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☆ CNBC Sport: Why bars and restaurants are shedding 'Sunday Ticket' subscriptions
▼ + stars: | 2024-10-17 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +29 min

As a condition of that deal, EverPass included the right to build its own commercial streaming connection for "Sunday Ticket," bypassing third-party licensing. 1) Some commercial establishments are switching to EverPass's internet product. 2) Some commercial establishments are cutting the cord on pay-TV in general. 3) Certain commercial establishments are using YouTube's "Sunday Ticket" and paying residential prices (about $500 per year) instead of the higher business rates. 3) Certain commercial establishments are using YouTube's "Sunday Ticket" and paying residential prices (about $500 per year) instead of the higher business rates.

Persons: Alex Sherman, DirecTV's, What's, EverPass, Lillian Rizzo, –, Everpass, It's, Craig Kilborn, Val Ackerman, Ackerman, that's, We're, Alex, you've, they're, Jeff Shell, Tom Brady, Tom Wagner, CNBC's Michael Ozanian, Jessica Golden, Brady, He'll, Wagner, Warner, Jake Piazza, CNBC's Rizzo, Nielsen, That's, — Ian Charles, Arctos, Charles, NBC's Peacock, Christian Miller, Miller, Adam Silver doesn't, Jim Dolan, Abu, Greg Norman, Norman, Rory McIlroy, Tiger Woods, Chiney Ogwumike Organizations: CNBC, NFL, Google, YouTube, DirecTV, EverPass Media, RedBird Capital Partners, Amazon Prime, ESPN, Dish Network, Big East Conference, WNBA, Big, CNBC Sport, Skydance, Paramount Global, Shell, Paramount, Las Vegas Raiders, Knighthead, Raiders, Fox Sports, NBA, Warner Bros, Discovery, TNT, MLB, Los Angeles Dodgers, New York Mets, Mets, Revenue, League, Golden State Warriors, Boston Celtics, Philadelphia Phillies, Wall Street, Comcast, Puma, NBC News, U.S, SEC, New York Times, Sphere Entertainment, Saudi Arabia's Public Investment Fund, Sports Business, PGA, Chiney, Continent Foundation, Philadelphia Eagles, Kansas City Chiefs, Visual China, Getty, Big East Locations: Apple, New York, American, Boston , Philadelphia, Northern California, U.S, Abu Dhabi, Vegas, Queens, Africa, Newport Beach , California

☆ The most valuable programming on TV is for sale. Why hasn't anyone bought it?
▼ + stars: | 2024-10-03 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

For sale: The rights to show at least seven NFL games a year, plus a lot of other NFL content. AdvertisementHere's a riddle: Some of the most valuable programming in TV has been for sale for years. The NFL has also been trying to sell the NFL network for several years. AdvertisementThe NFL Network, which has been around for a couple of decades, is a mish-mash of NFL-related content. At one point the NFL was hoping to tie the sale of the NFL Network to Sunday Ticket, its popular all-the-games-you-can-watch subscription service.

Persons: —, Goldman Sachs, Larry, David Ellison's Skydance, Skydance Organizations: NFL, NFL Network, Service, NFL Network —, Minnesota Vikings, New York Jets, YouTube, ESPN, Bloomberg, Paramount, Vikings, Jets Locations: London

In 2021, the National Football League signed an 11-year, $111 billion media rights deal. In July, the National Basketball Association signed an 11-year, $77 billion deal of its own. Welcome to the sports media rights doldrums. It will also be a significant driver of future NFL team valuations. The average NFL team is now worth $6.49 billion, according to CNBC's Official 2024 NFL Team Valuations.

