Good morning. Here’s everything you need to know in the world of advertising today.
1. Snapchat is making the UK its international headquarters. It’s an unusual move for a US tech company, with other firms usually choosing to base their international operations in European countries that have lower rates of corporation tax.
2. Following the close of its merger with Verizon, Yahoo announced that what’s left of the company will be changing its name to Altaba. It includes Yahoo’s 15% stake in Alibaba and a part of Yahoo Japan.
3. Marissa Mayer, the CEO of Yahoo, is resigning from the company’s board. She will step down after Yahoo’s $4.8 billion merger with Verizon is completed.
4. Ad tech company Rocket Fuel is laying off 11% of its staff, AdExchanger reported. The move will affect 93 employees and is expected to save $20 million in operating expenses.
5. Trump’s son-in-law Jared Kushner will step down as publisher of the Observer. Kushner will “no longer have an ownership stake” in the Observer business or play any role in its affairs, the company said.
6. Two of Britain’s biggest tabloid newspaper groups are getting together to fight dying sales.Trinity Mirror, owner of the The Daily Mirror, confirmed that it is in talks with Richard Desmond’s Northern & Shell, which owns The Daily Express and The Daily Star.
7. These are Oppenheimer analyst Jason Helfstein’s three key reasons to be bullish on Facebook this year . Helfstein named Facebook as his firm’s top internet stock pick for 2017 in a note distributed to clients on Monday.
8. Publicis Groupe is set to appoint one of its former media agency executives, Andrew Swinard, as CEO of Leo Burnett in North America, according to The Wall Street Journal. Publicis is also in talks to acquire the two agencies Swinard currently runs, The Abundancy and Ardent.
9. Facebook will begin testing “mid-roll” ads in videos, The Wall Street Journal reports. It has been testing the format for Facebook Live videos already.
10. Yahoo’s chief revenue officer Lisa Utzschneider says marketers care more about the Verizon deal than the recent hacks, The Drum reports. Utzschneider said that advertisers she was meeting with were already inquiring over what a “post-deal Yahoo” would have to offer them.
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