In today's ExchangeWire news digest: Microsoft faces a "phase 2" probe into its Activision deal; Instagram tests a new feature for creators to monetise Reels; and the CEO of Terraform Labs is issued an arrest warrant in South Korea.
Microsoft’s acquisition of Activision Blizzard is set to face in-depth probes in the UK and Brussels due to growing concerns that the USD$75bn (£65bn) deal is anticompetitive. Earlier this month, the UK’s Competition and Markets Authority gave Microsoft five days to resolve queries around the transaction. As the video game publisher chose not to comply, the software company will now face an extended “phase 2” probe.
Instagram is reportedly developing a new feature that would give creators a new way to monetise content on the platform. The feature, named “Gifts”, would allow creators to receive tips on Reels, Instagram’s video feature.
News of the offering comes as Instagram struggles to keep pace with rival platform TikTok. According to the Wall Street Journal, an internal document from Meta revealed that Instagram users are spending 17.6 million hours a day watching Reels, whilst TikTok users spend 197 million hours on the platform over the same period.
A South Korean “cryptocash” boss is facing an arrest warrant for alleged violations of capital market rules. Do Kwon co-founded Terraform Labs with Daniel Shin, the company behind cryptocurrencies Terra Luna and TerraUSD. Both cryptocurrencies plummeted earlier this year, with Terra Luna’s value dropping by 99% in May.
Meeting Changing Consumer Journeys with an Omnichannel Mindset
More Effort is Being Made, But We’re Not There Yet – R/GA’s Bayyina Black on ESG and DEI
Pubstack Expands its Product Offering & Launches an Ad Management Platform for Web Publishers
Old El Paso, Mindshare & Captify Partner on Innovative Dynamic Creative Optimisation (DCO) Strategy
Epom DSP Team Solves 160+ Tasks in Search of the Ultimate UX
USD $9.9tr – the combined value of Apple, Alphabet, Amazon, Meta, Microsoft, NVIDIA, and Tesla, as of April 2022.
LightBoxTV, the platform redefining TV campaign workflows, has partnered with Vevo, the world’s leading music…
In today’s Digest, Google agrees to a $1.4bn settlement in Texas over privacy lawsuits, UK…
A new study conducted by Picnic in partnership with media agency the7Stars has revealed that…
Adform, the most powerful and safe media buying platform built for game changers, celebrates today…
Opti Digital, a premium ad revenue platform, unveils a new brand identity that embodies its…
In today’s Digest, Ireland pushes for Big Tech to vet financial ads, Warner Bros. Discovery…