Persons: What's, Daniel Cohen Organizations: ESPN, Jacksonville Jaguars, Cincinnati Bengals, EverBank, National Football League, National Basketball Association, U.S, NFL, Octagon, Sunday, Fox, Paramount, CBS, Apple, YouTube Locations: Jacksonville, Fl

☆ DirecTV is on the warpath against Disney in a battle it says is existential for cable TV
▼ + stars: | 2024-08-27 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

They really just want to disintermediate all of pay TV and drive everyone to themselves. Fresh off a vicarious victory over Disney, Thun is still looking for revenge. For DirecTV, it's skinny bundles or bustDirecTV believes these strict bundling requirements are to blame for putting pay TV on life support. Disney is "completely responsible" for the fall of pay TV, Pachter said, "because they think the only direction that retransmission fees should go is up." Without skinny bundles, pay TV is 'going to die'If skinnier bundles can't solve pay TV's woes, it's unclear what could.

Persons: —, Venu Sports, Venu, Rob Thun, Thun, Venu didn't, DirecTV's, Geo, They've, Venu wouldn't, Margaret Garnett, I'm, Michael Pachter, he'd, Pachter, Brian Wieser, Puck's John Ourand, Rich Greenfield, Greenfield, — we're, Wieser Organizations: Service, Disney, Fox, Warner Bros ., DirecTV, Business, ESPN, balk, YouTube, Wedbush Securities, Madison, Cable, Paramount, LightShed Partners, Charter Locations: Thun, Wall

☆ Turns out being a venture capitalist can be really hard and some VCs want out
▼ + stars: | 2024-08-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, turns out being a venture capitalist can be really hard, and some VCs want out . The big storyWe were promised big returnsiStock; Rebecca Zisser/InsiderFor venture capitalists, when the going gets tough, the tough get going…toward the exits. Some VC workers are reconsidering their future as the industry goes through a rough patch, writes Business Insider's Sri Muppidi. The ink was barely dry on a deal before startups were raising another round, doubling their VCs' investment (on paper) along the way. One Bay Area partner told Sri junior investors need to meet dozens of companies a week.

Persons: —, Rebecca Zisser, It's, That's, VCs, dobi, Goldman Sachs, duMond, Chip Somodevilla, Alyssa Powell, Jamie Dimon, we're, Jamie, David Zalubowski, Chelsea Jia Feng, Meta's Instagram, Grzegorz Wajda, Elon Musk, Musk's X, he's, Grimes, Sam Altman, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, VCs, Tiger Global, Area, JPMorgan, YouTube, Dell, Getty, Elon, Federation, Global Alliance, Responsible Media, UK Prime, Democratic, Trump, Disney Locations: Patagonia, Dimon, Anaheim , California, North Carolina, Virginia, New York, London

☆ Media, tech titans head for Sun Valley with streaming alliances top of mind
▼ + stars: | 2024-07-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +8 min

In past years, media companies chased high subscriber numbers in an attempt to best each other. Nathaniel S. Butler | National Basketball Association | Getty ImagesWith the NBA's media rights negotiations still ongoing, sports will remain a topic of conversation at this year's gathering. League commissioners, especially the NFL's Roger Goodell, are often attendees of the Sun Valley conference. Discovery has been weighing whether to match a competing offer for the media rights as the league looks to finalize smaller package deals. Sports remain the glue holding the traditional pay-TV bundle together, and has proven invaluable for streaming services, too.

Persons: Drew Angerer, Discovery's David Zaslav, Bob Iger, Dana Walden, Alan Bergman, Josh D'Amaro, Hugh Johnston, Ted Sarandos, Greg Peters, Andy Jassy, Jeff Bezos, Tim Cook, it's, Shari Redstone, Neil Begley, Redstone, David A, Barry Diller —, Paramount —, Jeff Shell, Max, Jonathan Miller, Begley, Sun, Mark Boidman, Dwyane Wade, Nathaniel S, Butler, Roger Goodell, Miller, Donald Trump, Joe Biden, Andrew Harnik Organizations: Getty Images Media, titans, Allen, Co, Warner Bros, Netflix, Apple, Amusements, Paramount Global, Paramount, Moody's Investors Services, Co . Media, Technology Conference, Grogan, CNBC, Media, Shell, Disney, Hulu, ESPN, Fox Corp, Integrated Media, Hollywood, Solomon Partners, Sports, NBA, National Basketball Association, Getty, League, Sun, NFL, YouTube, Amazon Locations: Sun Valley , Idaho, Sun, Idaho, Atlanta

