LT Weekly: Sep 27, 2024

Advertising/Ad Agencies/Ad Tech

• Amazon’s video ad rev for the 2024-25 upfront period has exceeded the co’s internal target of $1.8bn, a source has confirmed to Deadline. The strong buy-in from advertisers follows a move last Jan. by Prime Video to start running ads on all film and TV titles in the US and nine other countries, except for subscribers willing to pay extra to avoid ads. (Deadline)
• Google has closed its ad ecosystem to third-party ad verification firms, citing security concerns. This decision follows the discovery of the 3ve ad fraud operation, which exploited vulnerabilities in the ad ecosystem. Google aims to prevent similar fraud by tightening control over ad verification processes. The move has raised concerns about transparency and the potential impact on advertisers. (The Verge)
• Lamar Advertising Co annc’d that its Board of Directors has approved the extension of the co’s stock and debt repurchase initiatives. The programs, initially set to conclude on September 30, 2024, will now continue until March 31, 2026. The repurchase plans allow for the buyback of up to $250mn of Lamar’s Class A common stock and a similar amount for the debt repurchase program managed by its wholly-owned subsidiary, Lamar Media Corp. (Investing.com)
• Omnicom’s precision marketing division, Omnicom Precision Marketing Group (OPMG), has acquired LeapPoint, a digital advisory firm specializing in marketing lifecycle optimization. The acquisition strengthens OPMG’s content supply chain capabilities and positions it as a leader in digital transformation. (STOCKTITAN)
• Sinclair is expected to post higher earnings for the yr as political ad spending continues to balloon. The co disclosed that it now expects political ad spending to be between $442mn and $469mn for the yr, an increase of about $60mn. For Q3, ad revenue is expected to range from $149mn to $145mn, up from the previous estimate of $113mn to $128mn. (Broadcasting Cable)

Artificial Intelligence/Machine Learning

• Britain’s competition regulator said Amazon’s artificial intelligence partnership w/ startup Anthropic will not be referred for a deeper probe as it did not raise competition concerns. The Competition and Markets Authority said the partnership, which includes a $4 bn investment by Amazon in Anthropic, did not qualify for investigation under Britain’s merger regulations. “We welcome the UK’s Competition and Markets Authority (CMA) decision acknowledging its lack of jurisdiction regarding this collaboration,” an Amazon spokesperson said in response to the regulator’s decision. (AOL)
• For the first time, OpenAI will provide access to its training data for review of whether copyrighted works were used to power its technology. In a filing, authors suing the Sam Altman-led firm and OpenAI indicated that they came to terms on protocols for inspection of the information. They’ll seek details related to the incorporation of their works in training datasets, which could be a battleground in the case that may help establish guardrails for the creation of automated chatbots. The agreement stems from a trio of lawsuits initiated by top authors accusing OpenAI of harvesting mass quantities of books across the web, which were then allegedly used to produce infringing answers by ChatGPT. (The Hollywood Reporter)
• Google paid $2.7bn to rehire an AI genius that left the tech giant in a huff three yrs ago to found his own startup, per a report. Noam Shazeer, a 48-yr-old software engineer who was first hired by Google as one of its first few hundred employees back in 2000, left the Co in 2021 after it refused his request to release a chat bot that he had developed w/ a colleague, Daniel De Freitas. Shazeer and De Freitas went on to found Character.AI. (New York Post)
• Kamala Harris said that she would boost investments in artificial intelligence and cryptocurrency. “I will bring together labor, small business founders and innovators and major companies,” she said. “We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors,” she added during the event at Cipriani Wall Street in NY, which raised $27mn. It’s the first time Harris has openly commented on cryptocurrency as a presidential candidate. (Bloomberg)
• Mark Zuckerberg envisions content creators using AI to scale their reach by creating AI clones of themselves. In an interview, he explained that these AI clones could handle community engagement, allowing creators to focus on other tasks. Zuckerberg believes this approach will help creators reflect their values and objectives through AI, enhancing their interaction with audiences. (The Verge)
• Microsoft is launching a new feature called “correction” that builds on the co’s efforts to combat AI inaccuracies. Customers using Microsoft Azure to power their AI systems can now use the capability to automatically detect and rewrite incorrect content in AI outputs. The correction feature is available in preview as part of the Azure AI Studio — a suite of safety tools designed to detect vulnerabilities, find “hallucinations,” and block malicious prompts. (The Verge)
• OpenAI’s chief research officer, Bob McGrew, and a research VP, Barret Zoph, left the co on Wednesday (Sep 25), hours after OpenAI CTO Mira Murati annc’d she would be departing. Matt Knight, formerly head of security, will be OpenAI’s chief information security officer. Chief product officer Kevin Weil and VP of engineering Srinivas Narayanan will continue to lead OpenAI’s applied team, which is responsible for bringing the co’s tech to both enterprise and consumer customers. (TechCrunch)
• The European Commission has revealed a list of the first 100-plus signatories to the AI Pact. While the bloc’s legally binding risk-based AI rulebook (the AI Act) entered into force last month, it will be several yrs before all its compliance deadlines are in operation. There are also three “core actions” that Pact signatories are expected to commit to (at a minimum): Adopting an AI governance strategy; Identifying and mapping AI systems likely to be categorized as high-risk; and promoting AI awareness and literacy among staff. (TechCrunch)
• The FTC is cracking down on cos making big claims about AI. On Wednesday (Sep 25), the FTC annc’d cases against four bizs the commission claims made “allegedly deceptive claims about AI-driven svs” to market and sell their bizs. FTC annc’d a settlement with another co that allowed users to create fake customer reviews using GenAI tools. It said that AI writing co Rytr agreed to a proposed settlement over claims it sold a tool that it said could write and publish fake customer reviews for bizs. (Marketing Brew)

