iWorld
Netflix beats Comcast in market value
MUMBAI: Streaming giant Netflix, on its upward journey, has surpassed Comcast’s market value owing to a new record high of its stock price. Netflix’s market value stands closer to Disney now. While Netflix ended yesterday with a total market cap of $152.8 billion, Comcast ended with $147.15 billion.
Since the beginning of this year the company has been showing good financial performance. Its stock has been up 70 per cent since the beginning of 2018. Its Q1 2018 earnings report showed it making a net profit of $290 million.
Netflix has stuck a production deal with former US president and his family – the Obamas – which has led to a four per cent increase of its stock. On the other hand, Philadelphia-based cable TV conglomerate Comcast’s stock ended the day down around 2 per cent.
Meanwhile, Comcast has confirmed it is in advanced stages of preparing an offer for the businesses that Fox had agreed to sell to Disney. The former is gearing up to top Disney’s $52 billion (€44.4bn) offer for 21st Century Fox.
“Comcast Corporation confirms that it is considering, and is in advanced stages of preparing, an offer for the businesses that Fox has agreed to sell to Disney (which do not include the Fox News Channel, Fox Business Network, Fox Broadcasting Company and certain other assets),” it said in a statement.
“Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney. The structure and terms of any offer by Comcast, including with respect to both the spin-off of New Fox and the regulatory risk provisions and the related termination fee, would be at least as favourable to Fox shareholders as the Disney offer,” it added.
Also Read:
Now, Comcast in talks to buy 21st Century Fox
Comcast may renew bid for 21st CF
iWorld
Meta appoints Rafael Frankel as head of Apac public policy operations
Frankel replaces Simon Milner after 14 years at Meta
SINGAPORE: Meta has appointed Rafael Frankel as head of its Asia-Pacific public policy operations, elevating a long-serving executive amid mounting regulatory and political scrutiny across the region.
Frankel, previously director of public policy for Southeast Asia, confirmed the move in a LinkedIn post, describing the role as both a challenge and an opportunity as technological, social and political shifts gather pace across Apac and beyond.
He succeeds Simon Milner, who led Meta’s Apac policy function for eight years and spent 14 years in total at the company. Paying tribute to his predecessor, Frankel described Milner as a mentor whose leadership combined empathy and foresight, shaping the team’s regional engagement.
The appointment places a seasoned insider at the helm. Frankel brings 25 years of experience across Asia-Pacific and the Middle East, including earlier stints as a foreign correspondent and consultant in Bangkok, Jerusalem and Washington. He also serves on the board of the US-Asean Business Council, underscoring his policy and trade credentials.
His elevation comes as global technology platforms face tighter regulation, sharper geopolitical fault lines and intensifying debate over artificial intelligence. In his statement, Frankel signalled alignment with Meta’s broader ambitions, including its push towards advanced AI systems, while emphasising collaboration with governments and businesses across the region.