☆ Supreme Court punts social media moderation cases back to lower courts
▼ + stars: | 2024-07-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Chris Marchese (L), director of the NetChoice Litigation Center, looks on as Matt Schruers (C), president and CEO of the Computer & Communications Industry Association, speaks to reporters outside of the U.S. Supreme Court in Washington, D.C., on Feb. 26, 2024. The Supreme Court on Monday wiped existing rulings around two state laws that aim to prevent tech companies from banning users over potentially harmful rhetoric. The move prolongs a debate over whether Republicans will be able fight what they view as "censorship" by leading social media platforms. The Court sent the issue back to lower courts for further review, arguing that the previous rulings failed to properly explore whether the content moderation laws would be unconstitutional under all circumstances. Texas and Florida have passed legislation that Republican lawmakers claim will stop tech companies including Facebook parent Meta; X, formerly known as Twitter; and Google's YouTube from stifling conservative opinions.

Persons: Chris Marchese, Matt Schruers Organizations: NetChoice Litigation, Computer & Communications Industry Association, U.S, Supreme, Washington , D.C, Republicans, Facebook, YouTube Locations: Washington ,, Texas, Florida

☆ Amazon's appearance at Upfronts highlights push beyond digital ads and into traditional media
▼ + stars: | 2024-05-15 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

But it's no longer just about digital ad dollars, and Amazon's inaugural presence at this year's Upfronts events is the clearest indication that the e-commerce giant is prepared to take on traditional media. Amazon's Prime Video and other streamers would historically be featured at Newfronts, which is digital media's take on Upfronts. This year, they're projected to spend roughly $18.8 billion on traditional TV ads during Upfronts, an increase of 1% from a year earlier, according to eMarketer. 1 question all of you asked was, 'When are you going to show ads on Prime Video?'" He showed how the business has evolved to include digital video ads on Prime Video.

Persons: they're, Cowen, Alan Moss, we've, Reese Witherspoon, Jake Gyllenhaal, Paul Kotas, We've, Kotas, we're, — CNBC's Lillian Rizzo, Alex Sherman Organizations: Meta, Google, Amazon, Disney, Comcast, Netflix, Google's YouTube, Prime, Revenue, National Football League, CNBC Locations: Amazon, U.S

☆ Why the Big TV companies aren't 100% completely screwed. Yet.
▼ + stars: | 2024-05-14 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Big TV used to have a monopoly on our attention — and our wallets. This mirrors the pitch big TV companies are making this week in New York to advertisers. AdvertisementThe Big TV guys are screwed, right? AdvertisementAnd here to make that argument is Nielsen, which has a new way of tracking attention among media companies — including digital upstarts. And in this version, the TV guys are still sticking around.

Persons: aren't, —, They're, Nielsen, It's, it's Organizations: Service, NFL, Business, Netflix, Disney, ABC, ESPN, Hulu, Paramount, CBS, NBC Universal, YouTube, Nielsen Locations: New York

☆ YouTube is ready to capitalize on its status as No. 1 streamer
▼ + stars: | 2024-05-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Ad industry watchers are waking up to the fact that TV's big star is Google's YouTube. YouTube is ready to capitalize as it heads into TV's big upfront selling season. Industry observers widely believe YouTube is taking in far less ad revenue than it should be, based on its share of view time. Why YouTube is big on live sportsYouTube also affirmed its commitment to the industry's most sought-after content, live sports. YouTube still faces legacy ad buying structures where some agencies still buy old-fashioned TV and social video separately.

