iWorld
WhatsApp declines tracking message source in India
MUMBAI: WhatsApp has rejected the Indian goverment’s demand for a solution to track the origin of messages on its platform, saying building traceability will undermine end-to-end encryption and affect privacy protection for users.
Earlier this week, Information Technology minister Ravi Shankar Prasad, during his meeting with the WhatsApp CEO Chris Daniels, had suggested that the social media company find the source of “fake” news and WhatsApp forwards. He said that the government has asked WhatsApp to set up a local corporate entity and find a technology solution to trace the origin of fake messages circulated through its platform as well as appoint a grievance officer.
Prasad acknowledged the role played by the Facebook-owned company in India’s digital story, but was stern that WhatsApp could face abetment charges if it did not take action to tackle the issue of fake news being circulated on its platform.
WhatsApp is under scrutiny in India after the circulation of fake news and rumours on its platform were blamed for several incidents of mob violence and lynchings. The company has since announced several measures – such as introducing a ‘forwarded’ label for messages as well as a limit on how many people a message can be shared with at once.
What makes the rumours problem worse on WhatsApp is its sheer scale in India. The Facebook-owned messaging app is the most popular choice for users in India with the over 200 million active users in the market. The company had also revealed that India is the one market where forwarding messages is very popular. It recently announced an update to limit WhatsApp forwards to just five chats in India. In global markets, it is testing a limit of 20 chats for forwards.
iWorld
Netflix has room to raise its Warner Bros bid: Reuters report
WBD sets 20 March vote but gives Paramount brief window for final bid
CALIFORNIA: Netflix has ample firepower to raise its bid for Warner Bros Discovery if rival suitor Paramount Skydance sweetens its offer, setting the stage for a high-stakes auction over one of Hollywood’s richest catalogues, Reuters reported.
The battle has pitted two media heavyweights against each other for control of franchises ranging from Harry Potter and Game of Thrones to DC Comics and Superman. While Warner Bros is pressing ahead with a 20 March shareholder vote on its deal with Netflix, the board has granted Paramount a narrow window to submit what it calls a “best and final” proposal.
Netflix has agreed to pay $27.75 a share, valuing Warner’s studio and streaming operations at about $82.7 billion. Paramount, by contrast, has offered $30 a share, or $108.4 billion, for the entire company, including Discovery Global, home to CNN, HGTV and other legacy television assets.
On Tuesday, Warner Bros rejected Paramount’s latest hostile bid but stopped short of closing the door. The rival studio had informally floated a $31-a-share proposal, prompting the board to re-engage while reaffirming its backing for the Netflix transaction.
“Netflix still looks to be in the driving seat, but that can quickly shift,” said Hargreaves Lansdown senior equity analyst Matt Britzman. “Price will likely be decisive. Funding certainty and regulatory risk matter, but at a high enough number they become secondary.”
He added that the bids are not directly comparable, with Netflix leaving behind the traditional network business: a trade-off the board and shareholders must ultimately price.
Paramount said it would press ahead with its tender offer, oppose what it called an “inferior” Netflix deal and push to nominate directors at Warner’s upcoming annual meeting. Under the merger agreement, Netflix is entitled to match any improved bid.
In a letter to Paramount’s board, Warner Bros chairman Samuel DiPiazza Jr and chief executive David Zaslav said the company remained “fully committed” to the Netflix transaction.
Behind the scenes, board-level concerns have tilted the balance. Eisner Advisory Group partner Paren Knadjian, said questions over financing structure, timing and regulatory approval continued to weigh on Paramount’s proposal, regardless of headline valuation.
Paramount has attempted to bridge the gap by offering Warner shareholders additional cash for every quarter the deal fails to close after this year, and by agreeing to cover the $2.8 billion break fee payable to Netflix if Warner walks away. The board, however, said key issues remain unresolved, including exposure to a potential $1.5 billion junior lien financing fee, execution risk if debt funding collapses, and whether equity backing led by Larry Ellison is fully committed.