Audio/Music/Podcast

• Spotify annc’d updates for podcast creators. More specifically, the Spotify for Podcasters platform is adding new conversion metrics for both hosted and non-hosted creators. As annc’d by Spotify in a blog post, the new metrics allow podcasters to see how their shows are discovered on Spotify via Home, search, or library. The platform will also show data on how discovery is directly converted into streams. (9to5Mac)

Broadcast/Cable Networks

• Sky and UKTV have annc’d a multi-yr extension to their long-standing partnership. The new agreement means that Sky and NOW customers can continue to watch the channel brands including Gold and Alibi and popular programming from UKTV including drama titles Murdoch Mysteries, The Red King and CSI: Vegas, comedy in the form of Only Fools And Horses, Dad’s Army and The Vicar of Dibley, and entertainment including World’s Most Dangerous Roads, Battle In The Box, and upcoming documentary Absolutely Fabulous: Inside Out, and much more. (ADVANCED-TELEVISION)

Broader Media & Entertainment

• British real estate portal Rightmove rejected a sweetened $8. 1bn takeover proposal from Rupert Murdoch-owned Australian property listing firm REA Group, saying the increased bid was still “unattractive”. “The board considered the increased proposal… and concluded that the increased proposal continues to be unattractive and materially undervalues the Co and its future prospects,” Rightmove said in a statement. (Yahoo Finance)

Cable/Pay-TV/Wireless

• According to TVRev, private equity firms are investing heavily in broadcast TV, attracted by steady retransmission fees and political ad revenue. However, this influx of capital risks destabilizing the industry, prioritizing short-term profits over long-term sustainability. Leveraged buyouts could lead to debt-laden companies, reduced local news quality, and less diverse media ownership, ultimately harming public interest. (TVREV)
• Anthem Sports & Entertainment said it has agreed to buy Hollywood Suite, which owns and operates four linear TV channels in Canada. The acquisition would double the number of channels Anthem offers to Canadian viewers. Hollywood Suite will continue to be managed by its co-founder and president, David Kines. The networks are available in about 10mn homes via distributors including Rogers Communications, Bell, Telus, Amazon Prime Video, Cogeco, Eastlink and Freedom Mobile. (Broadcasting Cable)
• Comcast and Charter Communications annc’d a new partnership w/ Broadcom to jointly develop a new silicon standard capable of delivering downstream speeds of up to 25 gigabits per second over cable’s traditional hybrid fiber-coax wires. The Cos billed the standard as the launch of “DOCSIS 5.0” — a new version of the Data Over Cable Service Interface Specification, which the cable industry uses to transmit data. (NextTV)
• Global 5G connections exceeded 2bn connections at the end of the Q2 of the yr, w/ the addition of 192mn connections during the period, according to a new report by 5G Americas and Omdia. The report suggests that global 5G connections will reach 8.6bn by 2029. As a share of all wireless cellular technologies, 5G is expected to account for 59% of global access networks by 2029, according to 5G Americas. Currently, there are 329 commercial 5G networks worldwide. (RCR Wireless News)
• In a move aimed at bolstering competition in the wireless market, the FCC has granted DISH’s parent co, EchoStar, an extension on its 5G network buildout. This decision allows EchoStar, the parent co of Boost Mobile, to continue its plan to build a nationwide 5G network despite financial hurdles. EchoStar will now have a more flexible timeline to complete its network. (Cord Cutters News)
• Italy is preparing a new bid to acquire Telecom Italia SpA’s submarine cable unit, Sparkle, in a consortium w/ Spain’s Asterion Industrial Partners, La Repubblica reported. The offer is expected to be slightly above the €750mn ($837mn) proposal made earlier this yr, which was rejected by Telecom Italia. CEO Pietro Labriola aims to play an active role in Italy’s telecom consolidation, following Swisscom’s €8bn deal to merge Vodafone Italia w/ Fastweb. (Amwal Al Ghad)
• Rogers Communications will begin an industry-first implementation of Comcast’s leading network design the two cos annc’d. With this collaboration, Rogers will advance its roadmap to deliver faster speeds, enhanced reliability, and lower latency across its footprint like what Comcast has made accessible to more than 60mn homes and bizs in the US. The effort continues Comcast’s expansion of its global technology platform, allowing svs providers across the globe to deliver next-generation connectivity and entertainment experiences. (Comcast)
• T-Mobile has introduced T-Priority, a new 5G network slice dedicated to first responders. This service ensures lower latency and faster speeds, even during high congestion. The City of New York is the anchor customer for this initiative, which aims to provide advanced connectivity solutions for emergency services. T-Priority includes priority access, preemption for voice and data, and a dedicated emergency response team. (Fierce Network)
• Telefonica is pushing ahead w/ plans to launch and monetize a new fibre JV w/ Vodafone in Spain, essentially replicating a model that has worked well for it in LatAm. The telcos confirmed that through what they are calling FibreCo they plan to roll out a joint fiber network covering 3.5mn premises. They also disclosed that they would bring in a third-party financial investor, but that Telefonica would likely retain majority ownership, while Zegona would keep a 10% stake. (TELECOMS)
• The number of global cellular IoT connections jumped 24% in 2023 to finish the yr at 3.3bn, according to Counterpoint Research. The number will increase by 88% (at a compound growth rate of 10% per yr) to reach 6.2bn by 2030 according to Counterpoint Research, which has updated its IoT Connections Tracker to also forecast that total revenues from cellular IoT will surpass $26bn by 2030 – which is up 90% from $13.7 bn in 2023, which is up 17%, in turn, on 2022. (RCR Wireless News)
• Windstream sold a $1.3bn loan and bond package to refinance its existing debt, securing more favorable terms after the offering gained traction among investors. The deal for the telecommunications firm includes a $500mn seven-yr term loan and $800mn of seven-yr senior secured first-lien notes that are callable in three yrs. Proceeds will be used to refinance two outstanding loans due 2027 and for general corporate purposes, including investments in the firm’s network, the people said. (Bloomberg)