Persons: Nielsen, Neal Mohan, Mary Ellen Coe, Sean Downey, Zach King, Haley Kalil, Billie Eilish, Brian Albert, Brandcast, Donald De La Haye, Deestroying, Albert, Kate Alessi, Tricia McCormack, Brian Wieser Organizations: YouTube, Netflix, Hulu, Industry, Business, US, Google, NBA, Disney, Systems Locations: New York

☆ A major headwind for TikTok could be the ultimate tailwind for Meta's Facebook and Instagram
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

META mountain 2022-11-03 Meta's stock performance since Nov. 3, 2022, which marked its lowest close during its dramatic sell-off that year. In a recent Wedbush consumer survey, 60% of TikTok users who responded said either Facebook or Instagram were their top alternatives if TikTok were to be banned. That was followed by 19% of TikTok users who said they would go to YouTube. Meanwhile, Deutsche Bank said Meta's stock could see more upside in light of a potential TikTok ban. After initially being a drag on revenue, Meta has said Reels is now a positive contributor across its apps.

Persons: Jim, Joe Biden, ByteDance, Shou Zi Chew, TikTok, –, FactSet, monetization, Philipp Schindler, We'll, Jim Cramer's, Jim Cramer, Avishek Das Organizations: Facebook, Chinese Communist Party, CNBC, Street, Meta, YouTube, Google, Wedbush Securities, Deutsche Bank, Getty Locations: U.S, Washington, Ukraine, Israel, Taiwan, China

☆ Instagram makes more ad money than YouTube, new court filings reveal
▼ + stars: | 2024-04-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Instagram generated $32.4 billion in ad revenue in 2021, making up 27% of Meta's total revenue. Instagram's ad revenue was higher than Google's YouTube, which generated $28.8 billion. AdvertisementWe already knew that Instagram is a giant app that makes up a significant chunk of Meta's overall business. More context: Instagram made more money selling ads that year than Google's YouTube, which generated $28.8 billion in ad revenue. (Analysts at MoffettNathanson peg YouTube's overall revenue for that year at $35.4 billion, after factoring in the money it makes from its music and TV subscription services.)

Persons: Meta, — Organizations: YouTube, Service, Business

☆ An OpenAI mystery: YouTube videos, Google throttling, and AI training data.
▼ + stars: | 2024-03-18 | by ( Alistair Barr | Ashley Stewart | ) www.businessinsider.com time to read: +5 min

Read previewThe AI community assumes that OpenAI uses vast quantities of YouTube videos to train models, including its new Sora offering. The mystery is how OpenAI accesses enough YouTube content to make this work. Business Insider asked OpenAI whether it has downloaded YouTube videos at scale and whether the startup uses this content as data for AI model training. Google, OpenAI, and other tech companies are currently arguing that using copyrighted content for AI model training is also legal. And when pressed again about sources of training data, Murati replied, "I'm not going to go into the details."

Persons: —, OpenAI, Mira Murati, Sora, I'm, Murati, Axel Springer, Ashley Stewart Organizations: Service, YouTube, Business, Google, Microsoft, Street

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSports streaming is here. Will TV break? But now, you've got Thursday Night Football on Amazon Prime, Lionel Messi on Apple TV, WWE Smackdown on Netflix, and Google's YouTube TV as the fourth biggest TV provider in the country. Even traditional TV is giving in, with a new mega-sports app from Fox, Disney's ESPN, and Warner Brothers Discovery. This week on TechCheck, we update our "Great Rebundling" deep-dive and ask, does live sports break the dam?

Persons: you've, Lionel Messi Organizations: Sports, Amazon Prime, Apple TV, WWE, Netflix, YouTube, Fox, ESPN, Warner Brothers Discovery

☆ Algorithms, bias and hallucinations: 20 important AI terms investors should know
▼ + stars: | 2024-02-04 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +25 min

Generative AI Neural networks are the heart of the increasingly popular type of AI known as generative artificial intelligence , or gen AI for short. Both traditional AI and gen AI systems rely on data and can be used to automate decision-making tasks. Microsoft's AI virtual assistant Copilot — which went live in November — is perhaps the most prominent generative AI feature among our portfolio companies. Bias Bias is another downside to AI systems — and LLMs in particular — that users need to consider. While GPUs have the upper hand in AI training, CPUs are understood to perform AI inference well.

