Good morning. Here’s everything you need to know in the world of advertising today.
1. US-based ad tech company SteelHouse has filed a countersuit against Criteo. Last month, Criteo accused SteelHouse of counterfeiting clicks in a law suit — now SteelHouse has filed counterclaims alleging Criteo games the system with “inflated” click rates.
2. Taboola has acquired video ad tech firm ConvertMedia for a price estimated to be in the tens of millions of dollars range. Taboola is using the acquisition to expand into the outstream video space.
3. UK commercial broadcaster ITV wants to slash costs by £25 million ($32.8 million) to protect itself from the impact of Brexit. ITV expects ad revenue to fall by around 1% in the nine months to the end of September, the company said in its earnings report on Wednesday.
4. Twitter warned on Tuesday that advertiser demand is falling. The company’s stock crashed 10% in after-hours trading after delivering a revenue forecast that fell well short of Wall Street expectations.
5. Jack Dorsey spoke on the company’s earnings call about the possibility of selling Twitter. He said Twitter has a lot more room to grow its business and that it wants to go it alone.
6. Here’s a look at what Yahoo looked like when it ruled the web. We used The Internet Archive to revisit the early days of what Yahoo’s website used to look like.
7. There’s still a major concern about Yahoo’s remaining business — its stakes in Yahoo Japan and Alibaba. Investors believe there are still a lot of hurdles to clear before Yahoo finds a way to cash out those shares.
8. Verizon CEO Lowell McAdam explained why he paid $4.83 billion for Yahoo. It’s all about mobile media.
9. Tim Cook reignited speculation about Apple’s “bigger” plans for TV. Speaking on Apple’s quarterly earnings call on Tuesday, Cook answered a question about Apple’s plans for TV and video, saying: “You shouldn’t look at what’s there today and think we’ve done what we want to do.”
10. Under Armour is taking over one of New York’s most iconic locations. It is opening a new store in the building FAO Schwarz used to call home.
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