trending Market Intelligence /marketintelligence/en/news-insights/trending/zJ1Wik_HtBtClF1zsjhi_g2 content esgSubNav
In This List

Disney, Fox nearing deal; Apple could save $47B under US tax reform proposal


Next in Tech | Episode 171: Concerns About Fraud Drive AI Investment


MediaTalk | Season 2
EP 16 - Streamers' Quest for Profitability: Ads vs. Price Hikes


Next in Tech | Episode 170: Corporate Language Analysis in Pride Month


MediaTalk | Season 2
EP 15 - Talking a 'Transformational' Upfront with A&E

Disney, Fox nearing deal; Apple could save $47B under US tax reform proposal

Top News

* Walt Disney Co. and 21st Century Fox Inc. are nearing a deal for certain Fox assets that could be valued at more than $60 billion, reports, citing sources with knowledge of the matter. A potential transaction could be announced in the week of Dec. 11.

* Apple Inc. could save up to $47 billion if a new U.S. tax proposal gets passed, according to calculations by tax experts and London's Financial Times. Details of the proposed legislation have yet to be finalized, but it suggests taxing foreign earnings at no more than 14.5%, whether they are brought back to the U.S. or not. Under current U.S. laws, Apple would pay 35% corporate tax if it brought home its foreign earnings.

* After Charlie Ergen stepped down as CEO of DISH Network Corp., analysts said in interviews that because the company's satellite business is largely back on track, Ergen is free to focus on the part of DISH's business that still needs the most attention: wireless. The move is reminiscent of 2011, when Ergen relinquished his CEO role only to reclaim it roughly four years later when DISH's satellite business was struggling.

* The Federal Communications Commission's vote on overhauling its net neutrality regulations is approaching. But data from the Pew Research Center has called into question the validity of many of the public comments filed in the proceeding.

Film & TV

* Lions Gate Entertainment Corp. will not be releasing John Travolta's Mafia biopic "Gotti," reports. Lions Gate also sold the movie back to production company Emmett/Furla/Oasis Films, sources with knowledge of the matter reportedly said. The movie was scheduled to be released Dec. 15.

* Time Warner Inc.'s HBO (US) and CBS Corp.'s CBS (US) halted the production of "Westworld" and the "S.W.A.T" reboot, respectively, due to the unsafe environment created by California wildfires, Variety reports, citing separate statements.

Internet & OTT

* Google Inc. yanked access to YouTube from some Inc. devices over "lack of reciprocity" from the online retailer, The Wall Street Journal reports, citing a Google spokeswoman. The Alphabet Inc. unit said it disabled YouTube access on the Echo Show and plans to block YouTube on Fire TV on Jan. 1, 2018, because does not sell competing products like the Google Home smart speaker or the Chromecast streaming device. Also, Google said Amazon's Prime Video content cannot be accessed on Chromecast.

* Google updated the search and discovery functionality on its search website. According to an official blog post, Google introduced Featured Snippets with more images and related searches and updated Knowledge panels in search to show related content in a bid to improve user experience.


* En-Touch Systems Inc. filed an antitrust lawsuit against AT&T Inc. and its subsidiaries for demanding an "exorbitantly" high price for the carriage of AT&T SportsNet Southwest (US). The regional sports network has exclusive rights to carry Houston Astros and Houston Rockets games.

* Apple launched a pay-per-install advertising product called Search Ads Basic for developers, reports. The new feature will let developers pay for app installations as a result of ad placements.

The day ahead

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

In Asia, the Hang Seng fell 2.14% to 28,224.80, and the Nikkei 225 was down 1.97% to 22,177.04.

In Europe, as of midday, the FTSE 100 climbed 0.07% to 7,332.69, and the Euronext 100 had fallen 0.63% to 1,035.28.

On the macro front

The Bank Reserve Settlement report, MBA mortgage applications report, the ADP employment report, the Productivity and Costs report, the EIA petroleum status report and the Treasury STRIPS report are due out today.

Featured news

The Daily Dose Europe: Warburg Pincus to sell Inea stake; Cineworld agrees to buy Regal: Funds associated with Warburg Pincus will sell a majority stake in Inea SA, while Cineworld Group plc has agreed to acquire Regal Entertainment Group.

The Daily Dose Asia-Pacific: US court OKs Alibaba IPO lawsuit; iflix orders first Malaysian original: A U.S. appeals court said Alibaba Group Holding Ltd. will have to defend itself against shareholder accusations over its 2014 IPO, while Southeast Asian subscription video-on-demand service iflix commissioned its first Malaysian original drama series.

Conference Chatter: Multichannel Summit panel: Regional factors dampen M&A in European telecoms: Despite low interest rates and supportive macroeconomic conditions, there has been a plunge in regional telecoms M&A relative to recent years, industry observers discussed at S&P Global Market Intelligence's European Multichannel Summit in London.

Featured research

Economics of Networks: AT&T not going down without a fight in efforts to buy Time Warner: AT&T attorneys are girded for battle with the DOJ over the pending deal to buy Time Warner, now more than a year in the making. They outlined their opposition to the government's arguments in a Federal Court filing in Washington, D.C.

Economics of Networks: A marriage made in heaven: ESPN and Fox regional sports networks: It has been rumored for weeks that Disney was bidding on a number of Fox assets including its movie studio. Added to the mix now are the FOX Sports RSNs, Star TV and a stake in Sky plc, making a deal much more attractive.

Consumer Insights: IPhone users more likely to upgrade when a new phone emerges: Smartphone owners in the U.S. are willing to forgo the latest model in favor of using their current device as long as they can.

Economics of TV & Film: Gru and the gang's 3rd go-round pegged as top December video release: A couple more summer hits are ready to hit shelves in December in time for the holiday shopping season. Kagan estimates that the animated hit "Despicable Me 3" will end up being the top video release of the month.

Economics of Internet: Pandora posts mixed results in Q3; growth expected over the long term: Pandora Media Inc. reached third-quarter revenue of $378.6 million, up 7.6% year over year; however, a soft advertising market and the effort it will take to improve its ad technology have guidance tame through the end of 2017.

The Daily Dose is updated as of 7 a.m. ET. Some external links may require a subscription.

Article amended at 10:15 am ET to clarify that Disney and 21st Century Fox are nearing a deal for certain Fox assets.