Cloud/DataCenters/IT Infrastructure

• Google filed an antitrust complaint at the European Commission against Microsoft over alleged anticompetitive practices in its cloud licensing system. The complaint targets Microsoft’s cloud platform Azure, which Google argues restricts European customers from moving their workload to competitors’ cloud systems. Google claims that the platform locks customers in through the Windows server. (euronews)

Crypto/Blockchain/web3/NFTs

• PayPal annc’d it is enabling its US merchants to buy, hold and sell cryptocurrency directly from their PayPal biz account. PayPal is enabling US merchants to externally transfer cryptocurrency on chain to third-party eligible wallets. PayPal biz account holders can now send and receive supported cryptocurrency tokens to and from external blockchain addresses. (PRNEWSWIRE)
• The SEC has approved options trading for BlackRock’s Bitcoin ETF, iShares Bitcoin Trust. This approval is expected to lead to a gamma squeeze, where increased options trading could drive up the ETF’s price. The approval follows a successful launch of the ETF, which quickly gained significant assets under management. This development is seen as a positive step for the broader acceptance and integration of Bitcoin in traditional financial markets. (CryptoSlate)

Cybersecurity/Security

• China-connected hackers, identified as Salt Typhoon, breached multiple US broadband networks to steal sensitive data and establish persistence, the Wall Street Journal reported, citing sources familiar w/ the matter. As the report noted, it marks the latest in a series of hacks that investigators in the US say are connected to China. The hack involved an incursion into US broadband networks, w/ cybercriminals setting up a foothold inside the network that let them access data stored by telecommunications cos or carry out cyberattacks. (PYMNTS.com)

eCommerce/Social Commerce/Retail

• A Ryder System study reveals a 21% increase in in-store shopping sentiment, with 61% of consumers enjoying the experience of trying on products and comparing items. The study surveyed over 1,300 U.S. shoppers and found that 55% prefer returning online purchases in-store, up 15% from last year. Mobile devices play a significant role, with 77% of shoppers using them to search for items while in-store. (WWD)
• Amazon Fresh plans to debut a store in Oxford Valley, Pennsylvania, and opened new locations in Fontana and Elk Grove, California, on Sept 12, according to a spokesperson. The new locations bring Amazon Fresh’s fleet to 52 stores in eight states. Amazon recently accelerated development of the supermarket chain after pausing its efforts to expand the concept early last yr. (Retail Dive)
• China’s Meituan is aiming to raise up to $2bn in a bond deal. The co is planning to raise $1bn from each of the tranches, the sources said. Initial price guidance for the 3.5-yr bond is 3-yr Treasuries plus about 145 basis points. For the longer-dated bond, guidance is 5-yr Treasuries plus about 160 basis points. Meituan plans to use the funds to refinance upcoming offshore debt, the term sheet said. (MarketScreener)
• Costco Wholesale missed market expectations for Q4 rev due to cautious spending by budget-conscious customers at its membership-only stores, as well as an impact from lower gasoline prices. While ultra-low prices on groceries and other kitchen staples is driving demand for essential products, consumer spending on big-ticket categories such as furniture, home and sporting goods has been choppy, hurting sales at Costco’s warehouses. (1450 AM 99.7 FM WHTC | Holland)
• eBay UK has launched its new consignment svs for luxury items, giving users direct access to expert sellers who will list and sell their items on their behalf. The Co has partnered w/ experienced luxury seller, Luxe Collective to power the svs, known for selling coveted pre-owned luxury goods, and eBay said the biz brings “unrivalled expertise to the consignment svs”. Launching initially for designer handbags, consumers can list and sell their new and pre-owned handbags from top brands across all price points. (Retail Gazette)
• Jesse Palmer, TV personality and former football player, has launched a new clothing line with Fanatics called “J. Palmer.” The collection is designed for sports fans who want stylish, high-end fashion. It includes 13 pieces such as shorts, joggers, shirts, quarter zips, full zips, and a blazer. The line features advanced performance fabrics and subtle team accents. It is licensed with all 32 NFL teams and several NCAA schools. (FashionNetwork.com)

