West Coast Late Day Wrap-Up Edition
FuboTV sues Disney, Fox, Warner Bros. over sports joint venture – FuboTV, the self-described “sports-first” live TV streaming platform, filed an anti-trust lawsuit against The Walt Disney Company, FOX Corp., Warner Bros. Discovery Inc. and their affiliates on Tuesday.
FuboTV alleges that”the vertically-integrated media companies have engaged in a years-long campaign to block Fubo’s innovative sports-first streaming business resulting in significant harm to both Fubo and consumers. The complaint alleges that the forthcoming launch of a sports-streaming joint venture steals Fubo’s playbook and is the latest example of this campaign.” [FuboTV]
Kim Kardashian Game Fans Brace for End to Their Lavish Virtual Lives – “Kim Kardashian: Hollywood,” a decade-old mobile game announced it will shut down for good in April, erasing the app and the fabulous virtual lives players have created. Fans have started petitions and flooded social media to beg Kardashian to reconsider. Others are preparing for the end, blowing their hard-earned digital savings like drunken sailors and cheating on their virtual spouses.
Videogame maker Glu Mobile launched the game in 2014. Its former chief executive Niccolo De Masi, who left in 2016, says he worked closely with Kardashian to make the game and was disappointed to learn of its pending demise. “If it was up to me, we’d still be going.” [WSJ]
Virginia labor unions come out against plan for new Caps, Wizards arena -A group of labor unions said on Tuesday they oppose a proposal to move the Washington Capitals and Wizards from downtown D.C. to Alexandria, Va., dealing another blow to a plan that is already facing increasingly tall hurdles among legislators in Richmond.
Officials behind the plan as well as Monumental Sports & Entertainment, the teams’ owner, had said they would commit to hiring union labor at the new arena. But the Northern Virginia AFL-CIO — which represents construction laborers as well as concession stand employees at the teams’ current home at Capital One Arena — said the plan lacks necessary labor protections for the workers who would build it — or similar union commitments for private development projects in the entertainment district that would go around the Alexandria facility. [Washington Post]
Walmart acquires VIZIO – Walmart and VIZIO announced they have entered into an agreement for Walmart to acquire VIZIO for $11.50 per share in cash, equating to a fully diluted equity value of approximately $2.3 billion.
The acquisition of VIZIO and its SmartCast Operating System (OS) would enable Walmart to connect with and serve its customers in new ways including innovative television and in-home entertainment and media experiences. It would also create new opportunities to help advertisers connect with customers, empowering brands with differentiated and compelling opportunities to engage at scale and to realize greater impact from their advertising spend with Walmart. The combination would be expected to further accelerate Walmart’s media business in the U.S., Walmart Connect, bringing together VIZIO’s advertising solutions business with Walmart’s reach and capabilities. These benefits would be further strengthened by the growth of connected TV platforms and Walmart’s industry-leading TV panel sales.
