AMC Networks and Dish Network inked a long-term distribution agreement that continues carriage of AMC's linear channels including AMC, BBC America and IFC. It includes launches of the programmer's subscription VOD services, its advertising-free AMC Premiere and its IFC Films Unlimited streaming service, AMC said Tuesday. The deal includes Dish's vMVPD Sling.
Comcast bought advertising-supported streaming service Xumo, which will operate as an independent business as part of Comcast Cable, the MVPD said Tuesday.
FCC commissioners unanimously approved the draft order that was on Friday's FCC meeting agenda (see 2002060063). It directs low-power TV stations that qualify for mandatory carriage to email MVPDs when changing their carriage election status, the same as full-power TV stations. This latest media modernization order was released Tuesday.
Xperi, which announced an integration agreement with TiVo in December valued at $3 billion (see report, Dec. 20), rejected an unsolicited, nonbinding all-cash bid from Metis Ventures, Xperi said Sunday. Metis’ Friday letter to the Xperi board outlined a plan to acquire all equity of Xperi on a standalone basis for $23.30 a share cash. Xperi shares rose 25 percent Wednesday to $18.70 after its Q4 report. Metis managing partners include Tom Lacey, who retired as Xperi CEO in May 2017 and was succeeded by current CEO Jon Kirchner. After a review of the Metis proposal, the Xperi board unanimously decided that, based on terms and conditions, “as well as lack of information, it is unable to conclude at this time that Metis Ventures’ non-binding proposal is reasonably likely to lead to a Superior Proposal" vs. Xperi’s agreement with TiVo. Xperi expressed continued “support and enthusiasm” for the pending transaction with TiVo. The proposed Metis buy would offer Xperi liquidity “more certain and timely” than the pending TiVo transaction, Metis claimed. Under the definitive agreement with TiVo, due to close this quarter, Xperi shareholders would own about 46.5 percent of the combined business, and TiVo stockholders the rest.
ViacomCBS' CBS All Access streaming service will add content from such networks as Nickelodeon, MTV, BET and Comedy Central, and movies from its Paramount library this year, CEO Bob Bakish said in an earnings call with analysts Thursday. He said it will have live linear content from more than 200 local CBS stations.
Comments are due March 5, replies March 16, on proposed changes to the rules for retransmission consent talks between MVPD buying groups and large station groups, said Wednesday's Federal Register. The rules changes are required by the Television Viewer Protection Act (HR-5035) passed in December (see 1912190068).
Programmer Cinedigm bought the first tranche of stock in a deal that will see it with a 29 percent stake, valued at $68 million, in Chinese entertainment company Starrise Media, it said Tuesday. It said it plans to close on the remaining shares soon.
Streaming remains a minority of TV viewing, said Roku CEO Anthony Wood on Thursday's call on Q4. Over the next 10 years, “consumers around the world will choose streaming as their primary way of viewing TV,” Wood said, citing a confluence of consumers, “the biggest names in media,” leading advertisers and global TV brands embracing over-the-top video. By 2024, half of U.S. households will have cut the cord “or never had traditional pay TV,” he said. Roku added 9.8 million incremental active accounts last year, reaching 36.9 million, and streaming hours there swelled by 16.3 billion to a record 40.3 billion, it reported. In 2019, just under one in three smart TVs sold in the U.S. was a Roku TV, placing it as the No. 1 streaming TV brand, said Wood, up from one in four the prior year. Scott Rosenberg, general manager-platform business, said half of Roku users don't have a pay-TV package so are “not reachable through linear television,” and the other half are “very light linear TV viewers.” The company has been able to show advertisers the “vast majority” of Roku viewers aren't reached by linear TV, he said. Pivotal Research recommends investors sell the stock, it wrote them Friday. “All areas of the ecosystem [are] beginning to squeeze Roku.” Analyst Jeffrey Wlodarczak noted traditional distributors are attacking the direct-to-consumer aggregation opportunity with free equipment and programming, citing Comcast’s $5 monthly discount on NBC’s Peacock service. Wlodarczak expects all non-virtual MVPD DTC players to follow Netflix’ lead and sign distribution deals with traditional distributors to be bundled into pay-TV offerings, eliminating the need for Roku. Wedbush Securities' Michael Pachter sees “tremendous opportunities for revenue growth” at Roku, driven by licensing partnerships, and advertising growth from The Roku Channel and ad VOD partners. Pachter was less sanguine about the company’s road to profitability and said 2020 guidance implies “minimal growth in Player sales in 2020 and at zero margin.” Friday, the stock closed down 6.3 percent at $130.25.
Amazon’s $5 monthly Music HD streaming service for Prime members (see 1909190019) is a boon for the premium audio category, said ProSource CEO Dave Workman. The tech giant’s financial muscle positions it well as a long-term high-res audio streaming service vs. smaller streaming audio players trying to crack the U.S. market, he said in an interview Tuesday. ProSource announced it's adding members to the buying group.
The FTC seeks comment on social media advertising guidance 60 days after Federal Register publication, it announced Wednesday, as expected (see 2001300058). The agency noted its endorsement guidance says connections between an endorser and a seller of an advertised product “that could affect the weight or credibility of the endorsement ... must be clearly and conspicuously disclosed.” The FTC is considering whether changes in technology or the economy warrant changes to the guides.