• Nike’s stock surged over 8% following the announcement that Elliott Hill will replace John Donahoe as CEO. Hill, a longtime Nike executive, is expected to rejuvenate the brand and address challenges such as rising competition and changes in distribution. Analysts are optimistic about Hill’s appointment, viewing it as a positive step towards accelerating Nike’s turnaround. (New York Post)
• Shares of H&M tumbled as much as 8% after the co posted a miss on operating profit and abandoned its earnings margin target. The co reported that operating profit for the group’s fiscal Q3 came in at 3.51bn Swedish crowns ($345.8 mn), which compared to 4.74bn Swedish crowns a yr ago. H&M dropped its earnings margin target for 2024 after warning of more challenging conditions earlier in the yr. (CNBC)
• Stitch Fix said its Q4 net rev fell -12.4% y/y to $319.6mn, and accounting for an extra week in its fiscal yr, net rev fell -18.3%. Number of active clients declined by 613,000 — down -19.6% y/y and 4.7% from the previous quarter — to 2.5mn. Lower transportation costs helped push gross margin up 50 basis points to 44.6%. (Retail Dive)
• Wayfair is looking to borrow $700mn from the junk-bond market to refinance existing maturities. The company announced plans to offer senior secured notes due 2029. Goldman Sachs previously held meetings with leveraged finance investors to gauge their appetite for debt from Wayfair, Bloomberg reported. The co has ~$870mn of convertible debt due by the end of 2025, according to data compiled by Bloomberg. (Bloomberg)

EV/ Autonomous Vehicles

• Critical parts of connected vehicles in the US could soon be guaranteed free of Russian and Chinese-made components. A recommended ban on hardware and software components from Russia or China in connected vehicles has been published via a Notice of Proposed Rulemaking (NPRM) by the US Department of Commerce’s Bureau of Industry and Security (BIS). The proposed rule focuses on the vehicle connectivity system (VCS) and the automated driving system (ADS). (Infosecurity Magazine)
• Drive Pilot, Mercedes-Benz’s Level 3 “conditionally automated driving” feature, is getting a speed bump. The system will now support speeds of up to 95km/h (59mph) on German motorways, a sign that the co is feeling bullish about its boundary-pushing technology. Mercedes is still waiting for approval from German regulators before pushing out a software update to customers of vehicles that support Drive Pilot. (The Verge)

Film/Studio/Content/IP/Talent

• According to Hawaii Tribune-Herald, TV comedies are facing significant challenges as Hollywood cuts back on new series. The number of comedy premieres fell by 7% in 2024, while drama series increased by 25%. Factors include the rise of social media platforms like TikTok, which offer free short-form comedy, and the global preference for dramas. Additionally, media companies are reducing investments in comedy channel. (HAWAIITRIBUNE-HERALD)
• John Malone, a key investor and board member of Warner Bros. Discovery, praised CEO David Zaslav’s energy and highlighted WBD’s strong balance sheet. Despite challenges, Malone sees potential in WBD’s international growth and creative talent. He discussed the competitive pressures from Big Tech and the high costs of sports rights. Malone also mentioned the ongoing merger talks between Liberty Broadband and Charter Communications. (Deadline)

FinTech/InsurTech/Payments

• Visa has agreed to buy Featurespace, an AI-focused enterprise tech firm, for an undisclosed amount. Featurespace develops real-time AI payments protection technology to prevent fraud and financial crime. The acquisition aims to enhance Visa’s ability to manage fraud in real time and protect its payment ecosystem. (Yahoo Finance)

Handheld Devices & Accessories/Connected Home

• Parks Associates has partnered w/ Xailient to issue a new white paper, Video at the Door: Driving New Revenues, that estimates that smart video devices generated $1 3bn in stand-alone svs revenues in 2023 and that those svs revenues will jump to $2.4bn by 2027. (TVTechnology)

