U.S. stock indexes closed lower Tuesday on mixed company earnings. The major indexes wavered for much of the day between small gains and losses as investors weighed a mixed batch of earnings reports from McDonald’s, Procter & Gamble and other big companies.
Roku, the big OTT platform, has inked an agreement to buy demand-side platform dataxu for $150 million in cash and stock. The move is intended to boost Roku — which has more than 30.5 million active accounts as of June — as a full-service platform to better compete with other major OTT platforms, including Amazon Fire TV, which has its own DSP.
Former Fox Television Group Chairman-CEO Gary Newman has secured a new role at the investment firm Attention Capital following his exit from the broadcaster. Newman and former Alexander Wang CEO Lisa Gersh have joined Attention Capital as executive partners. They will advise the company’s three founders on companies they’re seeking to invest in and will consult on business operations for portfolio companies.
The conversation today between Vanity Fair Editor-in-Chief Radhika Jones and Walt Disney Chairman-CEO Bob Iger and filmmaker Jon Favreau was largely about the upcoming Disney+ streaming series Star Wars: The Mandalorian, but toward the end of their chat, Jones put the Mouse boss in the hot seat over his $66 million compensation last year, as well as his thoughts on a wealth tax that’s being pitched by Democratic presidential candidates.
Tegna Inc. today declared a dividend of 7 cents per share, payable on Jan. 2, 2020, to stockholders of record as of the close of business on Dec. 6, 2019. “Tegna continues to create value for our shareholders through our operational excellence, rigorous financial discipline, and execution on key strategic initiatives,” said Victoria Harker, Tegna EVP-CFO.
The FCC held a meeting with private equity firm Apollo Global Management this week to ask questions about its agreement to finance New Media Investment’s planned purchase of Gannett Co., the publisher of USA Today, sources say. The FCC is concerned that the $1.8 billion loan Apollo is providing to finance the merger could violate its duopoly laws, sources say.
TV’s gambling bonanza remains on the horizon as states hold back on legalization.
The FCC isn’t likely to loosen ownership restrictions anytime soon, said leaders from Nexstar, Gray and Meredith last week, but outside money is likely to continue coming into the industry while the ownership cap holds steady. L-r: Patrick McCreery of Meredith, Perry Sook of Nexstar and Pat LaPlatney of Gray. (Photo: Wendy Moger-Bross)