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Media, Tech Executives Descend on Sun Valley; Amazon Prime Adds Grubhub; EU Approves Two Tech Laws |
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Good morning. The annual media-and-tech meeting in Sun Valley, Idaho, is underway; Amazon moved to make its membership program more valuable; and the EU gave final approval to a pair of laws that take aim at the biggest powers in digital. |
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| The annual media and tech conference at Sun Valley Lodge in Idaho has been the site where past megadeals were born. PHOTO: KEVIN DIETSCH/GETTY IMAGES |
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Media and technology titans are gathering this week at the Sun Valley Lodge in Idaho for investment bank Allen & Co.’s annual conference, often called the “summer camp for billionaires,” Lillian Rizzo reports. While potential deals are often on the minds of the leaders at Sun Valley, some industry observers say economic headwinds will be a main topic of discussion. “Even if the economy doesn’t go into a recession, stagnation is lingering and there are supply chain issues that could affect advertising. Major advertising sectors, like the auto industry, may pull back on marketing,” said Neil Begley, an analyst at Moody’s Investors Service. “Business leaders don’t have much control over that, but can talk about it and how cautious they should be around costs.” |
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| A Grubhub delivery person in Manhattan in May. PHOTO: ANDREW KELLY/REUTERS |
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Amazon is adding Grubhub to its suite of Prime services in the U.S., giving members free delivery from a network of restaurants, Heather Haddon writes. The move is part of a deal that also gives the e-commerce giant the option to acquire a small stake in Grubhub, according to parent company Just Eat. The deal brings Amazon further into food-related services through its Prime membership program. The company has provided grocery benefits to Prime members under its Whole Foods division, and last year said Prime members in the U.K. and Ireland would get discounts through U.K. food delivery firm Deliveroo. |
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| Thierry Breton, the European Union’s internal-market commissioner, said the EU is the first jurisdiction to set a comprehensive standard for regulating the digital space. PHOTO: YVES HERMAN/REUTERS |
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European lawmakers approved two sweeping new pieces of digital regulation, paving the way for clashes between regulators and some of the world’s biggest tech companies over how the rules should be applied, Sam Schechner and Kim Mackrael write. The European Parliament approved the laws—one focused on anticompetitive behavior, the other on content deemed illegal in Europe—after reaching an agreement on them with EU member states in the spring. The laws, backed by the threat of fines of as much as 20% of a company’s annual world-wide revenue, are the most far-reaching Western efforts to rein in tech companies in at least a generation. Spotify, which launched an antitrust complaint against Apple in 2019, said it hoped regulators would have the tools they need. “It is of utmost importance that the commission be sufficiently resourced in order to execute the tenets of the law in a swift and effective manner,” a company spokeswoman said. Speaking of Spotify: Crosby Still & Nash returned to Spotify five months after joining Neil Young’s boycott over Joe Rogan. [Pitchfork] More European regulation: The EU’s push to simplify the way we charge our devices may mean a change for iPhones around the world. [Washington Post] |
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| Ben & Jerry’s sued Unilever PLC over the parent company’s sale of its Israeli business. PHOTO: EMMANUEL DUNAND/AGENCE FRANCE-PRESSE/GETTY IMAGES |
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Ben & Jerry’s is suing parent company Unilever to block the sale of its Israeli business to a licensee, the latest twist in a rift over the ice cream maker’s decision to end sales in Israeli-occupied West Bank and contested East Jerusalem. [WSJ] Taco Bell stopped its test of giant Cheez-It menu items early after supplies ran out. [Houston Chronicle] Subway introduced a menu of sandwiches meant to be ordered as-is, in a departure from its longtime emphasis on custom orders. [Insider] Panera’s new marketing strategy, including a new “sonic logo,” aims to position healthy food as fun, too. [Ad Age] Peppa Pig trended on Twitter after Microsoft said a game devoted to the kids’ character would be available on Xbox Game Pass alongside fare such as a trio of violent “Yakuza” games. [Digital Trends] The U.K.’s Premier League asked clubs to ban new jersey sponsorships from gambling brands. [Front Office Sports] Nationwide CMO Sara Bennison is leaving after six years in the role. [Campaign] Job seekers are finding that roles advertised as remote sometimes actually aren’t. [WSJ] |
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