Persons: OpenAI's, —, We've, that's, Chirag Shah, Shah, Mark Riedl, Bruce Springsteen, Einstein, Copilot —, Springsteen, OpenAI, it's, Riedl, Harry Potter, I've, ChatGPT, University of Washington's Shah, there's, he'd, Georgia Tech's Riedl, LLMs that's, Georgia Tech's, Meta, Grace Hopper Superchip, Jim Cramer's, Jim Cramer, Jim Organizations: Broadcom, Microsoft, Meta, Nvidia, Apple, Chirag, University of Washington, Google, Georgia Tech's School of Interactive Computing, YouTube, Netflix, Amazon, Facebook, Reuters, U.S, University of Washington's, OpenAI, New York Times, Club, Jim Cramer's Charitable, CNBC Locations: Silicon Valley, Barcelona, U.S, WhatsApp, Istanbul, Georgia

“We can't wait for people to experience the magic,” Apple CEO Tim Cook gushed Thursday while discussing the Vision Pro with analysts. If that happens with the Vision Pro, references to spatial computing could become as ingrained in modern-day vernacular as mobile and personal computing — two previous technological revolutions in technology that Apple played an integral role in creating. Photos You Should See View All 45 ImagesSo what is spatial computing? On the work side of things, videoconferencing service Zoom and other companies that provide online meeting tools have built apps for the Vision Pro, too. Although it might be heralded as a breakthrough if Apple realizes its vision with Vision Pro, the concept of spatial computing has been around for at least 20 years.

Persons: Apple's, “, ”, Tim Cook, Cathy Hackl, ” Hackl, hasn't, Simon Greenwold, Greenwold, Tom Cruise, “ It's Organizations: FRANCISCO, Apple, ” Apple, Vision, Netflix, YouTube, Google, Pro, Massachusetts Institute of Technology

☆ David Ellison's Skydance Media explores acquiring all of Paramount Global, sources say
▼ + stars: | 2024-01-24 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

David Ellison's Skydance Media and its financial backers are exploring a deal to take private all of Paramount Global , people familiar with the matter told CNBC. It is unclear if Redstone would demand a different premium for selling National Amusements than the remaining shareholders of Paramount Global would obtain. Skydance isn't interested in a deal where it would only acquire National Amusements but not all of Paramount, said the people. Spokespeople for RedBird, Skydance, Paramount Global and National Amusements declined to comment. Discovery has also had preliminary discussions about acquiring Paramount Global, according to people familiar with the matter.

Persons: Shari Redstone, David Ellison's, Ellison, hasn't, Skydance, Larry Ellison, Skydance hasn't, Skydance isn't, Puck Organizations: National Amusements, CBS, Viacom, Media, Paramount Global, CNBC, Skydance, Paramount, RedBird Capital Partners, KKR, Netflix, YouTube, Apple, Oracle, MTV, VH1, Comedy Central, Nickelodeon, National, Warner Bros, Redstone, Discovery, Comcast, Street, Amusements, Bloomberg Locations: Laguna Beach , California, U.S

☆ YouTube star MrBeast makes more than $263,000 in X video, but calls it ‘a bit of a facade’
▼ + stars: | 2024-01-22 | by ( Zach Vallese | ) www.cnbc.com time to read: +3 min

"MY FIRST X VIDEO MADE OVER $250,000!" In the video, Donaldson and his team venture into a variety of automobiles, including flying cars and amphibian cars. X launched its Creator Revenue Share program last year, offering creators a share of the ad revenue made from their posts. Musk welcomed his video to X with a quote post that read, "First MrBeast video posted directly on X!" While his reported revenue from his debut X video looks like a big number, it's not a lot for MrBeast.

