ACCC to target Google and Facebook again

Original article by Aaron Patrick
The Australian Financial Review – Page: 3 : 6-Jul-21

Australian Competition & Consumer Commission chairman Rod Sims says a US court’s recent rejection of an antitrust case against Facebook will not deter global regulators from taking further action against digital giants. However, rather than seeking to have companies such as Facebook and Google broken up, the ACCC will use two current inquiries into digital advertising services and digital platform services to try to limit their ability to exploit their market power. Both inquiries are slated to report to the federal government in coming months.

CORPORATES
GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Facebook beats Biden’s antitrust suit

Original article by Cecilia Kang
The Australian Financial Review – Page: 16 : 30-Jun-21

The market capitalisation of Facebook has risen above $US1bn for the first time after a judge dismissed an antitrust case against the social media giant. The US Federal Trade Commission and more than 40 states had launched the case against Facebook, but the federal court ruled amongst other things that the prosecutors had failed to provide sufficient evidence to support claims that the company has a monopoly in the social networking sector. The lawsuit had sought to break up Facebook by forcing it to divest Instagram and WhatsApp, which it had acquired in 2012 and 2014 respectively.

CORPORATES
FACEBOOK INCORPORATED, UNITED STATES. FEDERAL TRADE COMMISSION, DISTRICT COURT OF UNITED STATES, INSTAGRAM LLC, WHATSAPP INCORPORATED

Federal government spent $4m on Facebook ads in past 12 months

Original article by Miranda Ward
The Australian Financial Review – Page: Online : 29-Jun-21

US-based Pathmatics states that the federal government has spent an estimated $4 million on Facebook advertising in the past 12 months, with $3.1 million of that coming in the last five months. Much of the government’s Facebook advertising has related to the pandemic, but other areas that it has spent advertising on include campaigns on domestic violence against women and on how its $110 billion infrastructure plan is better connecting Australia’s states.

CORPORATES
PATHMATICS

Guardian expected to ink Facebook deal within days

Original article by Miranda Ward
The Australian Financial Review – Page: 29 : 7-Jun-21

Online news publisher Guardian Australia is poised to secure a revenue-sharing deal with Facebook under the news media bargaining code. Industry sources say the deal will be completed within days, and it is believed to involve supplying content for the Facebook News product, which has yet to be launched. Facebook has already secured content deals with a number of Australian media companies, including News Corp, Nine Entertainment and Australian Community Media. Guardian Australia signed a content deal with Google earlier in 2021.

CORPORATES
GUARDIAN AUSTRALIA, FACEBOOK AUSTRALIA PTY LTD, FACEBOOK INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN COMMUNITY MEDIA PTY LTD, GOOGLE AUSTRALIA PTY LTD, GOOGLE INCORPORATED

Amazon to buy MGM for $US6.5 billion, excluding debt

Original article by Joe Flint, Dave Sebastian
The Wall Street Journal – Page: Online : 27-May-21

Electronic commerce giant Amazon.com has struck a deal to acquire Hollywood film studio MGM. The deal will bolster Amazon’s subscription video-on-demand service as competition in the streaming market intensifies. MGM’s library of more than 4,000 films includes franchises such as James Bond, while the studio also produces television shows such as The Handmaid’s Tale. There is also scope for Amazon to create spin-offs from MGM’s popular franchises, a strategy used by rival streaming services. Amazon will pay $US6.5bn for MGM, or $US8.45bn including debt.

CORPORATES
AMAZON.COM INCORPORATED, AMAZON PRIME VIDEO, METRO-GOLDWYN-MAYER INCORPORATED

Facebook removed 14 million pieces of COVID-19 misinformation last year

Original article by Zoe Samios
The Age – Page: Online : 21-May-21

Josh Machin from Facebook Australia claims that "pushing back against misinformation" is vital for democracy. Machin was commenting on the social media company’s inaugural transparency report for the Australian Communications & Media Authority, in which it stated that it removed 14 million pieces of misinformation relating to COVID-19 between March and December 2020. This includes 110,000 posts by Australian users.

CORPORATES
FACEBOOK AUSTRALIA PTY LTD, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Local content propels pay TV

Original article by Jess Malcolm
The Australian – Page: 19 : 26-Apr-21

Foxtel’s chief commercial and content officer Amanda Laing has downplayed the need for local content rules to apply to streaming services. She says that locally-produced content already accounts for 50-70 per cent of the 10 most popular shows on Foxtel’s streaming platforms. Laing also notes that the Australian offices of overseas-based streaming providers are also actively commission local content. Fetch TV CEO Scott Lorson told the same virtual conference that YouTube is making "huge inroads" into the subscription TV market.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, FETCHTV PTY LTD, YOUTUBE INCORPORATED

Netflix growth slows as economies reopen

Original article by Micah Maidenberg
The Australian – Page: 19 : 22-Apr-21

Subscription video-on-demand giant Netflix has posted a profit of $US1.71bn for the March quarter, compared with $US542.2m for the same period in 2020. Revenue rose from $US6.64bn previously to $US7.16bn, but Netflix added just four million new subscribers globally. This is well below the 15.8 million new subscribers it gained in the March 2020 quarter, amid the onset of the COVID-19 pandemic. The easing of lockdown restrictions and growing competition from rival SVODs services are among the challenges facing Netflix.

CORPORATES
NETFLIX INCORPORATED

Are the Murdochs preparing to unleash Fox News on Australia?

Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 12-Apr-21

Revelations that Fox Media LLC has sought to register the Fox News International trademark in Australia has prompted speculation that the Murdoch family will add content from US cable channel Fox News to its local streaming services. The Fox News International streaming app is now available in 30 countries, following its launch in Mexico in August. Fox News is currently broadcast on Foxtel, but making it available via streaming would increase its local reach. News Corp is said to be planning to launch a news-focused streaming service called NewsFlash later in 2021.

CORPORATES
FOX CORPORATION, FOX MEDIA LLC, FOX NEWS INTERNATIONAL, FOX NEWS CHANNEL, FOXTEL MANAGEMENT PTY LTD, NEWS CORPORATION – ASX NWS

Facebook data leak: Australians urged to check and secure social media accounts

Original article by Mostafa Rachwani
The Guardian – Page: Online : 6-Apr-21

The details of over 500 million global Facebook users have been found on the internet, although Facebook has stated that the leaked data is old and results from a problem it resolved in 2019. However, computer security experts contend that the leaked information could still result in issues for users who are impacted by the problem. They state that the simplest way to find out if a person’s data has been leaked is to look on websites operated by security researchers; these include ‘HaveIbeenpwned.com’.

CORPORATES
FACEBOOK INCORPORATED