Last Mile Transportation/Delivery

• Boots has partnered w/ Just Eat to deliver on-demand beauty and healthcare products to customers across the nation. The health and beauty co has stocked the platform w/ over 1,000 products which are now available to order. The partnership will initially launch w/ 50 sites across the UK including London, Birmingham, Manchester, Leeds, Glasgow and Edinburgh, but there are plans to follow up w/ 100 more by spring 2025. (Retail Gazette)
• Swiggy has filed for a $1.25bn IPO in India in what could be one of India’s biggest listings this year. Swiggy is selling shares worth 37.5bn rupees ($448.56 mn), while existing shareholders including Prosus, Accel India and Tencent Europe will sell about 185.3mn shares, the co said in its draft prospectus. The Bengaluru-based startup is targeting a valuation of $15 bn through the offering, said the source, who had direct knowledge of the matter. (AOL)

Live Entertainment/Theme Parks/Concerts/Experiential

• Live Nation Entertainment has unveiled plans for a new 50,000-seat stadium in north Toronto to host top global music acts. Rogers Stadium, to be built on a former runway, will open in Jun. 2025 on former Downsview Airport lands earlier slated to host a giant film studio complex. The property developer has an option to revive plans for a film studio development in the future. The outdoor Rogers Stadium will be built on the north end of the runway, not where the film studio was planned. (The Hollywood Reporter)

M&A

• Global M&A activity is expected to slow in Q4 2024 as companies delay major deals ahead of the US elections. This follows an uneven Q3, with US M&A volume down 8% to $338B due to stock market fluctuations, regulatory scrutiny, and interest rates. However, Asia-Pacific saw a 54% increase to $273B, and Europe rose 7% to $160B. Dealmakers anticipate a rebound in 2025, driven by lower interest rates and a stable economic outlook. (XM – Global Broker in Forex and CFD Trading)

Macro Updates

• China bond yields fell to a record low after the People’s Bank of China annc’d that it will cut the reserve requirement ratio. Yield on China’s 10-year government bonds fell 3.2 basis points to 2.041%, data from LSEG showed, marking a record low. 30-year bond yields dropped 0.4 basis points to a record low of 2.168%. (NBC Los Angeles)
• Consumers’ view on the economy tumbled in Sept 2024, falling by the largest level in more than three yrs as fears grew about jobs and biz conditions, the Conference Board reported. The board’s consumer confidence index slid to 98.7, down from 105.6 in Aug., the biggest one-month decline since Aug. 2021. By contrast, the index had a reading of 132.6 in February 2020, a month before the Covid pandemic hit. (CNBC)
• Global debt hit a record high of $312tn at the end of the Q2, driven by borrowing in the US and China, while a key debt ratio in emerging markets also scaled a fresh peak, data from a banking trade group showed. The Institute of International Finance, a financial svs trade group, said that global debt rose by $2.1tn in the first half to $312tn- a new high point after previous data was revised lower. (Yahoo Finance)
• Gold hit a fresh high, as concerns around inflation and the US economy linger, with bets that the precious metal could hit the $3,000 mark next yr. The spot gold price hit $2,622 per ounce on Friday (Sep 20), with a rise of 1.7% over the course of the week and more than 1% on Friday alone, according to Deutsche Bank. The price held steady on Monday (Sep 23), edging slightly higher to $2,623 per ounce, while gold futures were up to $2,647. (Yahoo Finance)
• Promoters of the theory that China faces a “Japanification” of its economy look set to enjoy a symbolic milestone in the bond market. The yield on China’s 30-yr govt bonds is on track to fall below its Japanese equivalent for the first time in about two decades. China’s long-term yields continue to plumb fresh lows amid a sluggish outlook for the world’s second-largest economy, while Japan’s have climbed to their highest in 13 yrs on bets the fourth-biggest has finally banished the scourge of deflation. (Bloomberg)
• The interest rate for the most popular US home loan ticked down to 6.13% last week, the lowest in about two yrs, and refinancing activity jumped, data from the Mortgage Bankers Association showed. The avg contract rate on a 30-yr fixed-rate mortgage dropped 2 basis points in the week ended Sept. 20, the data showed, a far smaller move than the half-of-a-percentage point policy rate cut delivered by the Federal Reserve last week. Refinancing now accounts for more than 57% of all mortgage applications. (Yahoo Finance)
• The US economy grew at a 3% annualized pace in Q2, a faster rate than Wall Street had expected. The Bureau of Economic Analysis’s third estimate of Q2 US gross domestic product was unchanged from the second estimate which had shown 3% annualized growth. The third estimate for Q2 GDP confirms that economic growth was higher than the 1.4% annualized growth seen in the Q1. (Yahoo Finance)

Online Marketplaces/Learning (Real Estate/Education/Jobs)

