CLOSING BELL

Dow Rises 27, Nasdaq Falls 75, S&P Slips 3

Stocks closed mixed Thursday after new signs of cooling inflation. The S&P 500 closed 0.1% lower after having been up 1.1% in the early going. The Nasdaq fell 0.6%, while the Dow Jones Industrial Average eked out a 0.1% gain.

Chicken Soup Closes Redbox Purchase, Keeps CEO Galen Smith

Allen Media Group Ups Chris Malone To CFO

The veteran finance executive will continue to lead and implement Allen Media Group’s mergers and acquisitions and corporate finance initiatives.

BRAND CONNECTIONS

The Weather Channel Partners With Amobee And OpenAP To Deliver Data-Driven Linear Ad Campaigns

The Weather Channel has partnered with Amobee, a global provider of advertising technology that unifies audiences to optimize results. The Weather Channel will license Amobee’s platform to provide data-driven linear (DDL) plans for optimized linear television advertising campaigns using advanced audiences activated through OpenAP. The solution, the companies say, “will enable advertisers to leverage rich […]

DOJ Plans To Sue Google Over Ad Market As Soon As September

The U.S. Justice Department is preparing to sue Google as soon as next month, according to people familiar with the matter, capping years of work to build a case that the Alphabet Inc. unit illegally dominates the digital advertising market. Lawyers with the DOJ’s antitrust division are questioning publishers in another round of interviews to refresh facts and glean additional details for the complaint, said three people familiar with the conversations.

Deutsche Telekom CEO Eyes Majority Stake In T-Mobile US

Acquiring a majority stake in T-Mobile U.S. is a priority for Deutsche Telekom’s chief executive Timotheus Hoettgas, he said on Thursday after the telecoms operator published its second-quarter results.

Studios Express Support For Abortion Rights But Don’t Commit To Specific Showrunner Demands

Employees “should have access to safe and effective health care, and their privacy should be protected,” studios say in a joint statement.

EARNINGS CALL

Disney Says Ad Pacing Still Strong

It reported Domestic Channels (broadcast and cable combined) revenues rose 2% to $5.7 billion in the last quarter. Now, said CFO Christine McCarthy, advertising demand is still strong. “Pacing in our scatter market continues to be solid across streaming, sports, as well as our broadcast network.”

CLOSING BELL

Dow Climbs 535, Nasdaq Jumps 361, S&P Rises 88

Wall Street hit a three-month high Wednesday as inflation cools. The S&P 500 rose 87.77 points, or 2.1%, to 4,210.24. The gains broke a four-day losing streak and pushed the benchmark index to its highest levels since early May. It is now nearly 15% above its mid-June low.

Nielsen Boosts National TV Panel To Over 42,000 Homes, 101,000 Viewers

With the coming of its new cross-platform media-measurement service Nielsen One next year, Nielsen says all its media panels have seen growth — including its highly scrutinized national TV panel, which has grown to more than 42,000 homes and 101,000 “directly measured viewers.” Nielsen’s national TV panel has been measuring around 36,000 to 38,000 viewers, according to third-party estimates, during the pandemic periods in 2020 and 2021.

Samba TV Enters Spanish Market In Deal With Smartclip

Chris Protzman To Lead Lockwood’s Knoxville Duopoly

The veteran Knoxville executive is chosen to succeed Neal Davis as GM of WTNZ (Fox) and WKNX (independent).

EARNINGS CALL

Auto On The Rebound For Fox Stations

CEO Lachlan Murdoch said today: “We’re currently seeing a return to growth in the auto category for the first time in a couple of years. This stability of the base market provides a strong foundation for the upcoming political cycle, where the outlook is remarkably strong.”

HBO’s John Oliver Rips Warner Bros. Discovery Over Cost Cutting: ‘Burning Down My Network’

Musk Sells $7B In Tesla Shares Ahead Of Twitter Fight

Musk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days. “In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk tweeted late Tuesday.

Disney’s Streaming Strategy, Theme Park Outlook Face Investor Scrutiny

Walt Disney Co. CEO Bob Chapek is expected to address investors publicly this week for the first time since the media giant’s board of directors renewed his contract through the end of 2024. The 63-year-old is expected to outline his vision for Disney and face questions during the entertainment company’s third-quarter earnings report Wednesday afternoon about how he plans to steer the company’s streaming business.

Political Ad Spending Soars For Midterms

High-stakes races, polarized voters and online fundraising are projected to push spending to nearly $9.7 billion, according to a new report from AdImpact.

