* SoftBank Group Corp. has secured as much as $65 billion from four banks, in preparation for the company's possible takeover offer for Charter Communications Inc., Bloomberg News reports, citing sources. The funding has reportedly been in place for some time, with Charter's board privy to the information when it earlier rejected SoftBank's initial proposal. Charter shareholder John Malone, who owns about 21% of the company via Liberty Broadband Corp. Inc., reportedly agreed with the board's decision to reject SoftBank's initial proposal.
* After months of purported talks between Sprint Corp. and two cable giants ended without a formal agreement, analysts are divided over Sprint's next move.
* With its pending deal to acquire Scripps Networks Interactive Inc. in a transaction valued at $14.6 billion, Discovery Communications Inc. is betting that the combined company's enhanced content offerings will give it more clout when it comes to navigating the changing media landscape.
Internet & OTT
* An investor group led by investment funds managed by affiliates of Apollo Global Management LLC and the Ontario Teachers' Pension Plan Board completed the acquisition of CareerBuilder from TEGNA Inc., Tribune Media Co. and McClatchy Co. As part of the final agreement, TEGNA, which received gross proceeds of about $250 million from the sale, will continue to be a partner in CareerBuilder, reducing its previous 53% controlling interest to about 12% on a fully diluted basis. As a participant in the sale, Tribune Media will receive about $158 million in cash and will retain a roughly 7% ownership stake in CareerBuilder on a fully diluted basis. Meanwhile, McClatchy received $7.3 million in cash distributions from CareerBuilder and received $66.6 million in cash proceeds from the sale.
* Walt Disney Co.'s Marvel Television will shoot an additional 23 episodes of its Netflix Inc. TV series in New York by the end of 2017, increasing the overall count to 135 episodes, Deadline reports. The additional 23 episodes to be shot this year include Season 2 of "Iron Fist" and season 3 of "Daredevil," which more than doubles Marvel TV and Netflix's initial commitment of episodes to be shot in the state.
* Time Warner Inc.'s HBO confirmed that it experienced a cyberattack resulting in proprietary information and programming being stolen. The network would not address what content had been impacted, but issued the followed statement: "HBO recently experienced a cyber incident, which resulted in the compromise of proprietary information. We immediately began investigating the incident and are working with law enforcement and outside cybersecurity firms."
* Apple Inc. chose LG Display as its secondary supplier of organic light emitting diode, or OLED, displays for the iPhone, The Korea Herald's The Investor reports, citing industry sources. The companies are reportedly finalizing details of the deal, under which about 30,000 units are expected to be supplied for the iPhone starting in 2019.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng climbed 0.79% to 27,540.23, while the Nikkei 225 rose 0.30% to 19,985.79.
In Europe, around midday, the FTSE 100 gained 0.59% to 7,415.74 and the Euronext 100 rose 0.31% to 998.86.
On the macro front
The motor vehicle sales report, the personal income and outlays report, the Redbook, the PMI manufacturing index, the ISM manufacturing index, the construction spending report and the Gallup US ECI are due out today.
Discovery rings up 4% distribution revenues advance, despite U.S. sub decline: Discovery, which is paying $14.6 billion for Scripps in a transaction that is expected to close early in 2018, reported a 2% rise in total revenues to $1.75 billion during the three months ended June 30, up from $1.71 billion in the second quarter of 2016.
The Daily Dose Europe: Discovery buying Scripps Networks; consortium to buy Millicom unit: Discovery Communications struck a $14.6 billion deal to acquire Scripps Networks Interactive, while Luxembourg-based Millicom agreed to sell its Tigo Senegal unit to a consortium led by a holding company owned by Iliad founder Xavier Niel.
The Daily Dose Asia-Pacific: SoftBank's Son sets eyes on Charter; Apple picks LG unit as second OLED supplier: Apple has chosen LG Display to become its secondary OLED supplier for its upcoming iPhones, while Jasper Infotech-owned Snapdeal has terminated talks for its merger with Flipkart after nearly seven months of negotiations.
The week in OTT: Hulu, Warner Bros. ink VOD deal; YouTube launching new service: Hulu signed an exclusive streaming, subscription video-on-demand deal with Warner Bros. Domestic Television Distribution, while Google's YouTube is merging its Google Play Music and YouTube Red services to create a new streaming service.
Amazon's growth: a series of acquisitions, market debuts: S&P Global Market Intelligence provides a roundup of recent events related to Amazon's growth strategy.
M&A Replay: Priceline closes Momondo deal; Internet Brands buying WebMD: S&P Global Market Intelligence provides a wrap-up of U.S. companies' media and communications deal announcements and completions from July 24 to July 28.
M&A Replay: European deals through July 28: Vodafone, Hutchison, Priceline: S&P Global Market Intelligence provides a wrap-up of European media and communications deal announcements, completions and updates from July 24 to July 28.
Multichannel Trends: MVPDs expand TVE live linear offerings, prep OTT services in 2017: Live linear content availability expands significantly in 2017, as operators prep to launch OTT services for broadband-only homes.
Broadcast Investor: VSP & OTT live station streams bring on new affiliates: Hulu’s live TV service enters an increasingly crowded group of virtual service providers with one of the larger broadcast channel offerings, but other OTT and VSPs continue to add live stations, strengthening their position as cable alternatives.
Economics of Advertising: Indians lead SportsTime Ohio to top of RSN prime-time ratings in June: SportsTime Ohio (in Cleveland-Akron-Canton) scored the highest prime-time rating among regional sports networks in June with a 3.79.
Broadcast Investor: Deal market June – A slow end to a vibrant half-year: Thanks to two billion-dollar deals, the broadcast deal market closed the first half of 2017 with a total volume of $7.19 billion, the highest first-half number in ten years.
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 28.
Broadcast Investor: Deal market Q2'17 — TV takes lead over radio: With the spectrum incentive auction done and new regulations on the horizon, the TV deal market picked up pace and delivered a multibillion-dollar deal.
Global Multichannel: Global markets update – Taiwan, Thailand, Turkey and Trinidad & Tobago: Kagan has published updated Global Multichannel & Broadband analysis for four markets.
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