• REA Group issued its fourth acquisition proposal to the board of Rightmove PLC, urging the co to engage in dialogue and extend the offer deadline. The Melbourne, Australia-based digital advertising co, majority owned by Rupert Murdoch’s News Corp, has issued its fourth proposal in an attempt to acquire the Milton-Keynes, England-based online real estate co. The terms of the fourth proposal outline that Rightmove shareholders would receive for each share owned, 346 pence in cash and 0.0417 of a new REA share (AJ Bell)

Satellite/Space

• Eutelsat CEO Eva Berneke candidly admitted that developing its ‘next generation’ of OneWeb satellites would take time, unless it could bring partners on board. “We could fund the development of Gen 2 on our own,” she insisted. But it would be “a stepwise approach over years”. OneWeb already has 630 satellites in space but business is slower to arrive than originally expected. (ADVANCED-TELEVISION)
• Satellite communications specialists Iridium is funding $500mn (€448.7m) to buy back its own shares for cancellation. The move, approved by its directors on Sept. 19, is the largest-ever for the co which supplies satellite-based connectivity to govt agencies, NGOs, the military and emergency first responders. It is the fourth buyback from Iridium in the past four years (2021, 2022 and 2023). The period for the buy-back ends on Dec. 31 2027. (ADVANCED-TELEVISION)
• SpaceX plans to launch five uncrewed Starship missions to Mars in the next two years, according to CEO Elon Musk. If these missions land successfully, crewed missions could follow in four years. However, if there are challenges, crewed missions will be postponed by another two years. This announcement follows a successful test mission where a Starship rocket completed a full test mission around the globe. (Yahoo Finance)
• Vodafone is expanding its work with Intelsat to bring on-the-move satellite communication to organizations operating in hard-to-reach areas or disaster zones. This includes communications-on-the-move (COTM) with a vehicle-mounted antenna, and communications-on-the-pause (COTP) with a compact satellite terminal. Flex operates on Intelsat’s Geostationary Orbit (GEO) network. This expanded connectivity will support businesses, governments and charities, including the telco’s charitable arm, Vodafone Foundation, with health and education initiatives in Europe and Africa. (Via Satellite)

Social/Digital Media

• Meta has been found to be in breach of the GDPR for storing millions of user passwords in plaintext on its internal systems in 2019. The decision comes from a 2019 inquiry in which millions of Facebook and Instagram user passwords were stored in a readable format. Ireland’s Data Protection Commission has fined Meta’s €91m for breaching the General Data Protection Regulation in relation to storing user passwords. (Silicon Republic)
• Snap’s stock rose 3.6% following the announcement of an expanded AI partnership with Google Cloud. This partnership will integrate Google’s Gemini AI technology into Snap’s My AI chatbot, enhancing its capabilities across text, audio, image, video, and code. The collaboration aims to boost user engagement and offer more innovative features for the Snapchat community. (GURUFOCUS)
• TikTok annc’d that its redesigned “Subscription” monetization offering is rolling out to eligible creators in select regions, including Brazil, France, Germany, Spain, the UK, Indonesia, Italy, Japan, South Korea, and the US. The co says it plans to expand the feature to more markets in the coming weeks. The official rollout comes as TikTok said back in March that it was going to rename its LIVE Subscription monetization tool to “Subscription” and would soon expand it to non-LIVE creators. (TechCrunch)
• X is reportedly reversing course after weeks of refusing to comply with conditions set by the Brazilian Supreme Court that would allow it to operate in the country again. The co’s lawyers said in a court filing that X has named a legal representative in Brazil as demanded by justice Alexandre de Moraes and removed accounts that the judge had identified as a threat to democracy, along with paying the fines it owed. (Engadget)

Software

• EQT plans to sell a minority stake in the software co IFS, which is currently valued at around €15bn. This decision comes at a time when higher interest rates are significantly impacting the market for initial public offerings and forcing buyout firms to resort to more creative financing models, according to people familiar with the matter. EQT took IFS off the Stockholm Stock Exchange in 2016 and has since significantly expanded the company through organic growth and acquisitions. (Eulerpool Research Systems)
• Salesforce annc’d plans to buy Zoomin, an enterprise knowledge platform. Founded in 2019 by Gal Oron, Hannan Saltzman, and Joe Gelb, Zoomin applies AI and big data to help Cos build self-svs documentation search and support experiences. The terms of the deal weren’t disclosed. Salesforce expects it to be finalized in Q4 of its fiscal year 2025 (Jan 31), subject to customary closing conditions. (TechCrunch)