QUARTERLY REPORT

Comscore Cuts 2Q Net Loss to $5.1M

Comscore said it reduced its second-quarter net loss as revenues rose 4.3%. The measurement company lost $5.1 million, or 10 cents a share, in the quarter, compared to $87.7 million, or 28 cents, a year ago. Adjusted earnings before interest, taxes, depreciation and amortization was $6.5 million, up from $2.6 million. Revenue was $91.4 million, up from $87.7 million.

Michelle Robinson Harper And Shelly Hill Crawford To Lead WBTV Charlotte

Harper moves from WHBQ Memphis to lead Gray’s CBS affiliate in North Carolina, while Crawford is promoted to the new position of WBTV station manager.

CLOSING BELL

Dow Slips 58, Nasdaq Drops 151, S&P Falls 18

Wall Street slipped Tuesday as weak earnings hit tech and travel stocks. The S&P 500 fell 0.4%, marking its fourth consecutive drop. The Dow Jones Industrial Average fell 0.2% and the Nasdaq slid 1.2%.

Walmart Ponders Streaming Deal With Paramount, Disney And Comcast

The retail giant is exploring bundling a streaming service into its Walmart+ membership program.

Automakers’ National TV Spending Drops 41%

Automakers spent an estimated 41% less on national TV in July 2022 compared to a year ago, and impressions for the month were also down 4.2%, according to iSpot.tv. Without the Olympics, NBA Finals and Stanley Cup (which all took place during at least part of July last year), TV ad spending was down for automakers like Toyota and others that sponsor major sporting events.

Nielsen Shares Surge As Large Shareholder Seeks Pact With Buyout Firms

Shares of media-measurement giant Nielsen surged Tuesday after the purveyor of TV ratings said its largest shareholder reached an initial agreement to support a $10 billion buyout of the TV ratings company by a a group of private-equity firms.

NAB Appoints Three To Boards Of Directors

Catherine Badalamente and Phil Tahtakran join the association’s TV Board, while Kevin Godwin is appointed to the Radio Board.

Record Year For TV, Film Production In Georgia: $4.4B In Direct Spending

Georgia broke a record yet again in direct spending from TV and film producers in the fiscal year ending June 30, 2022, hitting $4.4 billion, according to the Georgia Department of Economic Development. Companies ranging from Netflix to Amazon took advantage of the state’s very generous tax credit program, which dates back to 2008.

Big Ten On Verge Of $1 Billion In TV Deals That Will Exclude ESPN

The Big Ten is on the cusp of television deals that are expected to pay it in excess of $1 billion and create a college football triple-header featuring Fox, CBS and NBC. If the agreement goes through, ESPN will be out of the business of Big Ten football and basketball for the first time in 40 years.

FCC, Standard General-Tegna Deal Opponents Continue To Talk

The FCC’s Media Bureau again has reached out to the NewsGuild-CWA and The National Association of Broadcast Employees and Technicians (also CWA) to talk about the latter’s problems with the Tegna-Standard General merger. That is according to an ex parte accounting of an Aug. 8 phone call between the guild’s counsel, Andrew Schwartzman and Media Burea Deputy Chief Sarah Whitesell.

Republican FTC Commissioner Noah Phillips To Step Down

Noah Phillips, one of two Republican commissioners at the Federal Trade Commission, is set to leave the agency in the fall. Phillips’ departure comes at an extraordinarily high-profile moment at the agency, one marked by a heightened skepticism toward corporate consolidation and tension between the Republicans and Democrats on the commission under Chair Lina Khan, a progressive antitrust hawk who has targeted the tech giants and corporate concentration across the economy

CLOSING BELL

Dow Adds 29, Nasdaq Slides 13, S&P Falls 5

Wall Street ended flat Monday as investors await inflation updates. The S&P 500 and Nasdaq each slipped 0.1% after shedding gains of 1% and 1.6%, respectively. The Dow Jones Industrial Average closed 0.1% higher.

Anti-Trump GOP Group Launches $1M Ad Campaign Against Walker In Georgia

An anti-Trump Republican group launched a $1 million ad campaign on Monday against GOP candidate Herschel Walker, who is running for a Senate seat in Georgia and is backed by the former president. The Republican Accountability PAC announced in a press release the ad campaign was part of a $10 million initiative to “defeat anti-democracy Republicans in key battleground states,” which will also target Pennsylvania governor candidate Doug Mastriano.