Persons: Jimmy Donaldson, Donaldson, Jay Leno, X, Elon Musk, Tucker Carlson, Don Lemon, Tulsi Gabbard, Musk, Linda Yaccarino, wouldn't, it's Organizations: Nickelodeon, Microsoft Theater, YouTube, Twitter, Forbes, Amazon Locations: Los Angeles, Puck

☆ Here's what I'm watching to see where the market goes next after the S&P 500 record close
▼ + stars: | 2024-01-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

We don't know what we want. The rails are too significant to ignore even as the bond market seems to rely, I would say, wrongly, on the broader data. I think it's a factor of big money flows that aren't sensitive to what moves rates and don't mind being wrong. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Tesla, ServiceNow, Bill McDermott, Russell, —, Abbott, Gamble, Jon Moeller, Heels, what's, hasn't, Steve Jobs, Ray, Kimberly, Clark, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Union Pacific, CSX, Norfolk Southern, Federal Reserve, Silicon Valley Bank, Microsoft, Nvidia tacking, Google, Apple, Nvidia, JPMorgan Healthcare Conference, Abbott Laboratories, Investing, JPMorgan, Novartis, Walgreens Boots Alliance, Procter, Super, YouTube, Netflix, Vision, Pro, Jim Cramer's Charitable, CNBC, NYSE Locations: U.S, Silicon, San Francisco, Amgen, China

☆ Tech companies to sign agreement with UK government to tackle online fraud
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 30 (Reuters) - Eleven of the world's biggest tech companies, including Amazon.com (AMZN.O), Alphabet's (GOOGL.O) Google and Microsoft (MSFT.O), will sign an agreement with the British government on Thursday to step up their efforts to tackle online fraud, the interior ministry said. Under the "Online Fraud Charter," due to be signed at a meeting chaired by Interior Minister James Cleverly in London, the companies pledge to take further action to block and remove fraudulent content from their sites, the government said. "Fraud is now the most common crime in the UK, with online scammers targeting the most vulnerable in society," British Prime Minister Rishi Sunak said in a statement. "By joining forces with these tech giants we will continue to crack down on fraudsters, making sure they have nowhere to hide online." The British government says fraud accounts for around 40% of all crime in England and Wales, with data from industry body UK Finance showing almost 80% of all authorised push payment fraud originates online.

Persons: Dado Ruvic, James, ByteDance's, Rishi Sunak, Kylie MacLellan, Matthew Lewis Organizations: REUTERS, Google, Microsoft, Interior, eBay, Facebook, YouTube, Finance, Thomson Locations: London, England, Wales

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBRUSSELS/STOCKHOLM, Nov 10 (Reuters) - Elon Musk's X social media platform has just 2,294 content moderators to ensure users comply with EU online content rules, significantly fewer than Google (GOOGL.O) and TikTok, a senior European Commission official said on Friday. X has triggered concerns after Musk laid off many employees responsible for monitoring and regulating content amid the spread of disinformation on the platform. According to reports the companies submitted to the EU in September, X's 2,294 EU content moderators compared with 16,974 at Google's YouTube, 7,319 at Google Play and 6,125 at TikTok, the senior Commission official said, speaking on condition of anonymity. Regulators are hoping that X will feel the pressure to boost its number of content moderators to catch up with its rivals, the official said.

Persons: Carlos Barria, Elon Musk's, Musk, Foo Yun Chee, Jan Harvey Organizations: REUTERS, Google, European Commission, EU's Digital Services, Apple, Microsoft, EU, YouTube, DSA, Big Tech, Thomson Locations: San Francisco , California, U.S, BRUSSELS, STOCKHOLM, X's, TikTok, EU

☆ Instagram linked to depression, anxiety, insomnia in kids - US states' lawsuit
▼ + stars: | 2023-10-24 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Meta Platforms Inc FollowOct 24 (Reuters) - Dozens of U.S. states are suing Meta Platforms (META.O) and its Instagram unit, accusing them of contributing to a youth mental health crisis through the addictive nature of their social media platforms. "Research has shown that young people’s use of Meta's social media platforms is associated with depression, anxiety, insomnia, interference with education and daily life, and many other negative outcomes," the complaint said. The lawsuit is the latest in a string of legal actions against social media companies on behalf of children and teens. Meta deceptively denied publicly that its social media was harmful, the lawsuit said. Nine other states are expected to file similar lawsuits on Tuesday, bringing the total number of states suing to 42.