Sports/Sports Betting

• According to Sportico, Bill Ackman, a prominent investor, is backing the Las Vegas Aviators’ bid to bring Major League Baseball to Las Vegas. Ackman is working with the team’s owner, Howard Hughes Corporation, to secure funding and support for a new stadium. The Aviators aim to capitalize on Las Vegas’ growing sports market and the success of other franchises in the city. (Sportico.com)
• DAZN could face a class action lawsuit after the sports-streaming service was accused of violating California law.org has reported that a complaint has been filed alleging that the over-the-top sports streaming service did not provide the required disclosure before renewing certain subscriptions. Under California’s Automatic Renewal Law (ARL), businesses are required to be more transparent when subscriptions are up for renewal before charging customers for payment. (Cord Cutters News)
• DAZN has secured the exclusive broadcast rights for the new Super League Basketball, w/ all games to be aired for free to audiences worldwide. With the season beginning on Sep. 27, the agreement grants DAZN rights to broadcast the men’s competition globally, including to the domestic UK audience. DAZN will create a dedicated on-platform environment for Super League Basketball which will house live and on demand content from across the competition. Fans will be able to enjoy action from the league, which will be available at no cost. (ADVANCED-TELEVISION)
• More people are watching the NFL than at any point since 2015. Through three weeks of the regular season, the league reports all games outside of the Peacock exclusive (Packers-Eagles in Week 1) have averaged 18.6mn viewers. That’s 10% higher than the average through three weeks of the 2023 season, which did not include an exclusive streaming broadcast. The Chiefs’ 3–0 start has featured three ofthe five most watched games, as Kansas City’s star players continue to drum up interest off the field. (Front Office Sports)
• On top of two media-rights deals struck this past spring and a third now in development, Amazon intends to quickly build its presence further with the National Hockey League. “If you look at what we’re doing in sports around the world, we’re really targeting the largest, biggest, tier-one sports in every country, where the games are must-watch [events],” said Jay Marine, Amazon Prime Video global head of sports. Marine appeared Monday at a press conference with NHL commissioner Gary Bettman to tout the company’s new streaming rights deals with the league in Canada. “Of course, in Canada, there is nothing bigger than hockey and the NHL.” (Front Office Sports)
• Shams Charania might not remain on the free agent market for long. The NBA insider, who recently left digital sports network Stadium after six yrs, is reportedly being considered by both NBCUniversal and Amazon, according to Front Office Sports. NBC’s and Amazon’s huge investments require big talent, and Charania now stands as the leading NBA insider, following ESPN reporter Adrian Wojnarowski’s decision last week to step down. (Awful Announcing)
• The Pac-12 annc’d it will add Utah State in 2026. It’s the fifth current Mountain West Conference member to commit to joining the Pac-12 in 2026, following Boise State, Colorado State, and Fresno State. The annc’mnt came a few hours after the move was confirmed in court documents related to a new lawsuit the Pac-12 has filed against the Mountain West. The Pac-12 now only needs one more FBS-playing member to meet the NCAA’s eight-school minimum, as well as that of the College Football Playoff. (Front Office Sports)
• The Professional Fighters League is looking to super-serve fans of mixed martial arts as it gears up for a major Oct 19 pay-per-view event from Saudi Arabia. The event, featuring former UFC heavyweight champion Francis Ngannou against PFL heavyweight titleholder Renan Ferreira, is one of the biggest events for the six-yr-old franchise, which pits MMA fighters in a league elimination format — including a regular-season and post-season — to determine its champion. (Multichannel News)

Tech Hardware

• An increasing number of iPhone 16 Pro owners are reporting intermittent issues with their phone’s touchscreen responsiveness. Users experience taps and swipes seemingly being ignored, which affects various interactions like scrolling, pressing buttons, and missed presses on keys on the virtual keyboard. Based on testing, reader reports, and a growing number of online complaints, the issue appears to stem from a software bug, rather than a hardware fault. (9to5Mac)
• Apollo Global Management has offered to invest up to $5 billion in Intel Corp. This investment is seen as a vote of confidence in Intel’s turnaround strategy and provides an alternative to a potential takeover by Qualcomm. Intel is considering Apollo’s proposal, which is still in preliminary stages. This comes after Intel’s shares have lost nearly 60% of their value this year. (Yahoo Finance)
• Google’s A-series Pixel phones are on on sale just ahead of Prime Day. The Android phone has dropped to $399, which is $100 off and a new record low price. (Engadget)
• Intel reportedly rebuffed an offer from ARM to buy its product unit. ARM made a high-level inquiry about purchasing Intel’s crown jewel product unit, but Intel declined, stating the division wasn’t for sale. This comes amid Intel’s financial struggles, including a net loss of $1.6bn in Q2:24 and plans to lay off 15,000 employees as part of a $10bn cost reduction plan. (Engadget)
• Samsung Display plans to invest $1.8bn to build a factory in northern Vietnam for organic light-emitting diode (OLED) displays used in automobiles and technology equipment, according to Reuters. The reports state that the new plant will be located in the Yen Phong Industrial Park in Bac Ninh province, east of Hanoi, near Samsung’s existing facility. Bac Ninh authorities and Samsung Display signed a memorandum of understanding (MOU) for the project. With this new project, Samsung’s total investment in Bac Ninh will reach $8.3bn. (JOINS)
• The US and India reached an agreement to work together on setting up a semiconductor fabrication plant in the South Asian nation, giving a boost to Prime Minister Narendra Modi’s efforts to bolster manufacturing in the country. The proposed plant will make infrared, gallium nitride and silicon-carbide semiconductors, according to a White House readout that followed a meeting between the US President Joe Biden and PM Modi. (Gadgets 360)

