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CBS seeks outside counsel for CEO probe; Uber to stop building trucks


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CBS seeks outside counsel for CEO probe; Uber to stop building trucks

Top News

* CBS Corp.'s board is selecting outside counsel to lead an investigation into allegations of misconduct against Chairman, President and CEO Les Moonves, but "no other action was taken" on the matter at a meeting July 30, according to a company statement. The board also chose to postpone a shareholder meeting that was scheduled for Aug. 10.

* Uber Technologies Inc. will no longer build self-driving trucks, Reuters reports, citing a company statement. The decision, however, will not impact the company's Uber Freight app, which has seen "rapid" growth.

* A Senate Commerce subcommittee will review international internet policies impacting U.S. businesses, while the U.S. Federal Communications Commission will move forward on setting rules for a 5G spectrum auction.

Internet & OTT

* Twitter Inc. reshuffled its executives following an overhaul of its global content partnerships group, Variety reports. The company named TJ Adeshola head of U.S. sports, while Nick Sallon was named head of U.S. news. Also, Stacy Minero was named head of content creation, and Tyler Vaught was appointed head of creators and Niche.

* Inc. is working to introduce a major upgrade for its Prime Video app, reports, citing a statement by Amazon Studio head Jennifer Salke. Salke declined to offer additional details about the upcoming upgrade.

* Facebook Inc.'s WhatsApp unveiled a group calls for voice and video feature for users. The new feature would allow users to make a group call with up to four people, according to an official blog post. Group calls will always be end-to-end encrypted.


* Richard Marks, head of Sony Corp.'s Magic Lab division, has joined Alphabet Inc. unit Google LLC's Advanced Technology and Projects group, VentureBeat reports. Google confirmed the news in a statement but did not disclose Marks' title at the company.

* T-Mobile US Inc. reached a $3.5 billion, multiyear deal with Nokia Corp. to utilize its technology, software and services to launch T-Mobile's next-generation 5G wireless network, the companies said. As part of the agreement, Nokia will help build T-Mobile's 5G network with 600 MHz and 28 GHz millimeter wave 5G capabilities compliant with 3GPP 5G New Radio standards.

TV Networks

* PBS (US) named Perry Simon as its next chief programming executive and general manager, general audience programming, according to a news release. Previously, Simon was managing director at Vulcan Productions, asocial impact media company.


* Babette Boliek has joined the Federal Communications Commission as chief economist. Boliek currently serves as a professor of law and the associate dean of faculty research at Pepperdine University School of Law, the agency said.

The day ahead

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

In Asia, Hang Seng dropped 0.52% to 28,583.01, while the Nikkei 225 climbed 0.04% to 22,553.72.

In Europe, around midday, the FTSE 100 gained 0.56% to 7,744.13, and the Euronext 100 rose 0.07% to 1,076.60.

On the macro front

The personal income and outlays report, the employment cost index, the Redbook Index for retail sales, the S&P Corelogic Case-Shiller home price index, the Chicago PMI, the consumer confidence report and the State Street Investor Confidence Index are due out today.

Featured news

The Daily Dose Europe: Vivendi mulls selling up to 50% UMG stake, BT loses UFC, NBA rights: Vivendi SA is considering selling 50% of its stake in Universal Music Group, while British Telecom has lost its Ultimate Fighting Championship and NBA broadcasting rights.

The Daily Dose Asia-Pacific: SoftBank unit to buy Treasure Data; Alibaba acquires stake in Star China Media: SoftBank Group Corp.'s subsidiary ARM Holdings PLC has agreed to buy U.S.-based data analytics company Treasure Data Inc., while Alibaba Group Holding Ltd. acquired a 1.17% stake in Star China Media Corp. worth 200 million yuan.

The week in OTT: Netflix continues content push; Discovery eyes OTT service: Netflix Inc. will develop a movie based on a book, called "Shoe Dog," by NIKE Inc. co-founder and board Chairman Emeritus Phil Knight, while Discovery Inc. is mulling plans to launch a direct-to-consumer streaming service in the range of $5 a month to $8 a month.

The Week Ahead Europe: EU to discuss safer internet, tech laws for children: The European Union will step up efforts to increase online safety for children, generally deemed the most vulnerable and the most enthusiastic internet users, as well as avid technology adopters.

The Daily Dose Europe: ITV, Virgin Media reach deal; Proximus eyes new streaming platform: ITV PLC entered into a three-year agreement with Virgin Media Inc., while Proximus is in talks with content creators for the launch of a new streaming platform.

M&A Replay: Viacom acquires AwesomenessTV; Facebook buys Israeli messaging platform: S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions for July 23-27.

M&A Replay: European deals: Qualcomm scraps NXP bid; Telefónica sells stake in unit: U.S. chipmaker QUALCOMM Inc. has dropped its bid to acquire Dutch rival NXP Semiconductors NV, while Spanish telecom giant Telefónica SA sold a stake in its unit Pontel Participaciones to a company of the Pontegadea Group.

Featured research

Wireless Investor: T-Mobile/Sprint deal pretty much the only game in town in Q2 at the FCC: T-Mobile's efforts to consolidate itself into a formidable, same-size competitor to Verizon Communications Inc. and AT&T Inc. took center stage at the Federal Communications Commission in the second quarter.

Economics of Networks: Premium network outlook buoyed by OTT: As consumer video behavior evolves to a more on-demand, skinny focus, premium networks have taken measures to change via alternative distribution, which appears to represent a significant long-term move.

Media & Communications Quarterly Industry Presentations — Q2'18: Kagan's latest quarterly presentation reports, examining industry trends and data for Internet Media & OTT, Programming & Film, Technology, U.S. Multichannel, Global Multichannel, Broadcast, Advertising, TV Networks, Mobile and Consumer Insights.

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 July 27.

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