A new 10-year deal makes ESPN the exclusive media rights holder of SEC football and men’s basketball, and will end the conference’s relationship with CBS after three decades. CBS has been airing the league’s Saturday afternoon centerpiece game and football championship since 1996.
A shareholder resolution is asking Comcast to conduct an independent investigation of sexual harassment complaints and policies. The media giant has asked the SEC to block the proposal.
The SEC accuses the media analytics firm of overstating revenue by $50 million, making false statements about performance.
Viacom and CBS followed last week’s merger news with regulatory filings Monday that laid out some key details of their long-awaited reunion. Among them: Joe Ianniello, who lost out to Bob Bakish for the top job, is getting a $70 million bonus to stay on and head the CBS division. But his contract only goes through the end of 2020.
CBS announced Sunday the game drew a 10.52 rating, an increase of 25% over last year’s SEC title game between Auburn and Georgia and the best rating for any non-bowl game since LSU and Alabama played a No. 1 vs. No. 2 matchup in November 2011. That Game of the Century got an 11.9 rating on CBS.
The U.S. government is investigating whether Snap Inc. manipulated its $3.4 billion initial public offering. Snapchat’s parent company revealed Wednesday that the Department of Justice and the Securities and Exchange Commission have subpoenaed the company about potentially misleading claims it made in its March 2017 filing.
President Trump said meetings with executives prompted him to ask the SEC to study letting public companies file financial reports every six months instead of every quarter.
Mary Jo White, the head of the Securities and Exchange Commission, on Monday announced that she would step down two years before the end of her term, clearing the way for President-elect Donald Trump to reshape the way Wall Street is regulated. Beyond the SEC, he could also dramatically alter the ideological landscapes at key agencies such as the FCC and the Federal Trade Commission, whose top officials are nearing the end of their terms.
The stock of comScore — the media measurement company — was slammed Monday. The company, according to a SEC filing, was looking into “potential accounting matters.”
Neflix said Thursday that the Securities and Exchange Commission informed it that its staff is recommending civil action be brought against the company and CEO Reed Hastings. The reason: Hastings’ July 3 post in which he said Netflix’s online video viewing “exceeded 1 billion hours for the first time ever in June.”