growth in its top and bottom lines and monthly active users.

Comcastprofits rise in Q1 as churn improves across video, broadbandsegments: Comcast reported higher profits and revenues for thefirst quarter, bolstered by subscriber additions in its high-speed Internet andvideo services.

EBay CEO: Bigchanges coming this year to Marketplace platform: President and CEO DevinWenig highlighted efforts to revamp the company's e-commerce platform,including mobile, to improve the user experience and make products easier tofind.