WPP has named Mark Read as its new chief executive, succeeding the ad giant's founder Martin Sorrell, per the Wall Street Journal.
The big picture, via Axios' Sara Fischer: Reed, who has been expected to be named CEO for months, takes the helm after Sorrell stepped down earlier this year due to personal misconduct allegations. Sorrell, who led the company for decades, turned WPP into one of the world’s largest ad holding companies and the largest by revenue.
CNN Go, CNN's streaming service, has pulled episodes of "Anthony Bourdain: Parts Unknown" that feature Asia Argento amid sexual assault allegations against the actress, a spokesperson for the network told BuzzFeed News.
The backstory: Argento appeared in two episodes of the show, which took place in Rome and Southern Italy. She directed another episode in Hong Kong. All three episodes can no longer be seen on the streaming service. The move comes after The New York Times reported last month that Argento paid actor and musician Jimmy Bennett $380,000 after he accused the #MeToo leader of sexually assaulting him in 2013 when Bennett was 17.
A long-time fear among investors is that Amazon, the top retailer of consumer electronic products, will continue to eat away at Best Buy's market share. But traditional retailers are coming for Best Buy's niche, too.
What to watch: According to Michael Lasser, a retail analyst at UBS, healthy results from big-box stores in the consumer electronics category suggests there could be some "chipping away" at Best Buy's dominance in this area.
Hundreds of American businesses have testified in hearings hosted by the Office of the U.S. Trade Representative, hoping to shed light on the damaging effect tariffs on Chinese goods will have on the average American consumer.
The big picture: From "cradles to coffins," the 25% tariffs proposed by the Trump administration on $200 billion worth of Chinese goods will raise prices on a wide range of everyday items. And, many industry representatives argued, they will do little to curb China's unfair trade practices.
Taylor Swift's contract with Big Machine Records is set to expire in November, likely thrusting the world's biggest artist into an industry bidding war with hundreds of millions of dollars at stake.
The big picture: Major recording labels are hungry for a win — and Swift is one of music's only sure things. But a deal won't just involve her future earnings, it'll have to consider the eye-watering value of her past recordings, too. Given that she's at the top of her game, she's in position to pull off "the biggest artist deal of the century," per Variety.
The NFL will be pushing its audience to a different viewing experience this year as it ups its presence on mobile devices using Yahoo's Tumblr and Amazon's Twitch to broadcast games, reports NBC News.
The big picture: The NFL's plan to go digital started weeks ago when the league launched a revamped version of NFL.com equipped with both streaming and social updates. Routing its audience to other mobile platforms is the league's next step.
