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Facebook's California headquarters. Photo: Josh Edelson/AFP/Getty Images

Legislators in California will try to pass an online consumer privacy law to get ahead of a ballot measure that would allow the electorate to vote directly on the issue.

The bigger picture: Major internet companies have opposed the ballot measure. The bill includes more business-friendly language, reports the Los Angeles Times, and could help digital ad-based giants like Facebook and Google avoid a rebuke of their business model come Election Day.

Why now? The composition of the state’s November ballot is being finalized next week. The backers of the initiative say they will pull it if the bill passes.

What the bill would do: Lets consumers ask companies what data has been gathered about them and "opt out of the sale of personal information by a business."

Yes, but, per the Los Angeles Times: The agreement still has to be finalized and signed by California governor Jerry Brown before the initiative backers will withdraw it.

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Dan Primack, author of Pro Rata
Updated 8 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Ina Fried, author of Login
10 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.