* Amazon.com Inc. launched a new paid music streaming service that offers tens of millions of songs ad-free and with unlimited skips. The service, called Amazon Music Unlimited, costs $7.99 per month for Amazon Prime members, $9.99 per month for non-Prime members and $3.99 per month for a single Amazon Echo, Echo Dot or Amazon Tap device.
* Samsung Electronics Co. Ltd. formally ended sales and production of its beleaguered Galaxy Note 7 devices, Reuters reports, citing a filing made to the Seoul stock exchange. "[We] have decided to halt production and sales of the Galaxy Note 7 in order to consider our consumers' safety first and foremost," the company stated in the filing. Samsung is offering customers refunds or exchanges for a different device, according to the report.
* Apple Inc. is opening a research and development center in Shenzhen, China, after announcing a similar hub in Beijing earlier this year, Reuters reports. The company's CEO Tim Cook reportedly announced the plan during a meeting with senior officials from the Shenzhen where he was attending an innovation event.
* European investment firm BC Partners is currently leading among companies bidding on the data center business of CenturyLink Inc., Reuters reports, citing people familiar with the matter. CenturyLink hopes to get more than $2.5 billion for its data centers.
* Sprint Corp. commenced a private placement of up to $3.5 billion of notes backed by a portion of its 2.5GHz and 1.9GHz spectrum holdings to raise cash to fund its business. Sprint wants the airwaves portfolio, which would be nearly 14% of Sprint’s total spectrum holdings on a MHz-pops basis, to be leased back to the company, according to a news release.
* Comcast Corp. will pay a $2.3 million fine to settle an FCC investigation into whether the company wrongfully charged its cable TV customers for services and equipment they did not authorize. The FCC said in a news release that it received numerous consumer complaints about being charged for services or products even though they had declined those services or had not ordered the equipment.
Internet & OTT
* Google Inc. acquired Santa Monica, Calif.-based digital marketing firm FameBit, which owns an online marketplace that connects video content creators with brands. The deal, financial details of which were not disclosed, is expected to help generate more branded video deals on Google's video platform YouTube, according to an Oct. 11 post on YouTube's official blog.
* Amazon is expanding further into the grocery business with plans to add convenience stores to its operations along with curbside pickup for online purchases, the Journal reports, citing people with knowledge of the matter. The bricks-and-mortar stores would be used to sell perishable items such as milk and meat, while for items that have a longer shelf life, customers could use either their mobile phones or touchscreens posted around the store to place orders.
* Netflix Inc. is adding a new Mexican series to its slate of original productions filmed in Latin America. Created and directed by filmmaker Manolo Caro, the untitled 13-episode dark comedy will begin filming in Mexico in early 2017 and will be available across all 190 Netflix territories, according to a news release.
The day ahead
U.S. markets are expected to start the day's trading on a lower note as the Nasdaq composite index, the S&P 500 and the Dow Jones Industrial Average were trading below fair value in early morning futures trading.
In Asia, the Hang Seng dropped 0.60% to 23,407.05, and the Nikkei 225 was down 1.09% to 16,840.00.
In Europe as of midday, the FTSE 100 was down 0.24% to 7,053.66, and the Euronext 100 had fallen 0.06% to 883.03.
On the macro front
The Bank Reserve Settlement report, the MBA mortgage applications report, the JOLTS report and the FOMC minutes are due out today.
The Daily Dose Asia-Pacific: Samsung kills Galaxy Note 7 production; Google faces probe in Korea: Samsung Electronics decided to permanently end production and sales of its Galaxy Note 7 worldwide, while Google will be investigated by the Korea Fair Trade Commission to determine whether it breached competition rules regarding Android phones.
Washington Watch: Searching for a true BDS compromise: The FCC is ready to compromise on the business data services market.
Tech Time: Alphabet units, others form AI partnership: In this feature, S&P Global Market Intelligence presents a bi-weekly global roundup of the latest developments in technology.
Africa and Middle East video spotlight: YouTube debuts hub for African TV series: In this monthly feature, S&P Global Market Intelligence provides a roundup of news related to over-the-top, video-on-demand and other online video initiatives in different African and Middle Eastern markets.
The Daily Dose Europe: Bolloré ups Vivendi stake; Vodafone launches Vodafone Pay in UK: Bolloré Group raised its holding in Vivendi above the 20% threshold, while Vodafone launched Vodafone Pay in the U.K., in partnership with PayPal.
Hires and Fires: Asia-Pacific Media & Comm moves through Oct. 10: Alibaba, NBN, AIS: S&P Global Market Intelligence presents a monthly rundown of executive and board changes in the Asia-Pacific media and communications industries.
Multichannel Trends: September 2016 cable TV financing snapshot: The cable TV financing snapshot table lists monthly totals for cable industry public and private debt, equity and stock buybacks from a historical range of years to the present.
Multichannel Trends: September cable system sales summary: The cable system sales summary lists monthly deal data including basics, homes passed, total value, value per sub and per home passed, and cash flow multiples.
Multichannel Trends: Legacy multichannel cash flows top Netflix's despite margin deficit: Netflix's strategic focus on subscriber growth has translated into a monthly video ARPU roughly 9% of the average for the top four traditional multichannel platforms. However, data reveals a significantly higher video profitability, with cash flow margins more than double that of its top multichannel competitors.
Economics of Advertising: Print ad revenue for business publications to fall below $2B in 2016: For the first time in over three decades, print advertising revenues from the business publications sector is expected to drop below the $2 billion mark in 2016 at $1.99 billion, down 3.4% year over year.
Economics of Advertising: Print Yellow Pages publishers struggle in a fragmented media landscape: The growing preference for online sources like search engines, company websites and social networks, especially among millennials, has meant huge ad revenue losses for the print Yellow Pages industry.
Global Multichannel: Sky future-proofing through OTT platform expansion: By buying in to digital platforms to alleviate the risk from disruptive services closely connected to its core entertainment business, Sky plc is laying a necessary foundation for global growth.