Top News
* Following a controversial tweet by the show's star, Walt Disney Co.'s ABC (US) canceled sitcom "Roseanne." The network's axing of the revived comedy came after Roseanne Barr called former President Barack Obama adviser Valerie Jarrett an offspring of the "Muslim Brotherhood & Planet of the Apes." Barr subsequently apologized.
* Disney is prepared to offer 21st Century Fox Inc. significant cash, if needed, in an effort to fight off any competing bids from Comcast Corp., CNBC.com reports, citing sources. Fox has agreed to sell a broad swath of its movie and TV assets for $52.4 billion in stock to Disney, but Comcast recently said it also was in advanced stages of preparing an all-cash counteroffer. Disney is reportedly lining up banks in case the Fox board demands cash for its media assets.
* Controlling shareholder National Amusements Inc. escalated its legal dispute with CBS Corp. by filing a lawsuit against CBS Chairman, President and CEO Les Moonves, and most of the CBS board. In a complaint filed in Delaware Chancery Court, NAI asked the court to stop CBS' board from trying to dilute the shareholder's voting control in the company.
TV Networks
* Some Viacom Inc. networks are pulling reruns of the original "Roseanne" series, starting May 30, Multichannel News reports, citing a confirmation by a company spokesman. The networks that will stop carrying episodes from the show's original run are Paramount Network (US), CMT (US) and TV Land (US). Comedy-themed broadcast diginet service Laff also removed the series from its lineup.
* In related news, a spokesperson for Hulu LLC said the company supports ABC's decision, and it also is removing the original "Roseanne" series from Hulu, Variety reports.
* Comcast won the dismissal of a complaint filed by The Word Network (US) with the Federal Communications Commission, Multichannel News reports. While dismissing the complaint, the FCC's Media Bureau ruled that Comcast did not violate the exclusivity and unfair practices conditions imposed in its merger with NBCUniversal Media LLC. The Word Network, a religious network targeted to African Americans, had asked the FCC and the U.S. Federal Trade Commission to investigate "the unjust removal" of The Word Network by Comcast.
Internet & OTT
* Netflix Inc. greenlit a supernatural drama series, "Chambers." The series, which will feature 10 episodes, stars Uma Thurman as a mother of a heart donor who forges a hesitant relationship with the young recipient of the heart, according to a news release.
Technology
* S&P Global Market Intelligence sat down with George Ong, CEO of Hong Kong-based software firm Axisoft, to discuss China's rapidly growing tech sector, the country's artificial intelligence potential and recent sanctions by the U.S.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng was down 1.40% to 30,056.79, while the Nikkei 225 fell 1.52% to 22,018.52.
In Europe, around midday, the FTSE 100 rose 0.26% to 7,652.56, and the Euronext 100 gained 0.07% to 1,053.60.
On the macro front
Reports due out today include MBA mortgage applications, ADP employment, retail inventories, wholesale inventories, international trade in goods, Redbook and Beige Book.
Featured news
The Daily Dose Europe: Iliad launches in Italy; Rocket Internet to invest €2.6B in AI, fintech: French operator Iliad has launched its mobile business in Italy, while Germany's Rocket Internet SE is eyeing investments worth €2.6 billion in fintech and artificial intelligence startups.
The Daily Dose Asia-Pacific: Google to launch AR app in China with Xiaomi; Apple to switch to OLED screens: Google Inc. teamed up with Xiaomi Inc. to introduce its ARCore technology for phones in China, while Apple Inc. will use OLED screens for all three of its iPhones planned for 2019.
The week in OTT: Amazon picks up 'The Expanse'; Verizon nixes OTT service plans: Amazon.com Inc. picked up sci-fi series "The Expanse" for a fourth season after it got canceled by Syfy (US), while Verizon Communications Inc. nixed plans to launch its own over-the-top service.
Trump wants ZTE to pay US$1.3B fine; Facebook sues South Korean watchdog: U.S. President Donald Trump will let ZTE Corp. "reopen" in the country if it agrees to pay a fine of US$1.3 billion and consent to management changes, while Facebook Inc. filed a lawsuit against the Korea Communications Commission.
Featured research
Global Multichannel: Global markets update — Italy, Jamaica, Iraq, Oman, Qatar: Kagan has published updated Global Multichannel & Broadband analysis for five markets.
Consumer Insights: Survey shows that Europeans love Netflix: Survey results reveal that approximately half of Netflix subscribers in select European countries access the service multiple times each week, and at least two-thirds access the service at least once a week.
Consumer Insights: PlayStation Vue user profile: A young user base looking for value embraces digital video content across platforms.
Multichannel Trends: Q1 cable CapEx grows 14% YoY as momentum shifts behind broadband: On aggregate, the six operators under our analysis saw a 14% rise in quarterly capital expenditure to $4.31 billion over the year-ago period.
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