BT splits UEFA Champions League rights with Amazon; Activision buys Proletariat

The Daily Digest highlights top news and exclusive insights on the technology, media and telecommunications sectors.

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TOP NEWS

Champions League deal looks like an early win for BT's new sports strategy

Warner Bros. Discovery Inc.'s sports joint venture with BT Group PLC secured exclusive live broadcast rights for the majority of the UEFA Champions League soccer matches and all UEFA Europa League games and UEFA Europa Conference League games under a three-year deal for £305 million per year. The companies will split the Champions League rights with Amazon.com Inc., which is paying £150 million for 17 games per season.

Activision Blizzard Studio Buys Proletariat

Activision Blizzard Inc. acquired Proletariat Inc. for an undisclosed amount. Activision CEO Bobby Kotick said Proletariat will be a key component of its talent acquisition efforts as the company plans to hire hundreds of developers to support the popular game World of Warcraft.

➤ Consumer Insights: US Gen Z adults became video cord cutters in a big way during 2021

Survey results show that among U.S. consumers who dropped their multichannel TV subscriptions last year, one-quarter were Gen Z adults (age 18-24), more than double the percentage from previous years.

SECTOR HIGHLIGHTS

Technology

* Micron's spending plans cloud outlook for chip-equipment makers

* Tech stocks got creamed in the first half. The rest of 2022 could be worse

* Bipartisan tech-investment bill hits new hurdle

* Apple stock is under pressure. Why its earnings could trigger a rebound.

Internet and OTT

* Meta is the latest tech company to slow hiring as engineer target lowered

* 'Stranger Things' finale crashes Netflix. Why an analyst is still worried about competition.

Public markets have proven to be less appealing for tech, media and telecommunication companies looking for liquidity in 2022. Only 12 IPOs were completed in the first half of 2022, including five in the second quarter. In comparison, 52 IPOs were completed in the first half of 2021, including 31 in the second quarter.