Towers/Fiber

• Bharti Airtel revealed that it has deployed 1,700 towers over the past seven months in the western state of Gujarat and added newly acquired spectrum across about half of India. In a statement, the Co noted the tower buildout “equates to a remarkable pace” of more than eight new sites installed per day, expanding coverage to some 5mn people. Earlier in the month, the operator said it completed the deployment of additional spectrum in the 2100MHz, 1800MHz and 900MHz bands. (Mobile World Live)

Video Games/Interactive Entertainment

• Discord annc’d that it is opening development for Activities, its in-app ecosystem of apps and games, to all creators. This means that any developer can create, distribute and monetize apps on Discord via its Embedded Apps Software Development Kit. This also means that Discord offers all developers an ecosystem on which to launch games and other software. (Yahoo Tech)

Video Streaming

• According to analysis from Omdia, 365mn SVoD subscriptions will be distributed through operator TV, broadband and mobile bundles, representing 20% of the global streaming market. By 2029, bundling is expected to generate 540mn online video streaming subscriptions, or 25% of the global market. (ADVANCED-TELEVISION)
• Disney annc’d a new rule intended to curb password sharing among its streaming subscribers, following through on plans initially shared last month in an earnings call. A post from the Co explained that Disney is getting a Paid Sharing feature. For an additional $7 a month on Disney Basic or $10 a month on Disney Premium, an account holder can provide access to their plan to one person outside their household, dubbed an Extra Member. (Engadget)
• Disney says it is looking to strike more bundling deals after offering an upbeat assessment of its agreement with Warner Bros Discovery-owned streamer Max. Nami Patel, Disney’s senior vice president of strategy and business development, told the RTS London Convention that the agreement is “working really well.” “Partnerships will always be a key benefit to consumers, and I think we’ll see more and more of that,” Patel continued. She added that bundling offers a “great alternative.” (Cord Cutters News)
• FuboTV launched its popular Multiview feature in beta on select Roku devices. The beta feature is expected to launch on additional Roku devices in the coming weeks. With this launch, Fubo says it is the first virtual MVPD to bring user-configurable multiviewing to Roku. Fubo customers can select and stream up to four live channels simultaneously with Multiview beta. (TVTechnology)
• Google TV and the underlying Android TV OS are growing quickly, w/ 270 mn devices now active. Over the past several yrs, Google’s efforts in building a TV platform have resulted in steady growth. There were 80 mn active devices as of 2021, up to 110 mn in 2022. Google confirmed that Google TV and Android TV OS are now active on over 270mn devices which are active “monthly.” That’s 80% growth of 120mn since the last update in early 2023, significantly faster compared to what we’ve seen over the past few years. (9to5Google)
• Live TV streamers in the US are more satisfied than cable and satellite customers, according to the JD Power 2024 US TV Service Provider Satisfaction Study. Overall satisfaction for live TV streamers is 625 (on a 1,000-point scale) compared w/ 524 among cable and satellite customers. (ADVANCED-TELEVISION)
• Netflix has started to move customers off of its basic plans to more expensive ad-free standard plans unless they decide to switch to cheaper ad-supported plans. This strategic move comes as the streaming Co aims to boost rev through its ad-supported tiers. (Cord Cutters News)
• Roku released detail of its latest product upgrade to its top-of-the-line “Ultra” streaming gadget. Alongside the standard features, the Voice Remote Pro has backlit buttons, USB charging, and two new buttons: quick launch and live TV guide. In addition to controlling their video players, the remote app will allow users to discover personalized content recommendations and read IMDb ratings w/out having to launch a new window. (NextTV)
• The new Google Streamer is on the way, and the co has annc’d several exciting features and updates that will roll out on all Google devices. The Google Streamer will include a home panel and AI features that will also extend to the rest of the Google ecosystem. Starting at $99.99, the streamers build on the success of Chromecast and will offer users a faster and more premium 4K TV streaming experience. (Cord Cutters News)
• The Paris Summer Olympics pushed Comcast’s NBCUniversal unit to the top spot on Nielsen’s list of media distributors for Aug. Nielsen said that NBCU’s units including NBC, USA Network and Peacock, accumulated 13.4% of TV usage — the biggest share since Nielsen began keeping track in Nov. 2023. NBCU had 9.5% of TV viewing in July. USA Network viewership jumped 47%, Peacock showed a 39% gain in streaming and viewing across NBC’s broadcast affiliates rose 62%. (Broadcasting Cable)
• YouTube is raising the cost of its Premium plan in multiple countries around the world, w/ the new pricing surfacing over the weekend. Prices are up in Europe, South America, and some countries in Asia and the Middle East. The biggest single plan price increase is in Norway, where prices are up 42%. YouTube Premium in Norway used to cost approximately $11.33 per month, but now it is just over $16. (MacRumors)