Persons: Dado Ruvic, ByteDance's, Meta, We’re, Jonathan Stempel, Diane Bartz, David Shepardson, Nate Raymond, Rod Nickel, Lisa Shumaker Organizations: REUTERS, Meta, YouTube, Menlo, Thomson Locations: Oakland , California, California, Illinois, , California, New York

☆ NBA can shift the balance of power in media with its next rights deal
▼ + stars: | 2023-10-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Every media rights renewal for the NBA is an important event because it only happens about once a decade. But with the National Football League's media rights locked up until 2033, the NBA has a unique opportunity to play media kingmaker. CNBC first reported NBCUniversal's interest in again airing NBA games earlier this year. Carving up the piewatch nowThe NBA will have to balance demand against restricting supply to maximize the price for rights. Discovery's TNT, NBA TV, NBA League Pass or a regional sports network.

Persons: Jimmy Butler, Jamal Murray, Justin Edmonds, clamor, John Skipper, Ted Sarandos, Netflix hasn't, We've, Sarandos, that's, Netflix's Ted Sarandos, Jeff Kravitz, That's, Serbian Nikola Jokić, Victor Wembanyama, It's, Peacock, Michael Jordan, Discovery's Max, Aurelien Meunier, Kevin Durant Organizations: Miami Heat, Denver Nuggets, Ball Arena, Getty, Basketball, Comcast, Google, Apple, Netflix, YouTube, NBA, Disney, Warner Bros, Discovery, National Football, ESPN, Global, Slovenian Luka Dončić, Dallas Mavericks, San Antonio Spurs, NBCUniversal, NBC, CNBC, U.S, Metropolitans, Nielsen, Major League Soccer, Major League Baseball, ABC, TNT, NBA TV, Twitter Locations: Denver , Colorado, NBCUniversal, Hollywood , California, Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain, United Kingdom, United States, Slovenian, Serbian, Levallois, Perret, U.S

☆ Supreme Court to hear Texas and Florida social media cases over right to moderate content
▼ + stars: | 2023-09-29 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

The Supreme Court on Friday said it will decide whether it's constitutional for Texas and Florida to prevent social media companies from banning users over potentially harmful rhetoric. Tech companies have historically had control over the type of content that's published on their platforms, and most apps require users to agree to terms of service. The Supreme Court's upcoming nine-month term begins next week, and its ruling on the social media cases will likely come next year. The Biden administration has also asked the Supreme Court to weigh in on whether the laws in the two states violate the tech companies' First Amendment rights. In a filing, the administration argues that the tech companies are protected under the Constitution.

Persons: Donald Trump, Trump, Elon Musk, Biden Organizations: Facebook, Twitter, YouTube, Computer and Communications Industry Association, Tech, Capitol, Republican, Tesla, SpaceX Locations: Texas, Florida

☆ The way I'm thinking about stocks makes them winners no matter what the Fed or bonds do
▼ + stars: | 2023-09-24 | by ( Jim Cramer | ) www.cnbc.com time to read: +14 min

After the September meeting pause last week, the target range for the fed funds rate remained at 5.25% to 5.50%. First, I don't know a soul besides me who agrees with that 20-year versus fed funds rate yield prognosis. They think the fed funds rate will come down or the 20-year yield is already extended. Second, I don't know anyone else who believes the economy is so strong that the Fed is correct to keep on an anti-inflation course. I don't think so.

Persons: We've, Jerome Powell, Powell, It's, —, that's, — let's, it's, Bob Iger, Charlie Scharf, there's, Einstein, Salesforce, Elliott, Bill Newlands, Constellation, William Giles, Giles, Bud, Tom Jorden, Coterra, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Federal Reserve, Fed, Treasury, Apple, Club, Disney, Hulu, CNBC, Comcast, DIS, ABC, ESPN, Nexstar Media, YouTube, Apple's, Wells, Constellation Brands, Constellation, Elliott Management, Autozone, San, Coterra Energy, & Gas, Ford, Traders, New York Stock Exchange, AFP, Getty Locations: U.S, New Jersey, Gary's, Madison —, Wells Fargo, Wells, What's, slowdowns, Texas, San Miguel, Brooklyn , New York, AMZN, CTRA

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